10 Tips to Make Aging Gracefully More Manageable

1. Sign up for Life Insurance

Suppose you followed your own parents' advice and bought life insurance when you were young like I did, then good for you. If you didn't, don't worry, it's not too late to get a policy.

Life insurance provides peace of mind that your loved ones won't have to worry about financial issues when they're grieving your passing. There are a variety of life insurance options, including:

• Whole Life Insurance: Also called permanent life insurance, this policy offers a payout after death as well as a cash benefit to help your loved ones pay medical bills. But it's expensive and includes a medical exam. So this particular type of coverage is ideal for those who are very healthy and with more expendable income, who want to leave their family with more in the wake of their passing. 
• Term Life Insurance: This type of policy is more affordable than whole life insurance since it doesn't build cash value. Still, it does have a payout upon the death of the policyholder. It's an excellent option for those with health conditions who may not qualify for other life insurance policies. Still, it has an age limit of 89.
• Universal Life Insurance: Easier to qualify for than whole life insurance, it's an excellent choice for healthier individuals over the age of 89 with a not-so-tight budget who want to make sure their funeral and other expenses are covered. 
• Final Expense Insurance: For those who want affordable insurance and don't have a large number of debts to cover upon their passing, this is a good way for those with strict budgets to cover funeral and other final costs.

Since each life insurance provider has its own internal algorithm for calculating monthly premiums, compare at least three companies to get yourself the most affordable rate.

2. Have a Last Will & Testament

Set your mind at ease by ensuring your finances are not left in shambles for your family by providing your last will and testament is up to date. Seek a lawyer to create the primary document for transferring your assets upon your death. Decide who will manage your estate as executor or trustee.

Suppose you don't draw up a will. In that case, you will have no say in what happens to anything you accumulated in your life, including bank accounts, securities, and real estate. Instead, all of that will be determined by the intestacy laws of the state where you reside.

3. Look for Senior Discounts

Now comes the fun part regarding tips for your financial health — discounts! I'm not just talking about all of the discounts provided by such organizations as AARP or special senior days at grocery stores.

While there seems to be a senior discount everywhere you turn, you may be surprised to learn there are even more than you think, and they can be substantial.

These two examples that surprised me:

First, T-Mobile offers an age discount at age 55, and I now save $40 a month on my phone bill. Additionally, car insurance companies offer age discounts, such as Allstate, which has a 10 percent discount to any retired person at least 55 years old.+

Make a list of all of your bills, then research each company for age-related discounts and contact them to have the discount applied.

4. invest in Balance Aids for Bathroom Safety

Did you know your balance can start to decline in your 40s? Don't wait until you're in your mid-60s and have a fall to buy yourself some gadgets you can use to help maintain your balance. A key part of embracing the aging process is surrounding yourself with the right aids.

You'll want to focus on your bathroom, as the National Institute of Aging found that 80 percent of senior falls happen there. The following bath safety items can help:

Learn More About Bathroom Safety

Our bath safety guide covers all the essentials of bath safety including bath safety best practices and bath safety aids.

LEARN MORE

5. Try Memory Foam products for Comfort

Memory foam is not just for beds. It made my life so much easier when I found memory-foam shoes while working a front-desk job in which I was on my feet for 10-hour shifts at a time.

In addition, I have memory foam mats in my bathrooms, so I can stand in comfort when I step out of the shower and when I'm in front of the bathroom sink. If you find yourself in pain and not sleeping, wedge pillows and knee pillows can make a significant difference.

Learn More About Support Cushions

Our guide breaks down various types of support pillows and materials, including memory foam.

LEARN MORE