Solo Seniors are the growing number of older adults who are childless. While most older adults can rely on their children or spouse for assistance with planning for the future, Solo Seniors find themselves navigating many issues alone. In 2016, census information revealed that 28.2 percent of households in Canada were one-person households – a 25.7 percent increase from 2001. The most significant share of these households being in Atlantic provinces due to the aging population.
The challenge of caring for a family member with Alzheimer's or another form of dementia is insurmountable for most people. It requires full-time caregiving with specialized skills and extraordinary patience. Considering that many adults with an aging parent have jobs and families of their own, they can't afford the time to devote to that type of care.
You worked hard for years to enjoy your retirement, so it can be devastating to hear about scammers who will take advantage of people and their money. Some of these scams and underhanded dealings are directed toward seniors. The Canada Safety Council reports that con artists tend to believe seniors have good credit, and scammers hope the seniors will not report the crime out of embarrassment or that they will make unreliable witnesses.
Topics: Budgeting & Finances