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Financial Planning

Financial Planning

People are living longer lives, often as long as thirty-five to forty-five years past retirement. This means retirement planning has become a must. In this section, you will find many of the tools you'll need, to plan for your retirement.

To learn more about financial planning, just review the following list of topics and choose those most interesting and pertinent to you. If you would prefer some assistance gathering the information you seek, contact the staff of the Montana Senior and Long Term Care Division or your local Area Agency on Aging.

Financial & Insurance Considerations & Resources

  • Senior Medicare Patrol - Montana SMP, also known as Senior Medicare Patrol, helps Medicare and Medicaid beneficiaries understand and stop healthcare waste, fraud and abuse. Through specialized training, SMP recruits and utilizes volunteers to help in the efforts.
  • Disability Determinations - The Disability Determination Services (DDS) works with the Social Security Administration (SSA) in administering two disability programs. They use the same medical/vocational criteria for both programs for determining eligibility for benefits. Social Security Disability Insurance (SSDI) is a monthly benefit paid to eligible individuals who cannot work due to serious physical or mental disability. Supplemental Security Income (SSI) is a needs based program that provides coverage for adults and children whose income and resources are below a specified level.
  • Consumer Protection - The Montana Office of Consumer Protection educates consumers about deceptive business practices and administers various consumer protection laws. If you have questions about your rights, this site can help.
  • Gifting - This MontGuide explains how to use laws that allow gifts of real and personal property to reduce federal income taxes, federal gift taxes and potential federal estate taxes.
  • Legal Guide - The Montana Legal Services Developer in the Office on Aging, provides elder law training and resources for seniors, family members and social outreach workers. The program also develops pro bono and local legal services referrals, training materials and telephone assistance to seniors on related matters. This guide covers the following topics.
    • Power of Attorney
    • Estate Planning
    • Living Trust
    • Advance Directives
    • Guardian & Conservatorships
  • Long Term Care Insurance Resources
  • Medicaid - The Department of Public Health and Human Services online application. Here you can apply for food, medical, or cash assistance.
  • Medicare - Apply for Medicare, find a Health and drug plan or get started with Medicare. If you would like help making Medicare work best for you, contact the Montana State Health and Insurance Assistance Program (SHIP),
  • Reverse Annuity Mortgage (RAM) - Lower income seniors 68 years or older have the ability to borrow the equity in their homes to increase monthly income.
  • State Insurance Commission Senior Information Center - The Office of the Commissioner of Securities & Insurance, Montana State Auditor, is a reliable and objective information resource for Montana’s seniors.
  • Social Security Benefits - This site has a large library of online services and information on your Social Security benefits.
  • Talking With Aging Parents About Finances - This MontGuide is a resource developed by the Montana State University Extension program. It provides strategies for dealing diplomatically with family finance issues with aging parents.
  • Veteran's Benefits - The Veterans Benefits Administration site is a one stop resource for all veteran benefits and resources.