Friday, January 30, 2015

Help Fight/Prevent Elder Financial Abuse

Elder Financial Abuse Continues to Grow

I am always dismayed to see the statistics that show how fast elder financial abuse is growing. It pains me to read how our elders have been abused.  I have a very difficult time understanding how someone can abuse another person, especially our elders.  I was taught to respect my elders - not abuse them.

But, the fact remains that elder abuse, especially elder financial abuse, is on the rise at a rapid pace.  It is therefore critical that each of us pay close attention to our elders and try to identify - and then report - any kind of elder abuse.

How Can You Help? 

There are many, many websites, help phone lines and agencies that have been set-up to address elder financial abuse.

The North American Securities Administrators Association has published a website called Serve Our Seniors that provides lots of resources where seniors can get help, including a hot line.

FINRA, which regulates the securities industry, has also set-up a Senior Help Line.  Seniors can call the help line at (844) 574-3577 for assistance, information and/or to discuss any securities issue where they have been harmed (or perceived to have been harmed).  This help line has been credited with saving seniors retirement funds and in a few cases actually saving their lives.

You can also Google elder financial abuse and find many other ways to assist elders that are going through any kind of abuse.