Integrating financial planning with gerontology

IT IS common to think of financial planning as a systematic approach whereby individuals maximise the existing financial resources to achieve their financial goals and objectives.

Anyone can learn the basic tenets of financial planning - diversify your investments; prepare for unexpected events; draft proper legal protections; optimise your tax; plan early for retirement, budgeting and debt management.

But as we age, we should also broaden financial planning with insights from gerontology. As Singapore's population is ageing rapidly, the value of financial and gerontology knowledge is increasingly important.