Friday, July 2, 2021

Selecting a Financial Advocate You Can Trust

In our post of June 19, 2021, we discussed how cognitive decline can derail your plans to achieve your financial goals in retirement. We suggested in that post that you read recent research available from the Stanford Center on Longevity (SCL) and Society of Actuaries for steps that can be taken to transition financial decision-making to children, family members or other agents on a timely basis.

Subsequent to release of that post, we heard from our actuary friend Steve Vernon, one of the principal authors of the research, who told us that he and others have developed a practical website that takes people through the steps required to protect themselves or affected family members from potential financial loss resulting from cognitive decline. The website, Thinking Ahead Roadmap, also contains helpful spreadsheets to facilitate this process. 

We encourage you to visit this site for yourself or for a loved one. 

Good stuff, Mr. Vernon. Thanks.