6 Signs You Should Be Talking About Money with Aging Parents

talking about money with aging parents

Problems managing finances could be a sign of bigger issues

Memory loss, loss of judgement, and money management can be a dangerous combination.

A pattern of financial mistakes and declining money skills could be the first signs that your older adult may have a more serious cognitive problem like Alzheimer’s disease, dementia, or mild cognitive impairment.

 

Warning signs that you should be talking about money with aging parents

The experts at True Link share a list of warnings signs in 6 areas of financial management. Problems in these areas tell you it’s time to talk with your senior about money.

This can be an uncomfortable topic to discuss, but starting conversations about helping with money management earlier rather than later can help avoid major financial disaster down the road.

Find out how to spot signs of potential problems in 6 key areas:

  • Managing the checkbook
  • Handling cash
  • Using credit cards
  • Paying bills
  • Using the ATM
  • Falling for scams

 

Next Step  Find out about 6 warning signs that your senior might need help with finances on the True Link blog

 

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How to Talk with Parents About Aging: Conversation Starters
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New Credit Card Protects Against Fraud

 

True Link is a financial services company committed to protecting vulnerable individuals, including seniors and adults with special needs, from becoming victims of fraud, scams, and exploitation. The company provides tools that can be self-directed or managed by family members, caregivers, or guardians. With True Link, you can detect suspicious account activity and block unwanted transactions, all while preserving an individual’s independence and protecting their assets.

 

By DailyCaring Editorial Team
Image: Kiplinger

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