Guide to Maintaining Financial Independence as You Age

By
Cameron Huddleston
February 6, 2024

You likely want to live independently as long as possible. After all, the idea of relying on others for support as you age probably isn't that appealing. However, whether you can live independently might not seem entirely in your control.

For example, health issues and cognitive decline could force you to receive care from others. More than half of adults 65 and older will need long-term care—assistance with activities such as eating, bathing and dressing—according to the U.S. Department of Health and Human Services. Even adults who don't develop disabilities that require hands-on care might need help with daily money matters. That's because financial decision-making ability can decline with age, according to the National Endowment for Financial Education.

Fortunately, these unsettling statistics don't mean you have to resign yourself to giving up your independence as you age. In fact, there are plenty of ways to maintain your independence—especially your financial independence—for as long as possible.

Carefull has created the Financial Independence Roadmap to guide you through steps to take to protect your finances as you age. You can download it for free to stay independent and in control.

Download Carefull's free Financial Independence Roadmap .

Cameron Huddleston

Cameron Huddleston is an editor-at-large at Carefull and the author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances . You can learn more about her at CameronHuddleston.com or follow her on Instagram at @cameronkhuddleston .

3 Steps to Safer Money, Try it Free for 30 Days

Step 1

Start your free, no-risk trial

Step 2

Connect the accounts and cards you want protected

Step 3

Stay alerted to any unusual activity

Activate your protection

Disclaimer: The information and resources above and within the articles are provided for your convenience through Carefull and should not be considered an endorsement of products, services or information provided, or an assurance of security or privacy provided at the linked site. Bristol County Savings Bank does not own or operate these sites and does not guarantee the accuracy, completeness or timeliness of the information contained therein. We encourage you to review their privacy and security policies which may differ from Bristol County Savings Bank. Bristol County Savings Bank assumes no liability for any loss or damage resulting from any reliance on the material provided.