A recent study published by Texas Tech University found that regardless of gender or education, financial acumen begins to dissipate after the age of 60. This is disconcerting when one considers the fact that 12% of the current population is 60 or over and controls half of the country’s wealth. During the last several years, the number of seniors filing for bankruptcy protection has skyrocketed. We have found several common themes as we have counseled them prior to their filings. These themes are: no written budget, inadequate medical and long term care insurance, inadequate cash flow to weather skyrocketing gas and food prices, and lack of understanding all of the terms and conditions of agreements into which they entered.
This 2 hour sponsored workshop addresses a wide range of financial issues important to seniors from basic budgeting and insurances to scams and frauds targeting seniors.
Programs specifically for widows are being developed.