Money And Aging

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M Age changes things.  Like it or not, our ability to manage complex tasks may decline with age, and financial tasks are complex.  Family members may be surprised to see overdue bills on their aging parents’ table.  First suggestion:  start talking early about a plan.

V By the time a person has lost their ability to make good choices, they may have also lost the ability to determine who they can trust.  That’s why we say, start the conversation early.  Yes, there are unscrupulous people, even relatives.

M Yes, it’s time consuming and even emotionally draining, but the benefits in the future years far outweigh those challenges.