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Managing Your Finances as a Senior Citizen 

Senior having control on his finances

The Home Instead Senior Care Team Offers Useful Suggestions

Nothing beats retirement. You have more time to devote to hobbies, family, or other pursuits. The trade-off for all the extra time on your hands is the reduced funds coming into your account each month. If you were prudent in your younger years, the change might not be drastic, but for many, money worries may abound, causing stress in this season of life.  

Combat money stress by making a financial plan that helps you understand your choices and where you stand. When you need retirement planning advice, you should seek the help of a professional. If you need assistance staying in the family home for as long as possible, seek the personalized home care services offered by Home Instead Senior Care Hamilton. We work hard to support seniors and their families during their retirement years.

6 Tips to Take Control of Your Finances As You Age

Planning gives you an edge and prepares you for eventualities. Even if you have started late, now is still a good time to find out where you are positioned financially, and then work towards managing where you want to be. Consider these helpful tips:

  1. Get a Realistic Picture: Gather all the bills, bank statements, and other financial papers. Write down what goes out versus what comes in. You will quickly get an idea of where you stand, which will help you with your next moves.
  2. Hire a Professional: For complicated financial situations, it pays to hire someone who is certified, trained and experienced to assist you. Financial planners understand the nuances of investment vehicles and can help you know what is working and what is not.
  3. Consult Your Lawyer:  Talk to your attorney about your will and enduring power of attorney. Update it regularly, and make sure your kids know where you store it.
  4. Check Out Government Programs: There are several government programs to help elderly Canadians. There are some stipulations, but if you are over 65, they are worth checking out.
  5. Plan for Possible Loss of Independence: A health crisis can quickly strip you of your independence. Consider now what you will do if that happens. Do you need a power of attorney? Can you stay in your home with the help of a caring, senior home caregiver?
  6. Make a Will: The inevitable will happen. One day you will pass from this life and leave your family to mourn and honour your life. Make it easier on them by having a will.

Trusted Senior Care and Companionship for You

Stay in the family home longer by taking charge of your finances and enlisting the services of a trusted senior caregiver. At Home Instead Senior Care, we train our staff to give you or your elderly family member the assistance and dignity they deserve. Keep enjoying life at its fullest with our help.

Additional Important information

Other Senior Care Services: There are many unexpected situations for which you are not prepared. Home Instead Senior Care Hamilton can help your family dealing with your special circumstances. Here some of our additional senior care services.

Benefits: Learn how home care benefits you and your family.

Quality Care: We are commitment to provide quality care for our clients. Read more about our Quality Home Care.

FAQ: Please visit our FAQ section to get answers to your questions about in home senior care in Hamilton.

Reviews: Read home care reviews from families in Hamilton.

Awarded CAREGivers: Every month we award the Caregiver of the Month. Please see the Best CAREGivers in Hamilton


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When you need in-home care services, look to Home instead to deliver the excellence and compassion you deserve. Learn more about the experienced senior in home care‚Äč we deliver.
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