Share this page:
Follow Choice on Social Media:
Get the most out of life

Money & Rights

Coping with financial stress as a senior

As we approach our latter years and start to consider retirement, how in order our finances are starts to become a major worry for a lot of our seniors’ citizens. In fact, a survey conducted by Life Reimagined, found that in 1,026 adults over the age of 35, 50% were having to accept the fact that they will be retiring at a later age compared to their parents’ generation. This is in line with another survey found 49% are kept awake at night worrying about financial issues. Further researched by the American Progress suggests that around 3.4 million seniors in America who are 65 and above are living below the poverty line.

Why our seniors are facing such financial problems as they approach retirement is down to a number of reasons. Each financial situation is different but common worries are reported; such as a drop-in income and financial sources/options becoming more difficult to find or limiting. With age comes increased healthcare costs as health can deteriorate furthering compounding the issue. There are many options for seniors to reduce the potential financial hurdles they could come up against, with this guide providing some guidance and advice to help those approaching their retirement.

Current Issue

Choice April 2021

Profile: Miranda Hart

Enjoy Britain: Inspirational walks in and around Welsh churches

Discoveries: Learning while you travel: acquire a new skill while on holiday

Travel memories: racing on Lake Michigan

Treasures: Winchester Cathedral

Health: Keeping heart disease at bay. A Yoga exercise to try

Beauty: Nadia Sawalah’s beauty secrets

Nostalgia: 1900s Country House Kitchens

Enjoy Life: A lockdown diary

Your Money & Your Rights:
Dealing with redundancy
Closing the pension gender gap