How to Prevent Aging Parents and Relatives From Making Financial Mistakes
The New York Times • • business
Key Points:
- Jilenne Gunther was inspired to protect elders from financial fraud after her uncle discovered a trusted home care worker stealing money from their 91-year-old grandfather using a dye pack.
- Gunther is now the director of the BankSafe Initiative at AARP, focusing on safeguarding older Americans who control $53 trillion in wealth and are prime targets for scams.
- Adult children often first notice signs of financial exploitation, but family dynamics can complicate efforts to intervene and change elders' behavior.
- Experts emphasize the need for empathy, due diligence, and sometimes outside help to effectively address financial abuse among seniors.
- Beyond financial loss, exploitation can lead to serious emotional and health consequences for elders, including anxiety, depression, heart attacks,
