AARP Endorses Financial Security Legislation on Beacon Hill

AARP Massachusetts is backing a bill on Beacon Hill that would help promote financial literacy programs. AARP Massachusetts State Director Mike Festa and AARP Massachusetts State President submitted testimony to the Elder Affairs Committee urging the committee to favorably pass House Bill No. 638, An Act Supporting Seniors’ Financial Stability.  The committee held a hearing at the State house on Monday, June 12. 

Understanding personal finance and making informed decisions is crucial for seniors. The bill advocates for the development and implementation of financial literacy programs tailored specifically for older adults.

“Tools and programs, like that proposed in House Bill No.  638 – An Act Supporting Seniors’ Financial Stability, may help older adults get a realistic assessment of their financial standing, set goals, and learn about budgeting and may be helpful in achieving this goal.”

The legislation will provide seniors with the necessary tools and knowledge to manage their finances effectively, protect against scams, and plan for retirement.

To read the testimony click here.