ELI5: Explain Like I'm 5

Financial gerontology

Financial gerontology is a type of financial planning folks do when they are getting older. Gerontology comes from a Greek word meaning "old age," so the goal of financial gerontology is to plan and prepare financially for when someone is older.

When people are getting older, they might start to get concerned about their future and how they'll pay for things like medical bills or living expenses. This is where financial gerontology can be a big help! Financial gerontologists work with people to plan for the future by setting aside money and making sure it is invested in the right places. This way, folks can feel confident that they have enough money when they get older to cover their needs.