Helping Your Elderly Parents Manage Their Money

Helping Your Elderly Parents Manage Their Money

Each month we’ll spotlight one chapter from our 3-part eBook series,  "Caring for Our Aging Parents".  

This Month's Focus is taken from eBook #3, Chapter 1: “How to Help Your Elderly Parents Manage Their Money.”

The capacity of the elderly to manage their money and protect themselves from financial predators declines with age. Alzheimer’s disease, dementia, depression, a general decline in cognitive function, and other mental health issues, physical illness, or the side effects of medications can all lead to financial incapacity.  Income and assets can decline as result of poor spending habits, inappropriate investments, inflation, or the loss of a spouse.  Sadly, many elderly people also lose money to scams. Without intervention, they could lose money and assets that took a lifetime to accumulate. So how can you most effectively help your aging parents to manage their money?

For a glimpse of what’s inside this chapter, take a look at our video. To get the full story, please download our eBook or contact Mark Stinson: mstinson@faiwealth.com or 410-715-9200.

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by FAI Wealth Management-“FAI”), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from FAI.  Please remember that if you are a FAI client, it remains your responsibility to advise FAI, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. FAI is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the FAI’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request. Please Note: FAI does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to FAI’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

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