What do people 50 and older fear most about aging?

Their biggest concerns, according to recent research by AARP, is that their physical health and cognitive ability might deteriorate. They might lose their independence or have to rely on others.

Money is also high on their fears lists. The same study found that more than six in 10 older adults worry they won’t have enough of it or be able to afford paid help or care if they need it.

Ken Dychtwald is a leading expert on the impacts of Baby Boomers’ aging, best-known for his book “Age Wave.” What he overlooked until recently, he told the “New York Times,” is the level of fear this generation feels about the future, including their health and financial resources.

If you have similar worries, one of the best ways to address them is to start working now with a financial planner. It can be a sobering – but empowering – experience. A good financial plan can help you:

• Identify your underlying assumptions about the future, such as your ability to stay in your current home, or what long-term care insurance would cover, as well as what it would not.

• Build alternative scenarios of what might happen in the years ahead so that you’re not banking on just one version of your future. How might your finances hold up if your spouse or partner dies and you’re on your own? Or your children move away and can’t give you rides or run your errands?

• Take stock of the assets you have today and opportunities you might have to build those resources for the future. Your options might include downsizing to reduce your expenses, delaying retirement for a few years, or buying a long-term care policy.

Financial planning isn’t the only type of planning you should will that spells out your wishes for medical care, appoint a healthcare proxy and power of attorney, and investigate other housing arrangements and their suitability.

But you need a clear picture of your financial resources before you can address these other areas. The sooner you begin, the more options you’ll have for your future, including where you live, what you can do to stay healthy, how you’re cared for and supported, and how you avoid isolation and stay socially connected. Financial planning should be the first step – and we can help. We’re here to make you less fearful about the future – and more empowered.