In July of 2013, the American Psychological Association conducted a survey to pinpoint the most common causes of stress in American life. The research concluded that the top three triggers of stress included job pressures, money, and health. While most seniors no longer have the pressures associated with a work environment, they certainly are not immune to concerns associated with finances, which in turn can negatively affect their health.
Stress can manifest itself in any number of physical manners, no matter a person’s age. Of those people who experienced stress-induced ailments, 51% reported fatigue, 44% headaches, 34% stomach upset, 30% muscle tension, and 23% change in appetite. Many elderly people are already battling the natural physical conditions associated with age, such as poor eye sight, loss of hearing, osteoporosis, Alzheimer’s, arthritis, etc. These maladies, especially when compounded with stress related illnesses, can detract from a person’s enjoyment of life.
Fortunately, with the implementation of an accounting system, bookkeeping and daily money management, seniors will discover the peace of mind that will liberate their lives and health from unnecessary stresses. With sound daily financial practices, seniors find greater independence.
The exchange of money is a daily event, but many seniors find that paying monthly bills, balancing a checkbook, filing insurance claims, and managing investment income has become too challenging. There is no reason for these adults to suffer alone, especially when there are professional money managers that possess the expertise to protect someone’s fiscal health, thereby guarding their physical well-being.
On behalf of their clients, money managers acquire the necessary legal permissions to set up automatic withdrawals, manage transactions, write checks, manage bank deposits, transfer deposits between accounts, negotiate on the behalf of creditors, and even handle claims with the medical insurance companies. Financial management professionals not only assist in the day-to-day accounting that is necessary for wise spending, they are also better able to identify fraudulent activity within their clients’ accounts.
Sadly there are a few people who make a dishonest, reprehensible living by preying on the trusting attitudes exhibited by many elders. Money managers are constantly ridiculing account activities so that any discrepancy is immediately uncovered and remedied. If there is not a financial expert overseeing an account, the fraudulent activity is frequently discovered long after the damage is done, but the diligent attention of a financial caregiver constantly protects the interests of the account owner.
Hiring a financial manager will remove many of the stresses inherent with money concerns. Please contact us today to discuss the most effective financial plan for your specific needs.