How Can You Prepare for the Perils of Aging?

March 8, 2021
It's normal for aging investors to experience at least some cognitive decline. Are you taking the right steps to prepare your finances for the future?

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  • To learn more about protecting yourself, your portfolio, and your family, check out Schwab.com/Seniors.
  • And visit Schwab.com/SchwabSafe to learn about steps that Schwab takes to keep your accounts secure.
  • To learn more about protecting yourself, your portfolio, and your family, check out Schwab.com/Seniors.
  • And visit Schwab.com/SchwabSafe to learn about steps that Schwab takes to keep your accounts secure.

Risk management is one of the most important parts of financial planning. But we seldom consider how those risks evolve as we get older. It's just one of many blind spots that can leave investors of all ages vulnerable. Many people might expect to protect their senior or vulnerable parents, but the risk-management process should begin much earlier when you make your own financial plan.

In this episode, Mark speaks with Joel Sauer, director for senior and vulnerable investor investigations in Schwab's Financial Crimes Risk Management division. They discuss how aging affects financial decision-making. Joel goes into detail about some of the various scams that investors need to understand in order to avoid them.

Next, Mark talks with Nancy Murphy. Nancy is a CERTIFIED FINANCIAL PLANNER™ professional and Accredited Estate Planner with extensive experience in a broad range of investment and financial-planning issues. She and Mark discuss building a plan to account for the pandemic and which legal documents are essential for helping to mitigate aging risks.

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