Risk management is one of the most important parts of financial planning. But we seldom consider how those risks evolve as we get older. It's just one of many blind spots that can leave investors of all ages vulnerable. Many people might expect to protect their senior or vulnerable parents, but the risk-management process should begin much earlier when you make your own financial plan.

In this episode, Mark speaks with Joel Sauer, director for senior and vulnerable investor investigations in Schwab's Financial Crimes Risk Management division. They discuss how aging affects financial decision-making. Joel goes into detail about some of the various scams that investors need to understand in order to avoid them. 

Next, Mark talks with Nancy Murphy. Nancy is a CERTIFIED FINANCIAL PLANNER™ professional and Accredited Estate Planner with extensive experience in a broad range of investment and financial-planning issues. She and Mark discuss building a plan to account for the pandemic and which legal documents are essential for helping to mitigate aging risks. 

Financial Decoder is an original podcast from Charles Schwab. 

Rebroadcast was edited for clarity.

To learn more, visit Schwab.com/FinancialDecoder.

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The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.

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Investing involves risk including loss of principal.

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