Financial Independence is having enough income to pay for regular living expenses without working for the rest of their life. Assistance may be needed with the preparation of bills or taxes.
As we grow older, one of the main stressors that will never leave is the burden of finances. Handling finances becomes increasingly difficult with age, not to mention the added stress of wondering how to pay for care as we get older. Seeing those that have provided for you throughout your life go through financial worry is difficult to witness. Being prepared is the most effective way to combat these financial worries. LMA works with families, financial professionals, estate attorneys, and elder care attorneys to ensure that plans are in place to address these issues. By providing organizational support within the home, we are able to gather the necessary paperwork to support your professional team.
LMA works with families to find solutions to problems that fit within their budget.
Recall Fine Howe and Hutson’s statement on financial literacy from the cognitive section of our Wheel of Independence, “financial literacy begins to decline after age 60; however, confidence in financial literacy remains constant over time.” This means that the technical skills involved with handling finances are declining but often goes unrecognized by the person with the decline. LMA provides another set of eyes to be sure that our clients are living within their budgets, not making mistakes in their checkbooks, and are staying safe from scams. We are able to help your client or loved one to stress less about making mistakes with their finances, allowing them to confidently live and plan for their futures.
Our goal at LMA is to remove the burden for the loved one by addressing the exact issues that cause the stress. For many elderly people, budgeting, paying bills, and maintaining overall financial stability becomes a complicated chore that only gets more difficult as time goes by. Getting the assistance of LMA will provide well-versed assistance that will ensure an elder is not falling behind in payments or making costly mistakes. Connecting with a professional resource may also be necessary to address issues that need specific attention.
Financial worry is the last thing that you wish to see your loved one experience in their old-age, especially if that very person is the one that provided you with all of their insights, assistance, and financial support throughout the course of your life. At LMA, we can help.