Clement Wealth Management Urges Families to Discuss Finances Before Crisis
Francis Clement of Clement Wealth Management is encouraging families to proactively discuss financial matters and caregiving before emergencies force decisions, offering five conversation starters.
Clement Wealth Management advises families to engage in proactive conversations about finances and elder care to prevent issues when emergencies arise.
With the U.S. population aged 65 and older reaching 61.2 million in 2024, founder Francis Clement emphasizes the importance of families agreeing in advance on financial management and support should an older adult become unable to manage their affairs or fall victim to scams.
Clement suggests five starting points for these discussions. The initial conversations should cover what assistance an older adult might need and what they wish to keep private. The family should also identify who to contact for unexpected needs and where crucial documents are located.
Further discussion points include preparing for suspicious financial requests, advising a pause and independent verification before acting. Clement also recommends establishing a schedule for revisiting these conversations regularly to address evolving needs.
The FBI reported over $7.7 billion in losses from scams targeting individuals over 60 in 2025. Clement Wealth Management recommends reporting suspected fraud to financial institutions and the FBI's Internet Crime Complaint Center.