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Changes to the brain and loneliness may make seniors prime target for financial fraud. In this series, Marketplace explores the reasons some aging adults are falling into financial traps. Read more on Marketplace.org
Every year, $3 billion is stolen or defrauded from millions of seniors, according to the US Department of Justice. Sometimes, good judgment amounts to hanging up the phone: Older adults who find it difficult to end a conversation with bogus telemarketers may be at risk for dementia, new research suggests.
The adoption of electronic banking and credit card transactions have made financial services easy to manage 24-hours-a-day, 7-days-a-week, often from remote locations. But that same convenience gives scammers the access they need to prey on unsuspecting seniors. According to a 2016 study, people 50 and older hold 83% of the
As a family caregiver, you went into the job knowing it would take much of your time. You may not have expected it to take quite so much of your money. Some 42 percent of family caregivers spend more than $5,000 on unreimbursed care for loved ones. Fortunately, there is
A recent survey by the National Endowment for Financial Education found that seven in 10 adults say they have difficulty talking to their families about who will make financial decisions for an aging family member who loses the ability to safely handle their money. Part of the problem is the
Each year over 43 million Americans provide unpaid care to a family member, usually a parent. But caregivers should carefully consider their own financial situation before they chose to leave the workforce to care for a family member. Most of the time adult children can manage medical appointments and financial obligations. Often,
Americans between the ages of 70 and 90 are still the wealthiest age bracket in the U.S. Unfortunately, they are also prime targets for financial exploitation and abuse. These abusers often target women between age 80 and 89, men who have recently lost a spouse or partner, those who are
