Solo-Agers

Did you know 25% of Baby Boomers have no children? Based on the most recent census count, that translates to nearly 19 million Americans. Additionally, 33% of Americans aged 45-62 are single.

For these two groups of people, proactive planning for aging is even more important than for those with children and spouses or partners. Not knowing who will help with decision-making, care, or other important age-related concerns often leads to no planning at all. This situation effects so many more people than we might think.

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Avoiding financial landmines for seniors

As the seniors in your life age, it is especially important for family members or legal representatives to keep a close eye on their finances.

The slow progression of dementia can manifest early on with poor judgment surrounding financial matters including allowing insurance policies to lapse, or forgetting to manage certain investments correctly. It can also become apparent in more obvious ways such as not paying bills on time or overpaying, or difficulty with simple math, and struggling to pay at a check-out counter. Older adults are also vulnerable to financial abuse and scams and should be reminded of red-flags.

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