by Susan M. Graham, Certified Elder Law Attorney*, Senior Edge Legal, Boise, Idaho.
Are you concerned about running out of money due to living longer, healthcare expenses, and inflation?
Many people rely on “Magical Thinking Plans”:
- “I’ll deal with this later”
- “Government programs will provide for my needs”
- “GoFundMe will pay for my needs”
- “My family will take care of me”
- “I’ll win the lottery”
- Hope
None of these are plans you can count on.
A REALISTIC APPROACH TO FINANCIAL SECURITY
Understanding whether your plan will provide a secure future starts with two essential tools:
Your Balance Sheet
List your major assets and debts with approximate values. Use county assessments, recent comparable sales, or Zillow for your home value. This reveals resources available for long-term care, family trips, grandchildren’s education, or relocating.
Remember: Home equity is a potential resource if needed.
Your Income Statement
Track monthly and annual income from Social Security, pensions, and investments. Record monthly expenses plus occasional costs like property taxes and insurance.
Now — while preparing your tax return — is the perfect time to gather these numbers.
Your Action Steps
Schedule 30 minutes this week to:
- List your assets and debts
- Calculate monthly income and expenses
- Identify any gaps
Need help turning these numbers into a comprehensive plan?
Call Senior Edge Legal at 208-344-0375 to schedule a consultation (if we are the right fit for you).
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For those of you who completed the Client Evaluation Form – Thank you!
The organization with the most votes in 2025 was the Idaho Humane Society. Thanks to your votes, we have made a donation to them.
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Call Senior Edge Legal today: Schedule your FREE 1-hour consultation [if we are the right fit]—before tomorrow’s concerns become today’s crisis. Call 208-344-0375, send an e-mail to [email protected], or Contact Us on our website
Senior Edge Legal: Empowering retirees to safeguard their independence and financial stability through strategic estate planning solutions.
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Undoubtedly you have thought of someone who could use our services. If so, please have them call us at 208-344-0375. Introductions and referrals are the lifeblood of our practice. Thank you.
* Certified by the National Elder Law Foundation
