Tips for Seniors

Free Financial Advice For Seniors

Free Financial Advice For Seniors

Financial advice from a trusted source is something almost everyone needs and for seniors on a fixed income it can be especially important.  If you haven’t considered it before, think of it as a financial review to see where you really stand. However, professional help can be too prices for many of us. Luckily, there are some reliable resources you can use that provide free advice.  You can find many online resources as well as in-person help in most communities.  A few searches online will point you in the right direction.  Here are some ideas to get you started.

Call your local senior center.  If they aren’t hosting workshops or other events they should know of other agencies or schools that are.  Your city, county or state probably has some sort of senior advocate program.

Call Adult Day Care facilities, especially those that are grant funded.  They might have programs or know of others.

Talk to your local bank branch. They can set an appointment for you to meet with a financial advisor.  The advisor has bank products for sale and is likely on commission.  You are not obligated to buy anything and it makes sense for them to give you good solid information

Find out if there are senior education programs at local colleges or universities. 

  • Visit AARP.com’s website for a large searchable menu of reliable information.  You’ll also find a variety of tools you can use to implement your new knowledge such as budget planning and many financial calculators (at last count 18). Much of the information is completely free.  A $12 annual membership gives you full access. There is a library of articles and podcasts on Scams & Fraud, Living on a Budget, Managing Debt, Saving & Investing, Taxes,and Insurance. Finances 50+ SM is a 3-part program designed to help you make and keep smart money habits. You’ll find downloadable worksheets also.
  • The National Council on Aging at ncoa.org has a free EconomicCheckUp®. They also may have a local chapter. They can be a resource by sending you to other agencies, as well as hosting workshops themselves.
  • Spend some time with the IRS on their website’s special section of tax advice for seniors.  Besides the vast array of topics the IRS offers a program of free in-person tax counseling for seniors.