With more than 10,000 people turning 65 every day in the US, Americans aged 65 and older now hold more than 27% of all US wealth.
It's no wonder seniors are prime targets for scammers and swindlers.
An expert at the University of Michigan estimates that 20% to 25% have mild cognitive impairment while about 10% have dementia, USA Today reports.
For these seniors, the chore of accurately and promptly paying bills may be stressful and difficult to execute properly.
Fortunately, there are financial management services that can help.
"As the nation's senior population continues to grow, those who care for seniors can address fraud and cognitive impairment by investing in financial management services that extend independence for seniors by reliably paying their bills," says a post at Forbes.
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Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.