4/20/2015 – To Help Mom and Dad Avoid Financial Scams, Just Talk to Them (NBC News)

Apr 20, 2015 Comments Off by

The elderly are vulnerable in many ways, but financial fraud is one of the more pernicious. About 1 in 8 of the cases reported to the National Center on Elder Abuse relates to finances, and the average fraud takes$30,000 out of a senior’s pocket. Like other types of abuse, most elder financial fraud happens in the shadows: Seniors are ashamed, or worried about losing their autonomy. By some estimates, just 1 in 44 instances of elder financial fraud is reported.

 But a simple move can help seniors protect their savings. According to newly released survey data from Allianz Life, when seniors discuss their finances with a friend, family member or professional, they are significantly more likely to take preventive measures to keep financial abuse at bay.

Read the full article at NBC News.

Financial Landing 2015

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