{"id":1114550,"date":"2019-05-06T16:34:20","date_gmt":"2019-05-06T16:34:20","guid":{"rendered":"https:\/\/dailyreckoning.com\/?p=107330"},"modified":"2019-05-06T16:34:20","modified_gmt":"2019-05-06T16:34:20","slug":"protect-your-elders-from-being-a-target-of-this","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1114550","title":{"rendered":"Protect Your Elders from Being a Target of THIS"},"content":{"rendered":"

This post Protect Your Elders from Being a Target of THIS<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

As we age we eventually reach our Golden Years. It\u2019s a point where we expect to do things we couldn\u2019t do earlier in life due to factors such as family, work, or financial obligations. <\/span><\/p>\n

It\u2019s a time when we hope to continue growing as individuals by pursuing personal interests, hobbies, or even second careers, as our health permits. <\/span><\/p>\n

If nothing else, old age should be a time that is worry-free, peaceful, and stable, where independence is retained as long as possible.<\/span><\/p>\n

Unfortunately that\u2019s not how it works out for many\u2026 <\/span><\/p>\n

Seniors: Prime Targets<\/b><\/span><\/h2>\n

Some 5.8 million older adults lose more than $37 BILLION each year to financial fraud. <\/span>That number is expected to soar as baby boomers retire and their ability to manage trillions of dollars in assets declines.<\/span><\/p>\n

Victims can be left without money to pay for medications, food, and long-term care. Many get evicted. And they don\u2019t even know what\u2019s happening until they\u2019re left homeless.<\/span><\/p>\n

Someone else has to pay, which usually means family members or taxpayers. <\/span><\/p>\n

And the psychological and social costs can exceed the financial ones. Scammers convince victims to keep the promised profits a secret. So they don\u2019t tell anyone\u2026 not even close family members.<\/span><\/p>\n

Once they realize they\u2019ve been betrayed, they\u2019re emotionally devastated. And they\u2019re less likely to report fraud because they are embarrassed about being targeted. When a family member is the perpetrator, victims don\u2019t act because they don\u2019t want their dirty laundry out there.<\/span><\/p>\n

Also, e<\/span>lderly victims might not report crimes because they\u2019re concerned that relatives may think they no longer have the mental capacity to take care of their own financial affairs.<\/span><\/p>\n

In fact, a study by New York State\u2019s Office of Children and Family Services estimates that for every case reported to authorities, as many as 44 are not. <\/span><\/p>\n

And it\u2019s not only Nigerian princes who scam the elderly. Research revealed that almost 60% of cases of elder exploitation were committed by a family member. <\/b><\/span><\/p>\n

A small sampling of how telephone pitchers, online scammers, and even people they know and trust steal from the elderly in what may appear as giving consent\u2026<\/span><\/p>\n