11/10/2015 – Why seniors don’t fear elder financial abuse (CNBC)

Nov 10, 2015 Comments Off by

Allianz Life queried over 1,200 seniors and more than 1,000 people ages 40 to 64 about seniors’ finances and found that among the seniors, 89 percent were confident they could handle their money on their own. At the same time, 22 percent of the younger group said they were not confident in their own ability to recognize elder financial abuse, or were not sure.Some 18 percent of family or friends of elderly people are worried about them falling victim to financial abuse, but only 11 percent of the elderly worry. The elderly are also more confident that they have the resources to protect themselves from financial fraud: 82 percent believe that, compared with 58 percent of their family members and friends.The confidence of the seniors may make them even more vulnerable to financial scams or financial abuse by friends or family members, said Walter White, president and CEO of Allianz Life.

 Read the full article in CNBC.

Financial Landing 2015

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