Contributed by: Sandra Adams, CFP®
I was recently given the opportunity to visit one of the nation’s top research university’s that has a research institute dedicated to aging – quite a treat for a geek like me interested in the study of gerontology! The trip attracted my attention to current studies that focus on topics such as how technology can impact the lives of older adults, and how different generations interpret and understand financial concepts and financial advice – both interesting concepts to our work with clients here at the The Center.
My favorite take-a-way from my trip was a new awareness of the new technology service resources that are now available. So many of my conversations with clients center around the independence and the desire to remain in their family owned homes for as long as possible. What I learned on my recent trip was how new technology and sharing economic services can make it possible for older adults to fulfill their wants and needs, and potentially make it possible for them to remain active and independent for far longer than they ever thought possible.
How can you or an older adult in your life make this work in your favor?
- Start by becoming aware of new technology and the sharing service economy. What am I talking about here? Services like Uber for transportation, Pillboxie for medication reminders, Heartwise and Care Beacon for health monitoring and assistance, Washio for laundry services, Blue Apron for easy meal preparation, Task Rabbit for locating help with tasks around the house, and so many more.
- Begin to think about your long life planning and what options and preferences you have in mind for your housing, care, etc.
- Work with your financial planner and other professionals to put real plans in place to make sure your preferences can come true, and to make sure that you have access to all of the best and, if it makes sense, most technologically advanced, resources available to assist you.
Technology isn’t just for your kids and grandkids! The tools and services now available can be used to make the aging process a more convenient, active and independent one for the ages – if we allow ourselves to explore it!
Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc. Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.
The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Sandy Adams and not necessarily those of Raymond James. Raymond James is not affiliated with and does not endorse the services of the above mentioned companies in this material.