How to Motivate Aging Adults to Make a Money Management Plan

Source: Legal Assistance for Seniors

Published: 2021


Presenters: Marti DeLiema, PhD – Assistant Research Professor, University of Minnesota, Twin Cities
Naomi Karp, Esq.

Millions of aging Americans are challenged to prepare for uncertain health and financial setbacks in addition to cognitive impairment that impacts one-third of adults over age 85. Advanced planning can reduce the negative impact of impairment on personal finances, including financial exploitation, scams and fraud, and care and spending decisions that are not aligned with retirement goals.

One of the smartest ways to prepare for changes in financial decision-making capacity is to talk with a trusted friend or family member about financial needs and wishes for the future, and to appoint a power of attorney in the event that oversight and support is needed. To motivate and guide aging adults to begin this important planning process and start meaningful conversations about money and future care, we developed the Thinking Ahead Roadmap. The content and design was informed by two years of research conducted at the University of Minnesota.


Marti DeLiema, PhD is an interdisciplinary gerontologist and Assistant Research Professor in the School of Social Work at the University of Minnesota. Using both quantitative and qualitative research methods, Professor DeLiema studies retirement security and financial victimization using focus groups, in-depth interviews, surveys and panel data. Her research is funded by the National Institute of Justice, the National Institute on Aging, the Social Security Administration, the Society of Actuaries, AARP, and the FINRA Investor Education Foundation. Prior to joining the School of Social Work, Dr. DeLiema was a Research Scholar at the Stanford Center on Longevity. She graduated with her doctorate from USC School of Gerontology where she conducted research on elder abuse and neglect in minoritized communities, evaluated outcomes of a multidisciplinary team’s response to elder abuse, and analyzed the tactics scam artists use to deceive older adults.


Naomi Karp is a consultant on aging, law, and policy for educational, governmental and non-profit clients. She is a lawyer and policy expert who has worked on aging issues for over 35 years. Her areas of focus include elder financial exploitation, guardianship, health and financial decision-making, the impact of cognitive changes, and family caregiving. Ms. Karp is the co-author of the “Thinking Ahead Roadmap”, a guide and web-based tool to help people keep their money safe as they age. Until October 2019, Karp was Senior Policy Analyst at the Consumer Financial Protection Bureau’s Office for Older Americans where she helped set the Office’s priorities when the agency opened in 2011. At the Bureau, Karp was the team lead for the Managing Someone Else’s Money guides for financial caregivers. Ms. Karp began her career as a legal services attorney for low-income and older clients and received her JD from Northeastern University School of Law and her BA from the University of Michigan.

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Thinking Ahead Roadmap-Presentation
Thinking Ahead Roadmap-Guide

Thinking Ahead Roadmap Website

Link: How to Motivate Aging Adults to Make a Money Management Plan

Topics: Caregiving, Financial Abuse, Prevention/Intervention

Access: Download, Web-based

Intended Use: Self-directed Learning

Audience: Advocates, Caregivers, Community, Finance

Level: Basic, Intermediate