The Clark Howard Podcast
02.24.25 Protecting Financial Accounts / TRAVEL: Navigating Rising Airfares
Feb 24, 2025
Discover smart ways to protect your financial accounts from fraud, especially for elderly loved ones. Learn why having a trusted contact is essential as cognitive decline poses risks. As summer travel approaches, find savvy strategies to navigate rising airfares and get the best deals. Explore resources like Google Flights and discover new airline routes that can save you money. Plus, dive into cruise gratuity policies and learn how to ensure your tips reach the right hands, all while safeguarding your vehicle during trips.
32:30
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Quick takeaways
- Designating trusted contacts for financial accounts can significantly protect against exploitation, especially for aging individuals facing cognitive decline.
- Flexibility in travel plans and using multi-airline search tools can help travelers navigate rising airfares and secure better deals.
Deep dives
Protecting Against Financial Exploitation
As the population ages, many individuals may experience cognitive decline, leading to poor financial decisions or potential exploitation. Financial organizations have begun implementing procedures to establish trusted contacts on accounts, allowing family members to be notified of any suspicious activity. This proactive approach aims to prevent financial disasters before they occur, offering a safety net for those who may not recognize the severity of their situation. By designating trusted contacts now, individuals can safeguard their finances against future risks related to declining mental capacity.
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