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4 Reasons the Elderly Should Try Crowdfunding

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Crowdfunding may have originally been invented for the benefit of entrepreneurs, but it is now a source that helps meet the needs of many people, including seniors. Bloomfield Township, MI, caregivers discuss 4 reasons your aging loved one may want to give crowdfunding a try.

1. Pay for Medical Expenses and Non-Medical In-Home Care

During your loved one’s senior years, he or she may encounter many age-related concerns, including serious medical conditions. Treating these illnesses could be expensive, especially if your loved one lives on a fixed income. Insurance companies may put limits on the type of care your senior loved one can receive, including long and short-term caregiver assistance. However, crowdfunding is a way for your senior loved one to raise money to pay for Bloomfield Township at-home care, medications, new treatments or surgeries, and other costly health-related expenses. 

2. Increase Socialization 

Getting involved in a crowdfunding campaign could help your loved one prevent depression and isolation. Your loved one can interact with other people of various ages who agree with his or her cause. This type of socialization could prevent your loved one from having high levels of stress and anxiety, which can lead to a stroke, heart attack, or other serious medical issues. 

3. Raise Awareness 

There are many issues aimed toward seniors that go unnoticed, but crowdfunding is a great way to raise awareness. By starting a crowdfunding campaign, your loved one can engage others and grow an audience. Sometimes raising awareness is even more beneficial than raising money. A crowdfunding campaign could spark the interest of potential investors who want to do more to help with the issue, such as finding a cure for an age-related disease or putting an end to age discrimination. 

4. Keep the Brain Active 

There are a variety of crowdfunding platforms seniors can take advantage of that can help them raise money and make a cause more visible. Regardless of which platform your loved one chooses, he or she will keep his or her brain stimulated and engaged while running the campaign. Your loved one will need to interact with others, answer questions, form new ideas, and give feedback. This makes crowdfunding a great way for your loved one to prevent or slow memory loss, which often leads to dementia and Alzheimer’s disease.

If you and your loved one would like to learn more about crowdfunding, reach out to Home Care Assistance, a leading provider of live-in and respite care. Bloomfield Township Home Care Assistance is here to help your loved one age in place safely and comfortably. Call one of our friendly Care Managers at 248.283.0835 today to learn more.