A team of a gerontologist, a senior advocate attorney and an actuary have developed an extremely accessible tool to assist seniors in planning for their financial security. Unfortunately, as seniors age they often lose their financial acumen and can become the victims of financial fraud and abuse.
Gerontologist Marti DeLiema of the University of Minnesota School of Social Work, attorney Naomi Karp, formerly of the Consumer Financial Protection Bureau (CFPB), and actuary Steve Vernon recommend that every senior choose a financial advocate to manage their daily finances, deal with health insurance, manage investments, and pay bills related to the home when the time comes. The financial advocate may be a family member or a professional. Either way, on their website, the Thinking Ahead Roadmap, the three list the factors to consider in making your choice.Read More