October 29, 2014
Working with senior citizens requires special attention that planners must be prepared for, both in order to protect themselves and to serve their clients effectively.
A recent study conducted at Texas Tech University found that after the age of 60, financial decision-making ability drops about 2 percent every year; it’s just a normal product of aging. As you approach age 80, a gap begins to grow between reality and perception. I see a lot of 80-year-olds who come into my office, 100 percent confident in their decision-making capabilities because they were a financial wizard in their hay day.