Moving into an assisted living community comes with a number of benefits, particularly when it comes to safety and security. Some benefits the residents of Bethesda Gardens in Terre Haute, IN, can expect include:
We want all of our residents, at all care levels, to be able to live their best lives during retirement, which is why we work so hard to provide for all these background support services. At the same time, though, many of our residents still live very active, independent lives, making their own decisions and handling their own schedules.
One of the areas that many residents may still manage on their own is personal finances. Whether you're a resident of the Bethesda Gardens assisted living community, considering moving to the community, or a family member assisting a senior loved one with financial management, understanding credit for older adults is important.
Many people think once they retire that their days of considering factors such as credit and personal finances are beyond them. They might have a retirement savings and a plan, and as long as they stick to that, they think they're set.
And while that partially is a good benefit of retirement planning, you probably have learned that life doesn't go exactly the way you planned. And seniors of faith are also aware that much of life is out of their control.
One thing that's in your control is your credit, and it does still matter when you're a senior. Some reason that you may want to continue to monitor and manage your credit history include:
If you're not using credit regularly, you might think there's less need to monitor it. But in reality, not using your own credit or keeping an eye on it can put you in danger of someone else using it fraudulently. If you have good credit, an identity thief could use it to take out loans and credit cards in your name, running up balances and not paying them off so that you're potentially left with the fall out.
Luckily, there are some easy proactive steps that seniors can take to protect their credit. Whether you're in an assisted living community or still in a traditional home, here are some tips for keeping your credit history and score safer.
Whether you're enjoying an active life in an assisted living community or keeping your options open during retirement, it's a good idea to keep an eye on your credit. Reach out to a trusted family member or friend to help you with this process if you're not sure how to get started.