Money management classes for older adults start May 13

Home Repair Resource Center (HRRC) helps senior prepare for the lifestyle transitions that come with age. Moving from work to retirement, or from one’s home to an apartment or assisted living facility, are among the changes that can pose physical, emotional and financial adjustments to seniors and their families.

To help seniors prepare for such transitions, HRRC will offer a series of free, one-hour classes this spring and summer, focusing on financial issues affecting seniors:

Tuesday, May 13: “Managing Your Money as You Age” will cover the importance of budgeting and credit management, especially when adjusting to a fixed income; maintaining good credit and low debt; and how to protect oneself from fraud and scams.

Tuesday, June 10: “Should You Stay, or Should You Go?” will help seniors decide if staying in their home is the best option—economically, physically and mentally. The class will cover financial options, such as refinancing, home equity lines of credit, and reverse mortgages; the pros and cons of community or assisted living; and how to get the most out of one’s home, by planning early.

Tuesday, July 8: “Asset Building & Estate Planning” will help seniors plan what will happen to their estate and finances. The class will cover managing cash and investments to protect assets, avoid the risk of running out of money, and eliminate unnecessary stress and problems.

The classes will begin at 11 a.m. at the Cleveland Heights Senior Center, 1 Monticello Blvd., and light refreshments will be provided. Residents of all communities are welcome, and reservations are not necessary. For more information, call 216-381-6100, ext. 13 or e-mail tallen@hrrc-ch.org.

Keesha Allen

Keesha Allen is the financial and homeownership counselor for HRRC. She teaches new homebuyer classes, facilitates the city's down payment assistance program, and provides financial counseling.

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Volume 7, Issue 5, Posted 7:15 PM, 05.01.2014