Having a sense of control over financial circumstances supports psychological well-being as we age. After retirement, monthly income is derived from social security and financial investments. Health care expenses, like the costs of caregiving, health insurance and prescription drugs, may increase substantially based on an individual’s health diagnoses. The ability to manage financial matters in mid-and late life contributes substantially to the idea of maintaining quality of life. Available finances, not encumbered by substantial debt, contribute to the ability to receive beneficial care as individuals experience changes in health and rely on family or professional caregivers.
Click Here to Read More