Helping At-Risk Seniors
Why At-Risk Seniors?
Millions of Americans are approaching retirement age with little savings and a lot of anxiety about their futures. Many have scant knowledge about financial issues or about the steps they could take to mitigate risk and stretch their available resources. Most have no meaningful access to objective, quality personalized financial advice and planning. Looming over all this today is the coronavirus crisis, an economic catastrophe which calls for a multisector response and immediate action.
How We Are Helping
The Retirement Resilience Program (RRP) reaches these vulnerable individuals with just-in-time information and personalized, expert guidance so they can be more financially resilient in the face of this crisis and better prepared as they approach retirement age and beyond. FFP has leveraged its relationship with the nation’s leading seniors organization to lead a powerful tech-enabled intervention that affords at-risk individuals the opportunity to receive pro bono consultations from CFP® professional volunteers regarding their personal financial circumstances.
Since RRP’s launch in 2019, FFP and its nonprofit partner have refined the program’s digital offerings, designing a virtual event series focused on key financial issues for lower income seniors, such as how to catch up on retirement savings and questions about Social Security. The events, marketed to underserved households, provide financial education to participants via webinar or tele-town hall and then enable them to connect with a CFP volunteer for personalized guidance.
“I spoke with a single woman in her 60’s who had been laid off during the COVID-19 pandemic. She was facing a sudden, unexpected loss in income and was thinking about taking Social Security benefits early. On the call, I walked her through how this would impact her in the long-run, and so she decided to continue waiting. It was so rewarding to make a real difference in someone’s life, even during a short phone call. Thanks for organizing this program – it’s a powerful help to struggling seniors in our community, and I was grateful to be a part of it.”
– Hannah Depew, CFP®
“I had an opportunity to answer telephone questions from several folks on the topic of SS and Medicare. One woman told me I made a big impact on lowering her stress level. She was out of work and needed income while she looked for a new job. I let her know she could take her SS income now and when she secured a job, she could suspend benefits so that she could get her delayed credits. She was thrilled to hear that and I was happy to make a difference in her life.”
– Linda Rutledge, CFP®, CRPC®
Opportunities to volunteer with the Retirement Resilience Program are posted periodically on ProBonoPlannerMatch.org. If you are a CERTIFIED FINANCIAL PLANNER™ professional, sign up to receive notifications as new volunteer opportunities become available.