The Financial Resources File
Starting a financial resources file for an older adult will save on time and confusion. It is helpful to keep all information in one place. Below is a list of some of the items that should be included:
- List all bank accounts:
- Checking, savings, and money market
- Names and phone numbers of banking officers, stockbrokers, and any other important people involved with financial concerns
- List names and telephone numbers of all financial advisors, accountants, and social-service workers.
- Put together a monthly income statement, with any of these that apply:
- Salaries, wages
- Rents
- Social security for both husband and wife
- Royalties, individual retirement accounts (IRAs)
- Pensions for both husband and wife
- Bonds
- Annuities for both husband and wife
- Mutual funds
- Stock dividends
- Estimate a monthly expenses statement, with any of these that apply:
- Mortgage or rent
- Paid housekeeping services
- Utilities
- Legal
- Telephone
- Accounting
- Maintenance, repairs
- Equipment rentals
- Out-of-pocket medical and dental
- Insurance premiums
- Medicines
- Food
- Gifts
- Clothing
- Charitable contributions
- Transportation
- Miscellaneous
- Estimate a net-worth statement from the information above by subtracting expenses from income and assets.
Workplace Options. (Revised 2025). The financial resources file. Raleigh, NC: Author.