In the national study, “Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society,” Americans age 65 and older are filing for bankruptcy in record numbers.  These older adults are often trying to assist their children and grandchildren with higher education and other costs.  In addition, with many more seniors raising grandchildren, finances can take a beating. This trend is expected to continue, resulting in senior citizens facing financial crisis with even stronger urgency.

            In an effort to assist seniors with making wise decisions in their retirement years, and to avoid bankruptcy and other financial problems, the Kenton and Boone County Family and Consumer Sciences Extension Agents held the seminar, “On the Road to Retirement: Protecting Your Money”.   This 4 hour seminar included guest experts from the Kentucky Attorney General’s office, a local Medicare expert, a local insurance office team, as well as a local financial planner.  

40 men and women attended this program, and in a post program evaluation, reported the following:   As a result of attending the workshop:
- 97% were more alert to scams and strategies to avoid them
-94% reported better understanding of their Medicare options,
-74% planned to talk to their insurance agent to review current coverage and the possible need for an umbrella policy
-65% planned to discuss their finances with a financial expert, or to develop their own post-retirement budget.
A follow up survey was sent three months after the program, revealing that
-86% now “stop and verify” questionable calls, mailings, or emails
-77% discussed current or common scams with approximately 100 additional people.
-77% developed or revised a budget plan for retirement years
 -73% took steps to better protect their identity