Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501


How to Help Your Retired Parents With These 5 Financial Suggestions

Watching your parents enter retirement is a transition that can be difficult. Many dynamics change, and they can become vulnerable. Gone are the days when it was their responsibility to care for you. Now it is your turn to step up and ensure the security of their financial future. There are five financial suggestions that can greatly reduce your retired parents’ burden.

How to Help Your Retired Parents With These 5 Finanacial Suggestions

Help your retired parents with these 5 financial suggestions.

1. Heart to Heart

Many retired individuals find it difficult to accept the fact that their lives are changing, and having a heart to heart with your retired parents is the first step toward providing them with the help they need. In order provide them with a non-defensive environment, bring up the subject casually in a relaxed environment such as over dinner. Discuss with them their financial plans for the future.

2. Social Security Attorney

It is possible that your parents have social security benefits to help supplement their income. Unfortunately, many don’t understand the criteria and eligibility requirements. It is well worth the investment to hire a Boise social security attorney to help sort out the legalities.

3. Insurance

Long-term care insurance is another excellent investment, and this protects you and your parents both. It is impossible to predict what the future holds, and, in the event that the health of either parent declines to the point that long-term care is necessary, you will be able to provide them with the accommodations they need.

4. Gifts

Many do not realize that they are able to provide their retired parents a gift of up to $14,000 each year without being required to file a federal gift tax return. Rather than helping them directly pay bills and other costs, providing them with that money in the form of a gift can be more beneficial.

5. Other Benefits

Aside from social security, there are a number of other benefits your parents may qualify for. For example, if one of your parents is a veteran, they may be able to qualify for long-term care and disability. If their income allows, they may even be eligible to receive food stamp benefits. Explore these options to see what supplements are available.

Because You Care

Your parents were there for you, and now it’s your turn to do the same. Retirement years can be scary, and they rely on you more than they may like to admit. By following these five tips, you can help your retired parents gain the financial stability they need.

Tim Esterdahl

Find Us on Social Media

23 hours ago

Integrated Family Community Services - IFCS

While stocking the shelves, it occurred to us that by adding ground beef to the ingredients in this photo, you could make a hearty Shepherd's Pie. We need your help in coming up with more recipes whose main ingredients come from IFCS. If you'd like a list of what's on our shelves, please comment here or email so we can create a recipe list to share. ... See MoreSee Less

View on Facebook
View on Facebook

Teamwork makes the dream work! ... See MoreSee Less

View on Facebook

IFCS On Twitter

Check out our news in the Littleton Independent.,299770

We are BLOWN AWAY by the quality of fresh fruit and fresh veggies we got from @FoodBankRockies today! Simply gorgeous. Call 303-789-0501 to get your box today.

Who remembers the IFCS Flood of 2017? Well, we had another pipe burst, but this time, staff was here to stop it from demolishing the building! We have some cleaning to do, but all food and goods are safe!

Load More...

Key Sponsors

Our Affliations




Sign Up for our eNewsletter

Email Newsletter icon, E-mail Newsletter icon, Email List icon, E-mail List icon Sign up for our Email Newsletter
For Email Marketing you can trust

USDA Non-Discrimination Policy

IFCS follows the USDA non-discrimination policy. Learn more by clicking here to read the statement. (PDF)