Senior Financial Assistance
There is a wide variety of senior financial assistance available, from supplemental income to advice on taxes and reverse mortgages. It’s important to know that many people try to charge for benefits and advice on financial assistance for seniors that are offered free by the U.S. government.
Social Security is the most commonly known and widespread form of senior financial assistance, a monthly return on taxes paid during your working life, which benefits millions of Americans. If you’re interested in calculating what your monthly benefit will be, or learning about disability or prescription benefits, visit the government’s helpful Social Security website.
Medicare is another government program that offers senior financial assistance to millions, providing assistance with health insurance. Medicare can be difficult to make sense of; for help and helpful links, see our section on Senior Medicare.
As you move into retirement, your shifting finances may change your tax obligations – the government offers free help making sense of your new tax status on their page for Tax Counseling for the Elderly.
One big shift many make in retirement is to take advantage of a reverse mortgage to free up equity – if you’re curious about what a reverse mortgage might do for you, take a look at the government’s webpage on Reverse Mortgages for Seniors. The Department of Housing and Urban Development offers free information that many realtors may try to charge you for.
There is also government senior financial assistance for those with very few assets, low income or disabilities. For more information on who’s eligible, and what benefits are available, visit the government’s Supplemental Security Income (SSI) page.
These are just a few of the websites and resources available for financial assistance for seniors. If you need senior financial assistance, there’s help out there; it just takes time to find the right benefits and assistance for you.
