Jul 11, 2011
Issues with aging can be costly for retirees‘ money (Associated Press).
– “With age comes wisdom about money — up to a point.”
– “Years of handling your own finances and investments sharpen the ability to make sound decisions. But failing to prepare for the day when growing older hampers your judgment can be costly at an age when more is at stake. Seniors older than 65 hold about $18 trillion in assets, according to government data, or about a third of all U.S. net worth.”
– “Sometimes the senior’s worst enemy is himself or herself,” says Andrew Stoltmann, a Chicago attorney and investment adviser. “Poor financial decisions and cognitive impairment go hand in hand.”
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