Financial Literacy Program

Financial literacy is quickly becoming an important aspect of aging. With the introduction of financial tools to support aging (i.e. reverse mortgages, long-term care insurance and other investments) many seniors make uninformed decisions and in the worst cases lose their assets. To address this emerging need, LAFA will develop a volunteer-based educational and support program for seniors on topics of financial literacy and money management.

Topics will include:
1. Information about accessing resources to age in the community.
2. Long-term care planning (care coordination, caregiving, funeral arrangements, etc.).

LAFA in partnership with the Los Angeles Department of Aging has convened an Aging in Place (AIP) task force made up of members from the private, public and non-profit organizations who are working together to develop educational materials and policy on financial tools which support AIP (i.e. reverse mortgages, annuities, and insurance).

LAFA is working with statewide and national partners with the California Elder Economic Security Initiative (CA-EESI). The CA-EESI is a new tool used to measure the actual cost for a senior to live. To learn more about what LAFA is doing visit our news and events page.

The Impact of Aging

As the population of older adults increases in the coming years, senior programs, services and the City of Los Angeles need to be prepared to handle greater demands and maximize resources.
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