The Society of Actuaries Research Institute funded research underlying Thinking Ahead: Informing the Design of a Roadmap for Keeping Your Money Safe as You Age. That project offers a process for thinking through the issues related to a shift in money management, and it offers tools to help the consumer. The implementation tools were funded by the AARP.
One of the first steps in a plan is figuring out when it is important to seek help with daily money management. This transition is challenging, but there are consequences to waiting too long. People who do not have family members to help will still need help. This can be hard to find. In doing the research for the Society of Actuaries late in life projects, I found the American Association of Daily Money Managers.
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