5 personal finance tips for older adults

Los older adults They are a very essential part of our environment socialso it is important that they receive the necessary personal attention as active users of the Finance system and that they are served with a wide range of skillstools, respect and above all sensitivity.

Director of Education Financial of CitibanamexJuan Luis Ordaz, explained that the Condusef promotes specific care protocols and services for older adults, applicable to all health care providers. financial servicesthrough strategies aimed at the attention, use of banking services and products they require.

He explained that such protocol includes the promotion of a decent treatment and respectful, service preferredprevention of cheatsas well as accompanying financial education banking products and services.

Tips for older adults

In line with these objectives and support older adults with their financethe director of Financial Education of Citibanamex presented five tips or recommendations:

1. Be clear regarding your expenses and income

Help him build a budget detailed that considers all sources of income: pensions, savings y resources additional. The bills They must be categorized and monitored continuously to ensure that they do not exceed income. For older adults it is vital to reduce Innecesary expenses and take advantage of the benefits intended for this stage of life.

2. Promotes savings and investment

Las investments are fundamental in the old ageespecially if these began from an early or middle age, since it is in this stage of life where the greatest benefits. In case of making new investments, it is essential to prioritize the security of capital regarding the possible high returns and the risk they represent.

3. Review insurance and medical planning

And safe of health it is essential. Review policies and be aware of the roofing y exclusions It will help take care of the health of older adults and be prepared for emergencies.

4. Perform succession planning

He testament It is the document that leaves instructions on your wishes once you are no longer on this earthly plane. Generally this topic is associated with the deathwhich generates fear and concern, however, is a way to ensure that the legacy we leave in this world is taken advantage of by those we love most.

5. Digital financial services

The benefits offered by technology They can be used by people of all ages, since they minimize the use of money in cash and visits to cashiers and physical branches. You should only accompany the older adult in the use of Apps o banking platformsexplain that you should not provide your personal information or banking and not accept help from strangers, so that it is not victim of cheats.