Financial Planning - - Contents - SPON­SOR CON­TENT FROM HART­FORD FUNDS

With the pro­lif­er­a­tion and con­stant evo­lu­tion of smart­phones, apps and ar­ti­fi­cial in­tel­li­gence, tech­nol­ogy may be able to an­swer many peo­ple’s fears about ag­ing. Hart­ford Funds’ John Diehl, Se­nior Vice Pres­i­dent of Strate­gic Mar­kets, uses re­search from the MIT Age­lab to ex­plain why fi­nan­cial ad­vi­sors should teach clients about how tech­nol­ogy can help them as they age.

What are some of the com­mon de­sires of re­tirees as they age?

Most peo­ple de­sire to main­tain their in­de­pen­dence as long as they pos­si­bly can. Be­ing able to ac­cess and par­tic­i­pate in the things that make life worth liv­ing de­fines our qual­ity of life as we age. The pos­si­bil­ity of age-re­lated phys­i­cal lim­i­ta­tions can in­cite anx­i­ety around stay­ing so­cial and sharp, keep­ing up with the de­mands of home main­te­nance, and be­ing able to age at home safely and com­fort­ably.

How can tech­nol­ogy help solve age-re­lated chal­lenges?

In many ways, tech­nol­ogy can help re­tirees live in­de­pen­dently. The new, on-de­mand, shar­ing econ­omy makes in­for­ma­tion and ser­vices avail­able 24/7, while thou­sands of apps can be down­loaded to make it eas­ier and more con­ve­nient to com­plete just about any chore, re­gard­less of age! For ex­am­ple, rideshare apps make it pos­si­ble to re­quest door-to-door trans­porta­tion at any time, sub­scrip­tion ser­vices can en­sure gro­ceries — or even ready-to-cook meals — are de­liv­ered reg­u­larly, and home re­source sites can pull a cu­rated list of crowd-sourced ser­vice providers for any main­te­nance need. Whether from a so­cial,

In what ways can tech­nol­ogy in­crease safety?

In ad­di­tion to health­care apps that make it pos­si­ble to re­mem­ber doc­tors’’ ap­point­ments and med­i­ca­tions, keep track of daily nutri­tion, and reach out for help in the event of an emer­gency, a new ar­ray of de­vices can make it eas­ier for your ag­ing clients to live at home and on their own. Homes can now be out­fit­ted with fea­tures such as sen­sors that can mon­i­tor move­ment in the home; stove cook­tops that time out and turn off if left on too long; toi­lets that can mea­sure weight and vi­tals; and smart ap­pli­ances, light fix­tures and ther­mostats.

Why should an ad­vi­sor teach clients about these tech­nolo­gies?

Ad­vi­sors who pro­vide in­for­ma­tion on these ser­vices and de­vices and ac­tu­ally show their ag­ing clients how to use them will demon­strate to their clients that they un­der­stand some of the is­sues that they may be fac­ing and are a source of ideas about how to man­age such sit­u­a­tions. ed­u­ca­tional or safety per­spec­tive, chances are that an app ex­ists to an­swer the de­mand.

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