Financial Planning Services For The Aging Population Essay

753 WordsJun 25, 20154 Pages
Seniors have recently been recognized as a potential untapped cache of financial resources for accountants. Financial planning services for the aging population opens up a new vein of revenue for financial planners. The rewards for such ventures are not one-sided. An accountant will reap the rewards of performing their job while the senior clients gain better financial stability. Aging Clients The population of United States citizens over the age of 65 has been steadily rising for decades. It is becoming increasingly common for these seniors to seek out financial planning services to stabilize and grow their finances. There are almost 50 million senior citizens alive today with the potential for that number to double in 30 years. The increase in this population alone equates to a significant demand for financial services catering to this demographic. Saving for retirement is a priority for aging citizens, but what financial plans should be made after retirement? This is the question that drives clients to financial planners. Seniors are seeking to invest their money, generate positive cash flow, and build a solid financial foundation for the future. Financial planning for seniors often centers around the funding of retirement, insurance needs, estate concerns, taxes, and investments. Benefits to Accountants With the variety of services an aging client may require, it is within an accountant 's best interest to offer those services. An innovative financial planner that

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