Clement Wealth Management Encourages Families to Discuss Financial Plans for Aging Relatives
Francis Clement, founder of Clement Wealth Management, is urging families to proactively discuss financial matters with aging relatives before a crisis arises. With the U.S. population over age 65 reaching 61.2 million in 2024, he outlines five conversation starters that respect privacy and independence while ensuring preparedness for emergencies like scams or sudden financial needs. Clement emphasizes starting discussions by asking about preferences for support rather than directly inquiring into finances. He recommends identifying trusted contacts, locating important documents, planning responses to suspicious requests, and setting a schedule for revisiting the conversation. These steps aim to help families understand their loved ones' wishes while maintaining clear boundaries on access and decision-making. The FBI reported over $7.7 billion in losses from scams targeting individuals aged 60+ in 2025. Clement highlights that scam preparedness includes knowing whom to contact during suspicious requests, using trusted communication channels, and understanding safeguards offered by financial institutions.
Topics: aging population elder fraud prevention financial preparedness