10. Failing to Review Finances

Regularly reviewing your finances becomes even more important after 70 to protect against scams, fraud, and financial mismanagement. Proactive financial planning helps maintain independence and prevents stressful crisis management when unexpected expenses or issues arise.
Setting aside time for periodic check-ins with a trusted advisor or family member can catch irregularities early and ensure your budget aligns with your needs. The Consumer Financial Protection Bureau offers valuable resources to help older adults safeguard their assets and financial well-being. Learn more at CFPB Resources for Older Adults.