Two masked senior couple talking in the front yard
July 31, 2020
Written By:
Brian Goldman
Retirement Specialist, Financial Adviser

COVID-19 and Senior Finances

COVID-19 has made things difficult for many, especially seniors. Job losses and damage to community or charitable organizations have made day to day life much more difficult.

Many seniors are economically insecure and some even live below the poverty line. What can you do to help? More than ever, "Seniors helping seniors" can be an important battle cry.

Volunteers providing senior companionship provide an invaluable service. Or, if you are able, financial donations to food pantries can be very valuable to the community. Check with your local community organizations to see how you can help as we all work our way through these challenges together.

Your summer "down time" might be a great time to go over your retirement planning. Just contact me to set up a free retirement and policy review.

What does "CMS" Do?

Whenever major health issues strike our country, you are likely to hear about different agencies working to help. One of these is bound to be "CMS," Centers for Medicare and Medicaid Services. What does it do?

CMS oversees some of the most important organizations in the federal government, including Medicare, Medicaid and the health insurance exchanges. Currently CMS is working to empower patients so they can work with their doctors to make medical decisions that are right for them. Much of what CMS does involves tracking how money is spent. They project U.S. health spending will reach almost $6 Trillion in less than a decade.1

1.Yushra Murad, "CMS Estimates Annual U.S. Health Care Spending to hit $5.69 Trillion by 2027," Morning Consult," 26, 2018)
Brian Goldman
Retirement Specialist, Financial Adviser