What Is Financial Gerontology?

Financial gerontology is the study of money and aging. It is the practical application of gerontology to the principles of financial planning. This synergy enhances the recommendations for our clients.

As we travel through the various stages of life, we also face changing financial issues. For example, teenagers transition through many difficult physical and psychological changes. They may have only limited concerns about money except maybe how to obtain cash so they can do certain "things," or have certain "stuff," or gain social status among their peers.

Younger adults experience the transition from student to worker, then single person to parent with growing family—both of which are interconnected with financial decisions. The transition that people experience from work to retirement, or even just a reduction in their work activities, is a major life change. These interactions between money and aging can be overwhelming.

Later in life, people can become somewhat dependent on others. With this transition, comes an age when either purposely or accidentally there can be both financial as well as physical abuse. Even well intended adult children can make poor, improper, and unfortunate choices for their parents based on emotion rather than on expert information and professional advice.

As individuals, when we transition from one life stage to the next, we are doing it for the first time—we are novices. Today, no one should attempt these difficult transitions on his or her own. A professional—a Registered Financial Gerontologist—has the specialized education, training, and experience to provide guidance through what otherwise can be treacherous waters. Someone who has made this journey many times can help smooth the otherwise rough waters of these money and aging issues.

Consider obtaining the professional services of someone who is not only an exceptional financial advisor, but is also experienced in gerontology issues—a Registered Financial Gerontologist.

For more information on financial gerontology, visit American Institute of Financial Gerontology at aifg.org  or contact us.

Key Links
Financial Industry Regulatory Authority (FINRA) finra.org
Securities Investor Protection Corporation (SIPC) sipc.org

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