New Online Tool from the National Council on Aging Provides Older Adults an EconomicCheckUp®
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New Online Tool from the National Council on Aging Provides Older Adults an EconomicCheckUp®

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December 10, 2013

NCOA Media Contact:
Brandy Bauer
202-600-3126
brandy.bauer@ncoa.org 


Washington, DC – The National Council on Aging (NCOA) today launched a new online tool, EconomicCheckUp® (www.EconomicCheckUp.org), to assist older Americans with budgeting, saving money, employment, and achieving greater financial security.   

“Nearly half of all older adults are economically insecure, living one bad break away from economic crisis,” said Ramsey Alwin, NCOA’s vice president of economic security. “EconomicCheckUp® enables low- and middle-income seniors to understand their financial situation better and find personalized, appropriate solutions to save money.”  

EconomicCheckUp® asks a series of questions to help older adults identify benefits and services that could save money; find ways to cut expenses; better utilize existing assets, such as wages and home equity; and develop a concrete plan to achieve greater economic security. Early tests of the tool in 25 communities helped vulnerable older adults save, on average, $250 in their monthly budget, or $3,000 a year.

EconomicCheckUp® is one of a suite of online tools designed by NCOA to help seniors maximize their money. Other tools include BenefitsCheckUp®, which screens for thousands of public and private benefits programs, and My Medicare Matters™, an educational site that helps people with Medicare make the most of their coverage.

“NCOA’s goal is to improve the health and economic security of 10 million older adults by 2020,” added Alwin. “Giving older adults and their caregivers access to one-stop resources like EconomicCheckUp® that can free up savings is one way we plan to achieve that goal.”

EconomicCheckUp® was developed with generous support from The Retirement Research Foundation and Bank of America Charitable Foundation.

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About NCOA  
The National Council on Aging (NCOA) is the nation’s leading nonprofit service and advocacy organization representing older adults and the community organizations that serve them. Our goal is to improve the health, independence, and economic security of 10 million older adults by 2020. For more than 60 years, NCOA has been a trusted voice and innovative problem-solver helping seniors navigate the challenges of aging in America. We work with local and national partners to give older adults tools and information to stay healthy and secure, and we advocate for programs and policies to improve the lives of all seniors, especially the most vulnerable. For more information, please visit www.ncoa.org.

About The Retirement Research Foundation
The Retirement Research Foundation’s mission is to improve the quality of life for our nation’s elders. It is one of the nation’s first private foundations devoted exclusively to aging and retirement issues. It awards grants each year in support of programs, research, advocacy, and training to improve the quality of life for older Americans who are vulnerable due to frailty associated with advanced age; facing economic disadvantage and at greatest risk of falling through the safety net, and experiencing disparities related to race and ethnicity. For more information, visit www.rrf.org

About Bank of America Corporate Social Responsibility
Bank of America’s commitment to corporate social responsibility (CSR) is a strategic part of doing business globally. Our CSR efforts guide how we operate in a socially, economically, financially and environmentally responsible way around the world, to deliver for shareholders, customers, clients and employees. Our goal is to help create economically vibrant regions and communities through lending, investing and giving. By partnering with our stakeholders, we create value that empowers individuals and communities to thrive and contributes to the long-term success of our business. We have several core areas of focus for our CSR, including responsible business practices; environmental sustainability; strengthening local communities with a focus on housing, hunger and jobs; investing in global leadership development; and engaging through arts and culture. As part of these efforts, employee volunteers across the company contribute their time, passion and expertise to address issues in communities where they live and work. Learn more at www.bankofamerica.com/about and follow us on Twitter at @BofA_Community.

 

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