How to help aging parents manage their money
Numerous studies have shown that our ability to manage complex tasks diminishes as we get older. For financial tasks, the decline typically starts after age 60. But because the decline is gradual, many seniors don’t realize that they’re having trouble managing their money, says Michael Finke, dean of the American College of Financial Services, who has researched cognitive decline’s impact on financial decision-making.
Ambrose, Eileen and Block, Sandra, "How to help aging parents manage their money" (2017). In the News. 2441.