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3 tips for preventing financial elder abuse

The definition of elder financial abuse is a simple one. It is any case in which a senior citizen’s finances are manipulated or misappropriated for the personal gain of another. While defining elder financial abuse may be simple, recognizing it, and preventing it, are separate matters. However, elder financial abuse can be detected if you know what to look for. Below are some tips to help elders and their loved ones spot the warning signs of financial abuse: 1. Watch out for Isolation Sadly, despite a lifetime of cultivating relationships and friendships, a person’s senior years are the ones in which they are most likely to feel the effects of isolation. Sometimes it is because they no longer drive and are stuck at home more often, or perhaps their children and grandchildren no longer feel them relevant or worthy of a visit. Regardless, isolation is a major contributor to elder

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How to choose the right senior living facility

We would all like to think that we will always be as capable as we are in our younger age. But for better or for worse, some things will inevitably change. There often comes a time in our lives when we can no longer care for ourselves and must rely on others. While many seniors continue to live happily at home for the duration of their lives, the reality is that more than half of the people who turn 65 today will require long term care. The tips below should help you get started on your search for the right assisted living facility: 1. How much assistance or help do you or your loved one need to function adequately? There are generally three levels of assistance which vary greatly in both time, the number of services provided, and cost. First, some elders, especially those with chronic health issues may require

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I am setting up a small business on my own. Would I benefit from incorporating as an LLC?

In three words—yes and no. We have a new tax law this year that has what’s called a Qualified Trade or Business [QTB] deduction. It’s very complicated and before you set up an LLC or a S Corp, you would need to have a tax advisor run numbers. This deduction is not available to high income businesses [over $415,000 of taxable income for married filing jointly and $157,500 for all others.] This question cannot be answered unless you get help ASAP. While you would benefit greatly from incorporating your business as a limited liability company (LLC), as opposed to operating it as a sole proprietor or as part of a group of partners in a general partnership, there are some trade-offs to being a S Corp or an LLC or a proprietorship due to the new QTB deduct. An LLC is a relatively simple means of incorporating a business, with

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Studies show your brain might clean your “memory inbox” while you sleep

Posted by Gerald J. Turner – Everyone knows that with age, the ability to remember things becomes more difficult than it used to be. However, you already have one of the of the most important tools to help you distinguish which information is important and which is not: your bed. A study was published in the professional journal Cell Reports that shows that sleep may be the key to helping the brain separate what really matters from mental background noise. “Patterns of nerve activity in the brain that occur during waking are replayed during sleep, and this replay enables the consolidation of nerve connections in the brain and, therefore, memory,” said Jack Mellor, a co-author of the study and a researcher at the University of Bristol in England. In other words, your brain separates the important stuff from the mental junk-mail you take in each day. The hippocampus is a

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How seniors can keep busy by working from home

Posted by Gerald J. Turner – Working Americans often dream of the day when they can retire and wind it down after decades of punching a clock. But this is to be expected — who would not want to rid themselves of the daily rat race which probably includes getting up early dressing in uncomfortable clothes, and fighting traffic on the daily commute? But when the time finally comes, many seniors find that something unexpected occurs. They miss the sense of purpose and social interaction they received from working every day. For these people, and for seniors whose financial situation necessitates it, returning to work is a way to feel great and earn extra money on the side. Many retirees have found it a positive experience to work from home. Working from home can alleviate numerous stressors of working life, including the grind of driving to and from work, and

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