O’Hara used a steady stream of his mother’s income from Social Security and other investments ‘to pay for personal expenses, including cell phone plans, credit card payments, youth soccer fees and entertainment,’ the indictment said.
Most of those who will be eligible in 2019 are over age 50 and would otherwise have no healthcare.
This is a sad reminder that much elder financial abuse takes place at the hands of family members. In this case, a son and daughter-in-law have been charged with taking more than $150,000 from the 86-year-old father.
To help plan for retirement, it helps to move from asking global questions, like “Can I afford to retire?” to more specific questions, like “What’s my monthly cost of living right now?”
It makes sense that the people who come in contact with the elderly about their health and property be required to report any kind of elder abuse. After all, they are on the front lines where abuse often occurs.
A healthy life where you retain all your faculties and enjoy yourself, is definitely preferred to decades of dementia. We don’t get to choose, but we can plan.
Saving for college but needing to receive Medicaid is a complicated equation.
“Solo agers face unique challenges, as their needs begin to change.”
It’s great that overall our life expectancies have increased, but with longer lives, comes a greater risk of bad choices and financial elder abuse. There are steps you can take to protect those you love.