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Why older Americans are more financially vulnerable As cognitive ability declines with age, seniors can be vulnerable to financial abuse and fraud that may cost them a lot and hurt their retirement savings, according to this article on DailyFinance. To address this risk, seniors are advised to discuss their plans with their partner, organize their financial data, and update their will and power of attorney documents and ensure these documents are valid in the state where they live. Also, seniors may designate a family member to manage their bills and other finances in case their cognitive ability starts to deteriorate, or they may get a financial adviser or a lawyer to help them. --DailyFinance
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