Aging and Finance
Preserving Financial Autonomy: The Role of Cognitive Function
September 20 @ 12:00 pm - 1:00 pm EDT
Financial autonomy, having control over your financial decision and behaviors, is something that many of us take for granted. However, cognitive decline and impairment can reduce or even lead to the loss of our financial autonomy. In this webinar, we will provide a primer on cognitive function and how it impacts financial autonomy, and how you can be both protective and proactive about preserving your and your clients’ financial autonomy.
Here's an excerpt from the webinar:
In the United States, autonomy, the ability to act on one’s values and interests and to control your own affairs, is a key component of psychological wellbeing. One type of autonomy that many of us take for granted is financial autonomy. I define financial autonomy as having control over your financial decisions and over your financial behaviors. For example, deciding to sell your home would be considered a financial decision; completing the paperwork on that sale would be a financial behavior. Imagine if you needed formal authorization or approval from a relative or fiduciary to make this decision? Or every time you wanted to charge over a certain amount on your credit card? You no longer have financial autonomy.
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Read more in Dr. Kennedy's article published in the online magazine, Financial Advisor, titled "Preserving Financial Autonomy: The Role of Cognitive Function."