One of the first signs of cognitive aging, the process by which cognitive abilities decline with age, is problems managing one’s own finances. Cognitive aging also puts a person at a greater risk for fraud and exploitation. Learn about the Seven Steps to Prepare for Cognitive Aging.
Aging seniors, especially elderly individuals who live alone and manage their own financial activities, sometimes create habits of spending money “collecting” items or splurging on mail order advertisements. Here are some helpful ways to approach and manage spending habits that will be of use to seniors and their family or caregivers.
For aging seniors, staying on top of financial affairs becomes increasingly challenging. Tasks include diligently reviewing your accounts for errors and checking for honest mistakes, logging into online banking and accounts, and remembering to keep everything current. Learn more about seniors’ financial vulnerabilities here.
Jan RoSe wrote this great article about our company in Calgary Prime Times! It helps explain how Financial Concierge Inc. can provide seniors with peace of mind around management of financial affairs.
Age-associated financial vulnerability increases as you get older and one factor is cognitive decline. Here’s a list of 5 indicators of financial vulnerability to watch out for. If any of these things are happening, seek help.
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