episode

#39 The Crucial Case For Monitoring The Finances Of Elderly Loved Ones

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Smart Planning 101
Episode #39 The Crucial Case For Monitoring The Finances Of Elderly Loved Ones
30:40
 

In this week's episode:

Did you know that financial mistakes are one of the biggest signs or symptoms of Alzheimer's and related dementias even up to six years prior to a diagnosis? And according to the journal of health economics, during early-stage Alzheimer's people are up to 27% more likely than cognitively healthy people to experience a large decline in their liquid assets, such as savings and checking accounts, stocks, and bonds. 

The fact, that Alzheimer's and related dementia people are likely to experience financial loss at a very early stage is one of the biggest reasons why we have to help our family members when it comes to finances, and family members and elderly loved ones need to be, or hopefully will be, willing to allow us to be helpful. 

In this episode, my guest Cameron Huddleston discusses all of the different ways that gift cards and financial scams can come to impact our elderly loved ones and the ways that we can help. 

 

Cameron Huddleston is the director of education and content at Carefull, the first service built to organize and protect aging adults' daily finances. Cameron also is an award-winning personal finance journalist and author of "Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances." She was a caregiver for 12 years for her mom, who had Alzheimer's disease.

 

About the show

Planning isn’t just about getting your will done or going to see your financial planner once a year. SMART planning involves an educated process that incorporates the latest in legal, financial, and healthcare strategies to work toward the most desirable result – the quality of life, throughout your entire life.

The biggest problem, too often, is that “traditional” notions of what is right to do in both legal and financial estate planning don’t always work in today’s world.

I created SmartPlanning101 to help all of us learn how to be better planners for the future – and stay in control. To learn how and when we need to challenge the “status quo” and “conventional wisdom.” To be in a nutshell- “smart planners.”

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