Too often we easily dismiss this because our aging parents or loved ones are intelligent, strong individuals who won't fall for some hair brained scheme. But look at all the people who have been hurt by the likes of Bernie Madoff! That set off a world of trouble for almost everyone.
So here are 10 Scary Financial Scams That Target the Elderly. I hope this article gives you good food for thought and opens a healthy discussion with your aging parents and loved ones so that you can avoid financial scams with your aging parents and loved ones.
Author written very nicely: "We easily dismiss this because our aging parents or loved ones are intelligent, strong individuals who won't fall for some hair brained scheme."
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If your aging parent is already showing any signs of cognitive impairment, act fast. Get a durable power of attorney signed and notarized before it's too late. It's too late when a parent can no longer make a competent decision about money.
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I used to be one of those that thought my grandparents were smart enough not to fall for those kinds of things. That was before my grandmother let a complete stranger into her home to wash the windows who ended up stealing some of her medication. That's why I really want to hire a nanny for them who can make sure this doesn't happen. No one is going to trap my grandparents in one of those scams. I appreciate you warning us.
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