There is a great article in the New York Times today dealing with the diminished mental capacity that can occur with our loved ones and with our selves as we get older. This is one of the things we work on with our clients as they get older. We don’t refer to it as a tribe although that word will work. We are more a team of family members, friends and trusted advisors. It might be a neighbor who keeps an eye out or a daughter who lives in another state but wants a hands on presence to stay in touch and lets us know to drop in for visit. We hear stories frequently of someone who bought an annuity and then found out about the fees and restrictions after it was a done deal. We have worked with clients to minimize the damage done from stolen identities. We’ve helped clients change bank account and credit card numbers. We’ve helped clients who don’t have a computer automate their utilities bills. We’ve helped clients buy and set up a computer so they could better keep track of their distant family and relatives. Part of getting older should be enjoying life not worrying about all of life’s minor details.
One of the things we encourage our friends, family, and clients to do is to maintain an active lifestyle and social network. This is particularly important during major life changes, from the empty nest to retirement and especially after the loss of a loved one. Keeping active keeps the body healthy and that includes the brain.
I encourage you to read the article and let us know what we can do to help you or a loved one. As Cognitivity slips financial skills are often the first to go.