{"id":3223,"date":"2021-08-12T19:51:03","date_gmt":"2021-08-12T19:51:03","guid":{"rendered":"https:\/\/kobotalk.com\/?p=3223"},"modified":"2024-12-17T16:15:58","modified_gmt":"2024-12-17T16:15:58","slug":"7-tools-to-help-older-adults-manage-finances","status":"publish","type":"post","link":"https:\/\/kobotalk.com\/BLOG\/7-tools-to-help-older-adults-manage-finances\/","title":{"rendered":"7 Tools to Help Older Adults Manage Finances"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><div class=\"pvc_clear\"><\/div>\n<p id=\"pvc_stats_3223\" class=\"pvc_stats all  \" data-element-id=\"3223\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.0\" viewBox=\"0 0 502 315\" preserveAspectRatio=\"xMidYMid meet\"><g transform=\"translate(0,332) scale(0.1,-0.1)\" fill=\"\" stroke=\"none\"><path d=\"M2394 3279 l-29 -30 -3 -207 c-2 -182 0 -211 15 -242 39 -76 157 -76 196 0 15 31 17 60 15 243 l-3 209 -33 29 c-26 23 -41 29 -80 29 -41 0 -53 -5 -78 -31z\"\/><path d=\"M3085 3251 c-45 -19 -58 -50 -96 -229 -47 -217 -49 -260 -13 -295 52 -53 146 -42 177 20 16 31 87 366 87 410 0 70 -86 122 -155 94z\"\/><path d=\"M1751 3234 c-13 -9 -29 -31 -37 -50 -12 -29 -10 -49 21 -204 19 -94 39 -189 45 -210 14 -50 54 -80 110 -80 34 0 48 6 76 34 21 21 34 44 34 59 0 14 -18 113 -40 219 -37 178 -43 195 -70 221 -36 32 -101 37 -139 11z\"\/><path d=\"M1163 3073 c-36 -7 -73 -59 -73 -102 0 -56 133 -378 171 -413 34 -32 83 -37 129 -13 70 36 67 87 -16 290 -86 209 -89 214 -129 231 -35 14 -42 15 -82 7z\"\/><path d=\"M3689 3066 c-15 -9 -33 -30 -42 -48 -48 -103 -147 -355 -147 -375 0 -98 131 -148 192 -74 13 15 57 108 97 206 80 196 84 226 37 273 -30 30 -99 39 -137 18z\"\/><path d=\"M583 2784 c-38 -19 -67 -74 -58 -113 9 -42 211 -354 242 -373 16 -10 45 -18 66 -18 51 0 107 52 107 100 0 39 -1 41 -124 234 -80 126 -108 162 -133 173 -41 17 -61 16 -100 -3z\"\/><path d=\"M4250 2784 c-14 -9 -74 -91 -133 -183 -95 -150 -107 -173 -107 -213 0 -55 33 -94 87 -104 67 -13 90 8 211 198 130 202 137 225 78 284 -27 27 -42 34 -72 34 -22 0 -50 -8 -64 -16z\"\/><path d=\"M2275 2693 c-553 -48 -1095 -270 -1585 -649 -135 -104 -459 -423 -483 -476 -23 -49 -22 -139 2 -186 73 -142 361 -457 571 -626 285 -228 642 -407 990 -497 242 -63 336 -73 660 -74 310 0 370 5 595 52 535 111 1045 392 1455 803 122 121 250 273 275 326 19 41 19 137 0 174 -41 79 -309 363 -465 492 -447 370 -946 591 -1479 653 -113 14 -422 18 -536 8z m395 -428 c171 -34 330 -124 456 -258 112 -119 167 -219 211 -378 27 -96 24 -300 -5 -401 -72 -255 -236 -447 -474 -557 -132 -62 -201 -76 -368 -76 -167 0 -236 14 -368 76 -213 98 -373 271 -451 485 -162 444 86 934 547 1084 153 49 292 57 452 25z m909 -232 c222 -123 408 -262 593 -441 76 -74 138 -139 138 -144 0 -16 -233 -242 -330 -319 -155 -123 -309 -223 -461 -299 l-81 -41 32 46 c18 26 49 83 70 128 143 306 141 649 -6 957 -25 52 -61 116 -79 142 l-34 47 45 -20 c26 -10 76 -36 113 -56z m-2057 25 c-40 -58 -105 -190 -130 -263 -110 -324 -59 -707 132 -981 25 -35 42 -64 37 -64 -19 0 -241 119 -326 174 -188 122 -406 314 -532 468 l-58 71 108 103 c185 178 428 349 672 473 66 33 121 60 123 61 2 0 -10 -19 -26 -42z\"\/><path d=\"M2375 1950 c-198 -44 -350 -190 -395 -379 -18 -76 -8 -221 19 -290 114 -284 457 -406 731 -260 98 52 188 154 231 260 27 69 37 214 19 290 -38 163 -166 304 -326 360 -67 23 -215 33 -279 19z\"\/><\/g><\/svg><\/i> <img data-recalc-dims=\"1\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"data:image\/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxIDEiIHdpZHRoPSIxIiBoZWlnaHQ9IjEiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZpMC53cC5jb20lMkZrb2JvdGFsay5jb20lMkZCTE9HJTJGd3AtY29udGVudCUyRnBsdWdpbnMlMkZwYWdlLXZpZXdzLWNvdW50JTJGYWpheC1sb2FkZXItMnguZ2lmJTNGcmVzaXplJTNEMTYlMjUyQzE2JTI2c3NsJTNEMSIgZGF0YS13PSIxIiBkYXRhLWg9IjEiIGRhdGEtYmlwPSIiPjwvc3ZnPg==\" data-spai=\"1\" border=0 \/><noscript data-spai=\"1\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"16\" height=\"16\" alt=\"Loading\" src=\"https:\/\/cdn.shortpixel.ai\/spai\/q_lossy+ret_img+to_webp\/i0.wp.com\/kobotalk.com\/BLOG\/wp-content\/plugins\/page-views-count\/ajax-loader-2x.gif?resize=16%2C16&ssl=1\" data-spai-egr=\"1\" border=0 \/><\/noscript><\/p>\n<div class=\"pvc_clear\"><\/div>\n<p style=\"text-align: center;\"><em>In this post, Sophia Young highlights seven simple tools senior citizens can use to manage finances.<\/em><\/p>\n\n<p style=\"text-align: justify;\">Retirement is a time of life when older adults can now enjoy the fruits of their labor. This time involves a ton of transition, as well as handling finances that they saved over time. However, not everyone can track spending and investments as efficiently as they can in their younger years.\u00a0<\/p>\n<p style=\"text-align: justify;\">With that said, technology can help older adults handle their finances without hiring too many <a href=\"https:\/\/kobotalk.com\/BLOG\/financial-advisor-2\/\">professional services.<\/a> From a <a href=\"https:\/\/firstly.com\/articles\/how-a-daily-money-manager-can-help-your-parents-with-money-issues\/\">money manager<\/a> to a budgeting system, there are many ways to help maintain financial independence. Here are some tools older adults can use to keep their finances in check.<\/p>\n<p style=\"text-align: justify;\">Also Read: <a href=\"https:\/\/kobotalk.com\/BLOG\/8-sure-ways-to-manage-your-money-better-and-avoid-personal-financial-troubles\/\">8 Ways to Manage Money and Avoid Personal Financial Troubles<\/a><\/p>\n<h2 style=\"text-align: justify;\">#1 AARP Now<\/h2>\n<p style=\"text-align: justify;\">For American adults, one of the best, simplest apps they can use is the AARP Now app. The mobile app, which is available on both iOS and Android, is a service connected to the American Association of Retired Persons. It has members all over the country, allowing for different kinds of perks where they are.<\/p>\n<p style=\"text-align: justify;\">For older adults who are AARP members, they can take advantage of their digital membership here anytime, anywhere. The app offers news stories as well as events for members of the local chapter. What makes it better are its member-exclusive discounts, events, and benefits.<\/p>\n<p style=\"text-align: justify;\">With the app, older adults can explore hundreds of events across the country. There are also career and skills workshops for those willing to learn a few more things. Members get discount offers that are available in their locale too, so there will be something for everyone.<\/p>\n<h2 style=\"text-align: justify;\">#2 Age Well Planner<\/h2>\n<p style=\"text-align: justify;\">Age Well Planner is another superb online tool from the National Council on Aging. Rather than a simple calculator tool, it offers an array of useful tools that can ease daily living for older adults. Those who are ageing in place would appreciate this system\u2019s expansive utility.<\/p>\n<p style=\"text-align: justify;\">The website will start with a full assessment of the current situation for older adults. From there, the system will offer several personalized resources, tools, and even expert help. One of the tools from their website is Benefits Check Up, a tool that connects older adults with assistance programs that fit their age and lifestyle.<\/p>\n<p style=\"text-align: justify;\">The Age Well Planner also includes a medicare cost estimate tool, as well as education on crucial financial skills. Their offers include guides towards creating lifetime guaranteed income and other health and wellness tools. With this, older adults can learn additional financial skills, which is vital when managing their finances.<\/p>\n<h3 style=\"text-align: justify;\">#3 Mint<\/h3>\n<p style=\"text-align: justify;\">Mint is an all-in-one financial tool that helps users track their spending and handle their budget. It can also help users manage investments, which makes it easier to stay ahead of a ton of financial decisions. Older adults can access it via a mobile app or their official website, so they have a choice on which platform they want.<\/p>\n<p style=\"text-align: justify;\">The system is flexible, allowing users to connect their many financial accounts and track their financial status in one place. What makes Mint more powerful are its additional tools that help figure out the right budget for the user.\u00a0<\/p>\n<p style=\"text-align: justify;\">Older adults tend to have issues remembering their finances due to complicated steps during payment. With Mint, all the details are in the system. They can also get reminders on the amount of payments they need to do.<\/p>\n<h3 style=\"text-align: justify;\">#4 Honey<\/h3>\n<p style=\"text-align: justify;\">Honey is another great app that can save older adults hundreds of dollars on select offers. Mostly a browser extension, the system is not only designed with seniors in mind but for general use too. Honey has a ton of partner stores online, with most stores that older adults use providing several discounts.<\/p>\n<p style=\"text-align: justify;\">What Honey does is simple: when users want to buy an item from a store, the extension searches for available coupon codes. These offer several discounts, with users reporting as much as 17% discount on average. For an older adult with the right <a href=\"https:\/\/payment1.com\/how-to-change-your-money-mindset-for-the-better\/\">money mindset<\/a>, this should be useful for extra savings here and there.<\/p>\n<h4 style=\"text-align: justify;\">#5 Acorns<\/h4>\n<p style=\"text-align: justify;\">Acorns is another all-in-one financial management tool that handles all financial details that older adults have. These include control over investments, checking accounts, retirement accounts, and more. The concept of Acorn is quite radical and can be useful for seniors in the long run.<\/p>\n<p style=\"text-align: justify;\">Acorns rounds every purchase to the next dollar, with every spare change invested in portfolios of their choice. Many of these portfolios have experts curating them, which automatically adjusts and helps money grow. The investments range from IRA accounts to even basic savings accounts too.<\/p>\n<p style=\"text-align: justify;\">The system is quite secure, backed by leading investors and investment entities. The app even uses bank-level security with 256-bit encryption, which means everything inside is secure.<\/p>\n<h4 style=\"text-align: justify;\">#6 PocketGuard<\/h4>\n<p style=\"text-align: justify;\">Pocketguard is another budget snapshot app for older adults. Unlike other apps, Pocketguard automatically connects with checking, credit, and savings accounts. It shows how much users have left to use in their daily spending, minus recurring bills and expenses.<\/p>\n<p style=\"text-align: justify;\">The app also subtracts other recurring payments, which will include savings goals from your overall income. Much like with Mint, all financial accounts will connect nicely and perform automatic tracking for expenses or money that needs to be spent soon.<\/p>\n<p style=\"text-align: justify;\">Beyond all its tools, what makes Pocketguard useful is its interface. The system is intuitive and easy to use, with an interface designed to work well even with older adults who don\u2019t have a ton of experience with technology.<\/p>\n<h4 style=\"text-align: justify;\">#7 Personal Capital<\/h4>\n<p style=\"text-align: justify;\">Many old adults have their financial health tied in many of their investments. For them to have a smooth sailing retirement, it\u2019s worth it to spend money on a few tools that will help them keep abreast with their portfolio. Personal Capital will help track investment earnings and losses, putting them in one neat package.<\/p>\n<p style=\"text-align: justify;\">With Personal Capital, older adults can track their net worth and get a general idea of their assets and liabilities. There\u2019s also a retirement planner that helps users chart a path towards financial freedom. The system can help users see the right methods they can use to meet their goals.<\/p>\n<p style=\"text-align: justify;\">The fee analyzer rounds out the available tools, which will help uncover hidden fees in older adults\u2019 portfolios. These include mutual funds, retirement accounts, and investment opportunities, so the app can help prevent overspending. It can even save more money that compounds over time.<\/p>\n<p style=\"text-align: justify;\">\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>In this post, Sophia Young highlights seven simple tools senior citizens can use to manage finances. Retirement is a time of life when older adults can now enjoy the fruits of their labor. This time involves a ton of transition,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3224,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"_joinchat":[],"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[40],"class_list":["post-3223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-talk","tag-personal-finance"],"a3_pvc":{"activated":true,"total_views":663,"today_views":0},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>7 Tools to Help Older Adults Manage Finances - KOBOTALK BLOG<\/title>\n<meta name=\"description\" content=\"Senior citizens need to understand money management as well as younger people. 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She loves talking about fashion and weddings and travel, but she can also easily kick ass with a thousand-word article about the latest marketing and business trends and finance-related topics and can probably even whip up a nice heart-warming article about family life. 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