SENIOR EDUCATION Area Agency on Aging develops nancial tness program to help older adults
GUIDE Q&A Ask senior living experts
COMPILED BY MICHAEL CROUCHLEY
PATHWAY TO FINANCIAL FITNESS The Financial Fitness for Older Adults program consists of six modules meant to help adults age 60 and older as well as their caregivers learn ways to manage their nances.
Richard Malcolm is the owner of Assisted Living Locators, a company that provides no-cost assistance to families and seniors looking for the best option in a move to senior living. Malcolm has been working with seniors in Flower Mound and surrounding areas for the last two years after working for 20 years as a collectible toy buyer. More information on Malcolm’s work can be found at www.assistedlivinglocators.com.
our identity is kind of tied up into how we spend our money,” Green said. The program took inspiration from the Federal Deposit Insurance Corporations’ Money Smart nancial education program, Green said. The FDIC’s Money Smart program focuses on helping people of all ages enhance their nancial skills, according to its website, but the agency opted to develop its own program to directly address the needs of older adults, Green said. “Our goal was to come up with not only short-term resources … but a pathway to a longer-term strategy,” Green said. The program is primarily funded by the Older Americans Act as well as contributions from Aetna, Green said. Participants who complete at least four of the six modules can receive a $150 Walmart gift card that was donated by Aetna while supplies last. To learn more about the pro- gram, contact Bene ts Counselor Monique Snipe at 817-695-9166 or msnipe@nctcog.org.
Seniors are left with a big decision as they get older regarding where they should live. Local experts discuss how to nd the right t for each person and their needs.
BY SHELBIE HAMILTON
Texas are eligible to participate in the free program, totaling more than 500,000 eligible people, according to U.S. Census Bureau data. “We really wanted a service that would make a lasting di erence for people who were struggling to meet basic needs,” Green said. The goal of the program is to o er information and resources that can help adults age 60 and older to take control of their nances especially if they are a ected by in ation, Green said. The program is coordinated in individual sessions that are primarily conducted remotely but can be held in-person. The program is spaced out over several weeks and is conducted by a nancial tness coach who can o er information and resources while remaining respectful of the participants’ nancial goals, Green said. “Talking about money is really awkward and sensitive, and a lot of
The North Central Texas Area Agency on Aging has launched a new program developed with Aetna to help older adults and caregivers manage their nances. The Area Agency on Aging is part of a national network funded by the federal and state government, and works to provide older adults and caregivers with information and ser- vices at no charge, Director of Aging Programs Doni Green said. The newly developed program, termed Financial Fitness for Older Adults, got its start in late 2021. The program consists of six modules covering topics that include developing a spending and savings plan, using health care wisely, avoid- ing scams and unfair loans, learning about Medicaid, and more, according to the organization’s website. Adults age 60 and older in the organization’s 14-county coverage area in North
changes. I’m able to cut through a lot of the secretaries and desk people, and then we can knock out two-three tours in one day if that’s what works best. It’s also about guring out what’s most important to the senior. It’s literally matchmaking, so it reduces the stress of the search on the seniors and the families. WHAT ARE SOME MISCONCEPTIONS ABOUT SENIOR LIVING? People often think of nursing homes as a place where people go to sit in a chair and die. It’s about getting people to realize how awesome some of these places are, because their image is what their grandparents had in 1960. There are a lot of independent living options that I think are wonderful. Those all have a di erent selection of what they provide, but they are built for seniors. If you live in an independent living community and you start to become dependent, you can use in-home care if it works nancially.
WHAT ARE SOME SIGNS THAT IT MIGHT BE TIME TO LOOK AT SENIOR LIVING? My objective is not to move everyone out. Some people will be happier at home, but at a point it may become a medical necessity. If you recognize that they seem to be falling more or forgetting things a lot easier, then it’s time to really consider it. Also if you start to see that the senior is feeling depressed or lonely, which can be hard to recognize, it may be time to start looking. As long as the senior is able to make decisions, they 100% need to be involved. WHAT IS THE MATCHMAKING PROCESS FOR FINDING SENIOR HOUSING? Communities that I think might be great may not be great for everyone, so it’s all about [ nding] them somewhere where they can be stimulated. I keep in contact with the communities and tour them as much as I can, so I can keep a tab on them and stay on top of their sta ng
DEVELOPING A SPENDING AND SAVING PLAN
Cathi Coridan is a real estate agent who specializes in the transition to senior living. Coridan served seniors in the Washington, D.C., area before moving to the Dallas metroplex in 2021. She has been involved in senior-focused real estate in the area since, using her “less stress and more success” model. Learn more about Coridan’s services at her website, www.yourtransitionpartner.com.
USING HEALTH CARE WISELY LED BY AETNA
AVOIDING FRAUD AND ABUSE
and when there’s a crisis, you can make really bad decisions. WHEN SHOULD A REALTOR GET INVOLVED IN A SENIOR MOVE? People often call the Realtor once everything else is done, and they just want me to stick a sign in their front yard. There’s not a cookie-cutter approach, but I think the Realtor—if it’s a senior real estate specialist—should be one of the rst people that’s brought in because of my access to a network of people who can help them make the best decision. Seniors deserve the best, not leftovers.
WHAT MAKES A MOVE INTO SENIOR LIVING UNIQUE? Working with seniors, it’s about the life transition, not just the real estate transaction. They haven’t had a real estate transaction in 35 or 40 years. It’s a whole di erent world out there, and they have accumulated years and years of stu . That becomes really an overwhelming obstacle to making a decision that bene ts and helps themselves. They also may have had a signi cant loss in their life, or there’s a signi cant emotional attachment to the house. People don’t make plans to make those changes until after there’s a crisis,
AVOIDING UNFAIR OR PREDATORY LOANS
UNDERSTANDING MEDICAID
ADVANCED DIRECTIVES
SOURCE: AREA AGENCY ON AGING COMMUNITY IMPACT
LOWRY CROSSING 4100 East US 380 (972) 540-2500 ALLEN 1839 North Central Expressway (972) 908-3488
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MCKINNEY EDITION • DECEMBER 2022
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