Financial Planning for Seniors
Posted by Pacesetter Financial Services
While our learning and problem-solving capacity peak when we are just 20, our financial decision-making peaks in our early 60s. From our late 60s onwards, we experience gradual cognitive decline, including our ability to understand complex financial concepts and make sound financial decisions. This means that senior Australians seeking financial advice may not have the cognitive abilities they need (and once enjoyed). If they are not aware of this fact, they can be extremely vulnerable. Below, we outline three ways to prepare for making important financial decisions in later life – for yourself or for an ageing family member. Read More