How to plan for the possibility of diminished capacity
Though it’s hard to think about, as we age,
sometimes we lose the ability to manage our own money and property. This is
often called diminished capacity. Today the Consumer Financial Protection
Bureau, together with the Securities and Exchange Commission, issued a consumer
advisory and investor bulletin to help you plan for your own future and to
provide tips on helping older loved ones who may need help managing their
The advisory has tips on getting your
documents in order and watching out for financial exploitation. It also has many
suggestions on ways to help your older relatives and friends with their
finances. Working together across generations can help older Americans have a
safe and secure financial future.
Please share our advisory with older adults
and their family members and caregivers!
Naomi Karp Office for Older AmericansConsumer
Financial Protection Bureau
About the CFPB
The CFPB is a 21st century agency that helps
consumer finance markets work by making rules more effective, by consistently
and fairly enforcing those rules, and by empowering consumers to take more
control over their economic lives.