Sep 17, 2012

Fiscal Considerations

"The poverty rate for all women ages 65 and older is 11.5 percent, that rate for single women is almost twice as high, at 19.1 percent.  For older singles, a National Council on Aging analysis of data from The American Community Survey shows that a senior living alone spends almost 35 percent of their income on housing, compared to 22 percent if they live with others. 
Read more at http://www.thefiscaltimes.com/Articles/2012/09/13/Broke-and-Single-Why-It-Pays-to-Be-Married.aspx#grHJJFIibQ4UlfDf.99"
Interesting information on the cost of living alone --- which those of us whose spouse has dementia will encounter.  In fact, most females will encounter living alone at some point in their lives; very likely during the last period of their lives.  As we find our way among the financial obligations of providing care for someone with dementia, let us also keep an eye on our financial needs after this time has passed.  If you do not have a financial advisor, perhaps it is time to consider one.  Do make sure the person is reputable and certified.  Check with others, check with your local consumer's offices, but do check to make sure you are getting information from someone trustworthy.  You are worth it, and it is important for you not only to handle the finances now, but when you are alone.

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