How to Protect Seniors from Financial Scammers

Financial scams directed towards elderly

Over 90% of elderly financial fraud victims are preyed upon by their own relatives. Tactics used by those financial scammers include sharing a bank account with a retired family member, outright theft, or falsely promising to deliver care or services in exchange for money.

How to Discuss Finances with an Aging Parent

Elderly couple reviewing finances

Your elderly father, who was an accountant, died suddenly last year, leaving your aging mother alone in the house you grew up in. Dad managed all their household finances, so mom is still having trouble doing so. And although mom’s health is good, you’d like to discuss finances with her to ensure she’s prepared for the future. However, anytime you’ve tried to bring up the topic, she’s quickly brushed it aside. What should you do?