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 October 2021

Profile: Gyles Brandreth

Enjoy Britain: Scotland’s Far North

Discoveries: Visiting James Bond locations around the world

Treasures: The National Gallery

Health:
• The healing power of poetry
• A Yoga exercise to try

Beauty: Tackling the menopause

Looking Back: How the 50s shaped our world

Remembering John Denver

Your Money & Your Rights:
• Finding a reliable builder
• How technology can help care home residents

Plus: Craft & sewing projects, interior design tips, food & drink, garden news, garden birdwatch, puzzles pages, book, DVD and CD reviews.