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
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.