JANUARY ARTICLE: Tips For Managing Finances As We Age
Tips For Managing Finances As We Age
The start of a new year is an ideal time for older adults to evaluate their financial needs.
When it comes to managing your funds, creating a budget is essential. This will show you where your money is spent each month and give you more control over it. It is important to know how much of your money goes toward rent/mortgage, utilities, food, transportation, insurance, medical, and other expenses.
Start with compiling all your income sources such as Social Security, pension, savings, and investments. Remember to factor in any adjustments to your income, such as your Social Security benefit; you should receive an annual notification with the new amount for this particular benefit. Then, plan out your expenses. Be sure to review notices alerting you of cost increases for utilities, prescription programs, supplementary health insurance, and other premiums.
There are several ways to manage on a budget during retirement, or with a fixed income. Think of it as “smart spending” rather than “penny pinching” to stay positive. Aim to reduce or maintain expenses so your savings are invested and growing for as long as possible. Here are a few tips for stretching those dollars:
- Seek out senior discounts at restaurants, retailers, and other venues. For example, many movie theaters offer a special “Senior Day” with discounted ticket prices.
- Local libraries offer a variety of free or inexpensive events ranging from guest lectures and art classes to book clubs, yoga, and more. Interested in visiting a museum or zoo? Reserve a reduced-rate pass through your local library. You don’t need to visit the library to borrow many items. Many libraries offer ways to checkout, download, and stream eBooks, audiobooks, magazines, movies or music to your devices online. Your local librarian can advise and assist you.
- Community programs help seniors save on transportation and food. For example, older adults may take advantage of reduced fares when they travel via Massachusetts Bay Transportation Authority (MBTA) bus, commuter rail, subway or ferry. Many Councils on Aging (COAs) offer Community Dining sites where nutritionally sound and satisfying meals are provided Monday through Friday. Community Dining enables older adults save money on food while providing an opportunity to socialize. For those unable to attend a Community Dining site or who are unable to prepare nutritious meals at home, home-delivered meals through Meals on Wheels (MOW) are available.
For older adults having difficulty managing their finances, the Money Management Program (MMP) at OCES can assist. Through this free program, OCES’ trained volunteers help older adults (in Plymouth County and surrounding towns) reconcile bank statements, pay bills, and create budgets. MMP volunteers provide confidential assistance and ensure that mortgage/rent, utilities, medical, food, and other bills are paid.
Ultimately, budgeting enables you to keep track of your spending as you age, which will help stretch your savings over the long term.
Older adults who would like to learn more about budget guidance and the Money Management Program at OCES are encouraged to call 508-584-1561.
Recent News
Home Care Service Providers Concerned by Stalled FY25 Supplemental Funds
Old Colony Elder Services (OCES), one of 27 Aging Services Access Points (ASAPs) and Area Agencies on Aging (AAAs) across the Commonwealth of Massachusetts, shares deep concern as critical funding for home care services remains stalled in the legislature awaiting final approval and passage. Old Colony Elder Services (OCES), one of 27 Aging Services Access Points (ASAPs) and Area Agencies on Aging (AAAs) across the Commonwealth of Massachusetts, shares deep concern as critical funding for home care services remains stalled in the legislature awaiting final approval and passage.
Full Article Home Care Service Providers Concerned by Stalled FY25 Supplemental Funds
JUNE ARTICLE: Pride Month, LGBTQIA+ Senior Luncheon
The 1969 Stonewall Uprising served as a catalyst for the global movement for LGBTQIA+ rights.
In June, we celebrate Pride Month commemorating this important time in history.
Diversity enriches our community. Old Colony Elder Services (OCES) supports the independence and dignity of older adults and individuals with disabilities by providing essential information and services that promote healthy, safe living. OCES aspires to be a culturally diverse and inclusive organization that removes barriers creating equity for all by empowering individuals and communities to thrive, age in place, and reach their highest potential.
Full Article JUNE ARTICLE: Pride Month, LGBTQIA+ Senior Luncheon
“March Against Elder Abuse” events to be held in Plymouth and Brockton in June
World Elder Abuse Awareness Day (WEAAD) is June 15th and “March Against Elder Abuse” events will be held in Brockton and Plymouth, MA.
Old Colony Elder Services (OCES), in partnership with the Brockton Council on Aging, the Plymouth Center for Active Living, the Plymouth County Sheriff’s Department, and the Plymouth County District Attorney’s Office will hold two FREE one-mile marches to raise awareness of elder abuse in June.
Full Article “March Against Elder Abuse” events to be held in Plymouth and Brockton in June
Community Options Ep. 309 - World Elder Abuse Awareness Day Panel
In June we hosted a World Elder Abuse Awareness Day Panel featuring:
Teresa Kourtz, OCES Protective Services Director
Mayor Robert Sullivan, City of Brockton
District Attorney Timothy Cruz, Plymouth County
Christina Long, Brockton Council on Aging
Full Article Community Options Ep. 309 - World Elder Abuse Awareness Day Panel
MAY ARTICLE: Join us to celebrate Older Americans Month this May!
The Administration for Community Living (ACL), which leads the nation’s observance of this special month, has announced this year’s theme, “Flip the Script on Aging”, will focus on “transforming how society perceives, talks about and approaches aging”.
The National Council on Aging (NCOA) reports that by 2030, all Baby Boomers will reach age 65 or older; by 2040, this demographic is expected to make up 22 percent of the American population.
Full Article MAY ARTICLE: Join us to celebrate Older Americans Month this May!
Community Options Ep. 308 - Brockton Council On Aging
In May we spoke with Dottie Slack, Outreach Coordinator and Shine Counselor at the Brockton Council on Aging highlighting the grand re-opening and programs and activities at the COA.
Full Article Community Options Ep. 308 - Brockton Council On Aging
APRIL ARTICLE: April is National Volunteer Month
Full Article APRIL ARTICLE: April is National Volunteer Month
Community Options Ep. 307 - National Volunteer Month
In April, we celebrate National Volunteer Month, a time to recognize and honor the countless individuals who generously donate their time, skills, and energy to make a lasting impact in their communities. At Old Colony Elder Services (OCES), we proudly acknowledge the dedication of our volunteers who work tirelessly to support older adults, individuals with disabilities, and others across the 23 communities we serve.
We discussed our Volunteer programs with:
- Cidalia America, Volunteer Coordinator at OCES
- Mike Pauley, OCES Volunteer
Full Article Community Options Ep. 307 - National Volunteer Month
MARCH ARTICLE: Social Work: Making A Positive Difference
During March, we celebrate Social Work Month and the many contributions of social workers.
Social workers are dedicated to helping people and communities thrive. Social workers also help people of all ages cope with life’s challenges. A major part of a social worker’s job is advocacy. Social workers stand up for equal rights of all people and work to ensure that services are provided to all who need them.
Full Article MARCH ARTICLE: Social Work: Making A Positive Difference
Old Colony Elder Services Launches Urgent Campaign for Essential Funding to Support Vital Programs
OCES a designated Aging Services Access Point (ASAP) and the largest provider of in-home and community-based services for older adults and people living with disabilities in Southeastern Massachusetts, has kicked off a campaign to raise awareness for essential funding needed to support vital programs including Home Care Services.
