Mention the topic of financial scams against seniors, and most people will think of a telemarketing fraud or a Ponzi scheme. But more often than not, the scammer is a member of the senior’s own family. “We spend a lot of time warning seniors they will get scammed if they answer email or pick up [...] [...more]
A growing body of research suggests that our ability to make sound financial decisions declines sharply with age. Roughly half of adults in their 80s suffer from dementia or cognitive decline that impacts financial management skills, according to David Laibson, an economics professor at Harvard University and co-author of a research report with three other [...] [...more]
Con artists are swindling unsuspecting consumers into buying bogus health insurance products promoted as being related to the new health care law, according to The New York Times. Insurance regulators in Illinois, Kansas and Alabama report telemarketing scams offering fake products such as Obamacare insurance or “government health care reform insurance.” Many of the scams [...] [...more]
