How To Stay Financially Fit As You Grow Older With Barbara Micheletti, MS, Gerontologist

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[127] – Understanding how to make the most of whatever resources are available to you as you age and how to plan for the future can be daunting.

But it doesn’t have to be. 

In this episode, Jeremy Keil speaks with Barbara Micheletti, MS, Gerontologist, about aging and money to help you prepare in advance for the inevitable age-related money issues. Barbara shares how she got to where she is today in her career and covers three of the most important subjects from her Aging and Money Blueprint Operating Program.

Barbara discusses:

  • What a gerontologist does
  • How to avoid becoming a bag lady
  • The best way to avoid getting scammed as you get older
  • The top ways to stay healthy and active as you age
  • And more

Aging And Money

What A Gerontologist Is And Does

A gerontologist specializes in aging adults. They are not medical doctors. They are trained on the biological, physiological, psychological, social, and cultural aspects of aging.

Gerontologists can also provide support in areas such as advocacy for elderly rights, financial planning and end-of-life decisions. Ultimately, their aim is to help aging adults live life to the fullest and remain independent for as long as possible.

The Number 1 Way To Avoid Becoming A ‘Bag Lady’

As everyone ages, the likelihood of developing chronic diseases such as diabetes, hyperactive thyroid, hypoactive thyroid, blood pressure issues, etc., increases. Because women tend to live longer, they are often worried about becoming a ‘bag lady’ where they spent so much on their husband’s medical costs they don’t have much left to support themselves when they are a widow.

The number one way to avoid being financially destitute is to work with financial professionals. Barbara Micheletti believes it is of the utmost importance that women work with solid financial professionals because their financial future in many ways depends on it. 

A retirement planner or financial planner can offer comprehensive financial planning, keep you invested in the stock market and interested and actively involved asking questions, and take stock annually of what is happening financially and physically in your life so you stay self-aware of your aging. Additionally, an insurance agent who offers long-term care, disability, and life insurance products can help you stay on top of your aging care needs.

Working with a financial professional to take care of your aging financial needs is like a professional golfer having a caddy to help with their game. You can do it yourself, but having professional help not only makes it easier but reduces the burden of worrying about it and  provides you with some assurance that your finances are taken care of.

The Number 1 Way To Avoid Scams As You Get Older

A surprising statistic about scams is that men are fraud victims more often than women. Nonetheless, everyone is a potential victim of fraud. 

According to the Federal Trade Commission, people aged 30 to 39 and 60 to 69 are among the most vulnerable to losing money to fraud, but those aged 80 and up lose the greatest amount of money to scams and fraudulent activity, on average.

So, we become more vulnerable to losing more money to scams the older we get. The number one way to avoid getting scammed as you get older is to question everything.

A lot of times, scammers act as authority figures like financial professionals, government officials, and even your family. So question everything and work with a financial professional who you trust because they can be a trusted second set of eyes and ears to help you identify a scam.

The Number 1 Way To Stay Healthy And Active As You Age

The last of the top 3 issues is declining cognitive and physical health as we age.

The best way to prepare for and prevent age-related cognitive and physical decline is by staying healthy and active!

All our brains are slowing down, so in order to keep sharp, Barbara recommends any type of activity that connects both the mind and the body. So any physical activity that also challenges you mentally is your ideal exercise.

In Barbara’s research, she found that martial arts including Qi Gong, Tai Chi are very beneficial, and especially Brazilian jiu-jitsu which is really a form of “human chess” and a sport where you’re engaging in physical activity and a mental challenge, simultaneously.

If martial arts isn’t your thing, don’t fret! Any type of mind-body connection is optimal. It’s also important to include weight lifting in your exercise plan as you age to help prevent the loss of muscle mass and maintain your mobility.


To learn more about aging and money, check out the resources below!

If you have any questions, feel free to contact us or our guest, Barbara Micheletti, using the contact information provided below!


Connect With Barbara Micheletti:

Connect With Jeremy Keil:

About Our Guest:

Barbara Micheletti, MS, Gerontologist is a 25 year Gerontologist consultant with 13 years of experience as a former award-winning insurance agency owner and business advisor along with being trained as a financial planner. Barb is on a mission to change the way financial planners, insurance professionals, and senior-focused industry leaders engage with their aging clientele in a rapidly aging society. She is the go-to expert for leaders and professionals in learning how to become an aging specialist and apply those skills to both current and future clients in an aging society.



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