Money matters: focusing on financial wellness

Posted by Evangeline Wilds on February 11, 2019

Even though your residents are retired, there are still ways that you can help them strengthen their financial wellness and make good choices with their money. Here are some tips for how to incorporate financial wellness into your community’s wellness programming.

Know your charities

Invite representatives from local charities to bring materials to an interactive 
open house event where interested residents can ask questions and learn more about both giving and volunteering to help those in need in the community.

For help with online giving, Charity Navigator is a website which provides information and ratings for over 9,000 charities internationally. Point your residents to this site so that they can feel confident that their charity of choice will use their donations wisely.

The future of money
Hold an educational event focusing on the innovations taking place in the finance world. Show TED talks on topics such as fintech, innovations in banking, cryptocurrency, and more, with time for discussion afterwards.

Share the wealth

Consider starting an intergenerational finance club where your business-savvy residents can pass on advice to the next generation. Invite local business, finance, and economics students to join weekly round-table discussions on topics ranging from investments to entrepreneurship to 401(k)s.

Stay safe
Scammers targeting seniors can strike online and through phone calls, and your residents may be vulnerable to fraud if they are not wary of warning signs. Use the resources listed below to host a financial safety course where your residents can learn how to protect themselves from scams.

Protecting Yourself from Online Scams (Charity Navigator)
Top Ten Financial Scams Targeting Seniors (National Council on Aging)
Six Tips for Smart Online Shopping
Financial Tips for Seniors (FDIC)