Clear Money Guide
What this guide covers
A quick view of the questions and evidence developed below.
Updated August 3, 2026. Quick answer: almost everything on this list is cheap and easy in your fifties and either expensive or impossible in your eighties. The ordering principle is simple: do first the things that stop being available.
Fifties
- Sign the durable financial power of attorney and the health-care proxy. This is the whole game. Everything else can be fixed later; these cannot be signed once capacity is gone. Why the window closes without notice.
- Add a HIPAA authorisation, or your health-care agent may be told nothing.
- Name a trusted contact on every investment account. Free, no authority given away. How it works.
- Write the will, and check every beneficiary designation, which overrides it.
- Decide how care gets funded while insurance is still underwritable at a sane price.
Sixties
- Name successors, not just agents. The person you picked at 55 may predecease you or decline. A document with no living agent is a document that fails.
- Make the Medicare coverage decision knowing it is not fully reversible — the one-way door.
- Look at housing before you need to. Continuing-care communities have waiting lists and usually require you to be independent on entry, so waiting too long can disqualify you. What a waitlist deposit commits you to. If the plan is to stay put, the stairs are the usual constraint, and whether to rent or buy a stairlift turns on how many months you need it.
- Interview an institution if no individual is an obvious executor or trustee. What they charge.
Seventies
- Simplify. Fewer accounts, fewer institutions, fewer passwords. Complexity is a tax paid by whoever eventually sorts it out, and if that is a paid fiduciary, it is a literal one.
- Write the operating manual — where the accounts are, who the professionals are, where the documents live. Nobody will know by instinct.
- Bring in help before it is needed, while you can still choose and supervise. What a daily money manager does.
- Re-check the documents. Institutions get bought, agents move away, statutes change.
Eighties and beyond
- Move from planning to operating. The question stops being what to sign and becomes whether the arrangements are actually running.
- Check the monitoring is live — is the trusted contact reachable, does anyone actually look at the statements?
- Pre-arrange the things that otherwise fall to nobody, including funeral wishes and how they are paid for. Who pays, and the signature trap in the first forty-eight hours.
If you are already past the easy decade
The ordering was never about your age. It’s about what stops being possible.
Then do the fifties list today, in that order, because it is still available and the ordering was never about age — it was about what stops being possible. The four seats to fill.
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General information drawn from IRS, Medicare, HUD and state statute and regulation, not legal, tax or financial advice. Continuing-care law is state law and differs materially between states; every figure here is year-labelled and every source named. Fiduciary licensing, executor compensation and intestacy are STATE law and differ materially between states. Fee figures are quoted from published schedules on the dates stated and change without notice; nothing here is a substitute for advice on your own facts.