Protecting Your Finances
Finances can always be a point of contention for anyone but it’s important to have meaningful and honest conversations about money, especially when one is older. In a time when financial scams and ulterior motives prevail and prey upon the elderly there are several points to keep in mind to ensure that their livelihoods and their money are safe for the years to come.
1. Finances can be exploited by family, friends and strangers.
To keep yourself safe, make sure to keep thorough inventory of your finances on a regular basis. Take notes of any transactions that you might not recall or that raise a red flag. It is prudent to be vigilant and know that while most people are not out to exploit your finances, you should know that not only con-artists are capable of doing so.
2. One doesn’t need to have Alzheimer’s or a neurodegenerative disorder to have difficulty managing their finances in older age.
While we all age in different ways, at some point it will become more difficult to manage your money. This is tied into Cognitive Aging which can best be described as the normal wear and tear one can expect from the use of our minds as our daily drivers. Research has suggested that the peak of financial management occurs in ones mid-50s.
3. Finances and their decline can be the first symptoms of dementia and other related changes.
Due to the mental coordination needed to carry out financial decisions, it can become more difficult to process or properly asses ones finances as well risk assessments. If one is beginning to experience difficulties in carrying out the assessment of risks and other financial matters, that can be an early sign of mild impairment and possibly dementia.
4. If you notice signs of financial impairment, you should start looking for other concerning signs pointing to dementia.
While not all difficulties and impairments with finances signal an imminent slip into dementia it is still important for ones well-being to analyze other behaviors for any possible signals. This is especially prudent if dementia, Alzheimer’s or other impairments have a history of occurrence in the family. Taking the necessary steps to gauge ones overall behaviors could lead to far less health and life surprises in the future.
5. If you’re worried about finances, work on keeping yourself healthy.
One very overlooked method that ties into keeping you and your finances in order is to care for yourself. Being active, working out, and eating right all have a positive effect in your overall health as well as that of your finances. Another key point to keep in mind the use of certain medications and how they can interfere with thinking. Many sedatives and anticholinergic medications can interfere with normal brain functions.
Thanks in part to this site and these five points of wisdom, you can now look forward to more knowledge and freedom from the worries and preoccupations with finances.
For more information, please visit:
https://betterhealthwhileaging
1. Finances can be exploited by family, friends and strangers.
To keep yourself safe, make sure to keep thorough inventory of your finances on a regular basis. Take notes of any transactions that you might not recall or that raise a red flag. It is prudent to be vigilant and know that while most people are not out to exploit your finances, you should know that not only con-artists are capable of doing so.
2. One doesn’t need to have Alzheimer’s or a neurodegenerative disorder to have difficulty managing their finances in older age.
While we all age in different ways, at some point it will become more difficult to manage your money. This is tied into Cognitive Aging which can best be described as the normal wear and tear one can expect from the use of our minds as our daily drivers. Research has suggested that the peak of financial management occurs in ones mid-50s.
3. Finances and their decline can be the first symptoms of dementia and other related changes.
Due to the mental coordination needed to carry out financial decisions, it can become more difficult to process or properly asses ones finances as well risk assessments. If one is beginning to experience difficulties in carrying out the assessment of risks and other financial matters, that can be an early sign of mild impairment and possibly dementia.
4. If you notice signs of financial impairment, you should start looking for other concerning signs pointing to dementia.
While not all difficulties and impairments with finances signal an imminent slip into dementia it is still important for ones well-being to analyze other behaviors for any possible signals. This is especially prudent if dementia, Alzheimer’s or other impairments have a history of occurrence in the family. Taking the necessary steps to gauge ones overall behaviors could lead to far less health and life surprises in the future.
5. If you’re worried about finances, work on keeping yourself healthy.
One very overlooked method that ties into keeping you and your finances in order is to care for yourself. Being active, working out, and eating right all have a positive effect in your overall health as well as that of your finances. Another key point to keep in mind the use of certain medications and how they can interfere with thinking. Many sedatives and anticholinergic medications can interfere with normal brain functions.
Thanks in part to this site and these five points of wisdom, you can now look forward to more knowledge and freedom from the worries and preoccupations with finances.
For more information, please visit:
https://betterhealthwhileaging
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