How to Help Aging Parents Manage Their Finances

As we age, financial capability may decline – a vulnerability that fraudsters often target. Taking the right actions to help monitor and manage parents’ financial tasks not only protects their assets, it also prepares you to lend a helping hand when necessary.


[Title cards appears by saying "HOW CAN I HELP MY PARENTS MANAGE THEIR MONEY?"]

[Elderly couple sits together at a desk looking at a credit card as they enter its information into a laptop]

Money conversations can be tricky, especially with elderly parents.

After all, when you were a child, they took care of you.

But as they age, mom and dad may need your help managing their finances.

[Elderly couple is sitting on the couch looking at a tablet when their adult children join them]

Where to begin? Start by talking.

Share your own financial plans and concerns, and then ask what steps they have taken.

[The adult children are now showing their elderly parents how to do certain things on the laptop]

Actions may be even better.

Find out where your parents keep important documents. Offer to help with simple tasks such as organizing files or setting up automatic payments.

[The elderly man finishes washing a dish and hands it to his granddaughter for drying while her mother talks to him]

[The son looks over bills with his elderly mother]

Small steps now can make it easier for parents to let you provide more extensive help later.

[The grandparents, their kids and the grandchildren pose for a photo together]

When it comes to protecting your parents' financial lives, talk with a Mutual of Omaha Advisor for more guidance.

[The Mutual of Omaha Advisors logo appears]