logo-image

Age-Associated Financial Vulnerability

Read this blog even though you don’t want to. Especially if you or your parent is over 65 or living alone. Age Associated Financial Vulnerability is a real thing and it affects intelligent, independent people. The Consumer Financial Protection Bureau puts the cost of elder financial exploitation as high as $36 billion a year.

If you are or you know anyone over 65 you know about the exploitation part. Those calls that come many, many times a day and at increasingly unorthodox hours of the day.  Why are older Americans targeted? Because they hold a large percentage of the wealth. Some estimates have the over age 50 population holding as high as 83% of America’s wealth. And as we age, we become more vulnerable. It’s as simple as that.

If you think you are not a likely candidate for fraud, think again. Victims are not who you think they are. They are high functioning seniors and often test as “normal “on cognitive function assessments. It’s complicated. You can check out the report Brains and Losses at marketplace.org. It has to do with changes in our brains as we age. How we process information when we are in emotional states. That includes being angry (at the caller), being scared or just being a nice person. Scammers know how to exploit our emotions.

Bottom line, living alone increases susceptibility because when you are alone you don’t have that close contact to hash over a call or contact you receive. Prevention is the key. If you are living alone, open up to someone you trust. If you have a parent or relative living alone check in on them regularly. Don’t judge. Make yourself available. Ask your parent what they know about scams. Teach your parent how to screen calls.

Being susceptible does not mean an older person needs to go to a nursing home or lose independence. It does mean both the aging and those who love an older person need to be on their toes, maintain close contact, and have open conversations.

Some ideas about setting hard and fast lines of defense will follow in a later blog at this site.

Moving on With Life After the Death of a Loved One

By Lee Uecker • November 5, 2024
Moving on is not the same as forgetting. Moving on after the death of a loved one, especially a spouse, just means actively engaging in life. It means reaching a point where the mourner has things to look forward to again. J. William Worden, PhD tells us the fourth task mourners must accomplish as they move through grief is to “find an enduring connection with the deceased while moving on with life.”

What is a Columbarium Niche?

By Lee Uecker • September 17, 2024
A columbarium niche is a final resting place for ashes after cremation. Niches are above ground and are most often built into a wall. The wall is made up of individual compartments that hold an urn containing the ashes of one individual. Columbarium niches are available at many cemeteries and some churches.

Funeral Word Quiz

By Lee Uecker • September 17, 2024
Find out how much you know about funeral service. Match the definition to the words below. See how well you do.

10 Ways to Customize a Funeral

By Lee Uecker • September 17, 2024
Funerals aren’t one-size-fits-all. One of the most important steps in funeral planning is customization. How is this funeral right for your loved one? How are you celebrating your loved one’s life through everything from the floral arrangements to the clothing they’re wearing? What makes this funeral uniquely your loved one’s funeral? Here are a few ways to customize a funeral for your loved one.

The Changing Face of American Veterans

By Lee Uecker • September 17, 2024
So, who do we thank? We thank all service men and women. We thank the husbands, wives and children of our service men and women. Post 9/11 military service is a family job.

Why Preplanning is a Good Thing for Parents

By Lee Uecker • September 17, 2024
Preplanning your funeral as a parent is giving a final gift to your children. Losing a parent is something that many people will experience in life, but the loss is always difficult. You can make this challenging time easier for your children by allowing them to grieve in peace without the worry of funeral planning.

Memorial Service – Does My Casket or Urn Need to Be Present?

By Lee Uecker • September 17, 2024
A memorial service differs from a traditional funeral service in that it takes place after final disposition. Final disposition is either the cremation or burial of the deceased. So, the answer is no—neither the urn nor the casket need to be present at a memorial service. That said, in the case of a memorial service following cremation the urn may be present if that is the family’s desire.

Five Tips to Help with the Year of Firsts

By Lee Uecker • September 17, 2024
The first year following the death of someone dear—a parent, a child, a sibling, a spouse, or a good friend—is frequently referred to as “the year of firsts.” It will be the first time the holidays, birthdays, and the occasions both sad and happy that were shared and witnessed with the person who has passed will come and go alone, without the loved one. For most people it is a tough year. Still there are things that can be done to make experiencing these milestones easier.

Funeral Service and Veterans Benefits

By Lee Uecker • September 13, 2024
The Federal Government provides a death benefit for honorable discharged veterans. The dollar amount varies based on where the death occurs (VA hospital) and if the death was service-related. In most cases the benefit is modest and will not cover the entire cost of a funeral, burial, or cremation. Your local funeral home is an excellent resource to help veterans and their families understand the benefit that is available.

How to Get the Funeral You Want

September 1, 2024
Some events only happen once in a lifetime. Graduations, weddings, and funerals are a few of these one-time occasions. That means the way the event is marked makes a lasting impression. If the cake at the wedding was supposed to be chocolate and it was not it does not ruin the marriage or even the day, but it can mar the occasion and it is usually the thing that is remembered. It was not right and it is never forgotten.
More Posts
Share by: