Cantissimo Senior Living Blog

Cantissimo Senior Living blog - an educational resource for older adults in lifestyle, wellness, and more.

Posts about Finances:

11 Tips to Reduce Your Spending in Retirement

11 Tips to Reduce Your Spending in Retirement

Retirement is the light at the end of the tunnel. A lifetime of working hard, saving money, and enduring swings in the market has led us to that promised time of rest, relaxation, and enjoyment. However, not working means that we must rely on whatever money we have stashed away. A big part of that is managing — specifically, reducing — our spending. So how can we successfully reduce our spending in retirement?

Try These Tips to Keep More Money in Your Wallet

Downsizing? Here’s How to Evaluate a Homeowners Association

Downsizing? Here’s How to Evaluate a Homeowners Association

With the tragic collapse of the Champlain Towers South in Surfside, Florida, a startling fact emerged. The building's Homeowners Association (HOA) was aware of serious structural problems. Unfortunately, the association was not financially prepared to cover with existing funds raised over the years by HOA monthly dues. As a result, a special assessment was levied. Building residents were required to pay between $80,000 to $200,000 depending on unit size. The necessary building fixes were delayed in part because residents were reluctant to pay these high amounts.

Although it is is an extreme example, the Champlain Towers South disaster brings into sharp focus the impact of a competently run HOA on the well-being of its residents. As a result, those considering purchasing a condo or other "Common Interest Community" type housing will benefit from learning about its HOA and how well it is run.

10 Tips to Make the Most Of Your Staycation

10 Tips to Make the Most Of Your Staycation

Traveling and vacations can be expensive and complicated, especially with travel restrictions due to aging or health limitations. To enjoy a vacation with less expense and without leaving behind the comforts of home, try a staycation this year. You can enjoy time with friends and family exploring your city or learning about places around the world.

When travel is not suitable or possible, there is still an opportunity for a great staycation. Follow the tips below to make the very best of your staycation!

Top 10 Ways to Enjoy Your Next Staycation!

Not Your Typical Pre-Retirement Checklist

Not Your Typical Pre-Retirement Checklist

Retirement checklists abound across the internet. Most provide wisdom on planning for a secure financial future. Saving enough, choosing appropriate investments, and eliminating debt are common recommendations. However, there is more to retirement than pure pocketbook considerations. Listed below are some retirement planning ideas that most checklists don't mention.

Does Your Retirement Checklist Have These Items?

How to Plan for the Long-Term Care of a Loved One

How to Plan for the Long-Term Care of a Loved One

When it's time to make long-term care decisions for your senior parent or disabled loved one, you may be unsure as to whether they will be better off at home or in a facility-based care community. Unless your loved one has a long-term care insurance policy, you may also be wondering how you're going to pay for your loved one's long-term care expenses — as average annual costs range between $18,746 and $100,379. To learn more about long-term care planning and for some advice on paying for long-term care services, read on.

Is In-Home Care Right for Me?

Is In-Home Care Right for Me?

A common assumption persists that "senior living" means residing in a skilled nursing, assisted living, or memory care facility. In fact, the vast majority (96%) of adults 65 and older live in the community (homes or apartments). The motivation to "age in place" at home has a lot of appeal. An AARP study found that 90% of older U.S. adults want to stay in their homes as long as possible. The reasons for this are:

  • More independence
  • Familiar surroundings and routines
  • Established relationships
  • Lower living expense
  • Avoid the cost of moving

However, as people age, the potential for needing assistance increases as the incidence of physical and mental problems grows. This threatens the ability to age in place because the older adult needs the support of caregivers.

Top 10 Budgeting and Finance Apps for Seniors

Top 10 Budgeting and Finance Apps for Seniors

As seniors enter retirement or financial situations change, there are resources available to help manage budgets, track spending, and plan for expenses. According to the Survey of Consumer Finances, 60% of people aged 65 or older have some debt, including medical, credit card, and housing debt. With senior debt rising and technology growing, it is advantageous to use online budgeting tools and apps to avoid, save more, spend less, financial despair and enjoy retirement.

Get Your Finances on Track with These Apps and Online Tools

Is Now the Right Time To Buy Retirement Housing?

Is Now the Right Time To Buy Retirement Housing?

Once children have grown up and left the family home, many active older adults consider moving to a new home. Motivations might be driven any one or a combination of goals:

No matter the reason, the first decision is whether to rent or buy. I'll cover the rent versus buy decision in a future installment, so for this blog, assume the "buy" button has been pushed.

10 Reasons To Get Rid Of Your Car

10 Reasons To Get Rid Of Your Car

Cars are a big part of American culture. For many, learning how to drive was a sort of rite of passage. You likely remember getting your first vehicle and some of the adventures you took with it. We love our cars, and we take them everywhere. Our homes, neighborhoods, and even cities are built around cars as a primary method of transportation. However, as we get older, we might begin to realize we need our car less and less. Alternative methods of transportation might even be safer and more convenient.

Ten great reasons to get rid of your car

How To Find the Right Financial Advisor

How To Find the Right Financial Advisor

As you approach the end of your career, it is important to actively think about financial planning. One of the most critical aspects of planning for retirement is deciding who will help manage your finances. When looking for a financial advisor, many factors should be considered. You might know several financial advisors personally, but your neighbor's cousin isn't always going to be the best fit for your needs. This article will cover ten tips for finding the right financial advisor towards the end of your career!

Finding the Right Financial Advisor for You