A wide range of scams is bilking seniors out of millions of dollars every year, money that many of them can’t afford to lose. Here are five ways to protect them.
Financial scams targeting seniors are becoming more and more common. Seniors can become targets if they are too trusting, have retirement nest eggs, and live alone. Millions of elderly Americans fall prey to financial scams annually, and sadly 90% are committed by their own family members - usually an adult child. If you have a senior loved one that you are looking after, the financial threat posed to them is quite real. Here are some proven ways to help your loved one avoid financial scams targeting seniors.