Age-Associated Financial Vulnerability

Mark Roberts • April 3, 2024

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.

www.randallroberts.com

< Older Post Newer Post >

Cremation After the Funeral Service

By Mark Roberts • February 5, 2025

Cremation rates have been on the rise in the United States for many years, and it’s becoming more and more common for funeral homes to be holding funerals for loved ones who will be cremated. But how does funeral planning work when your loved one will be cremated?

What is an Ossuary?

By Mark Roberts • February 5, 2025

Today’s ossuaries are very different in that they do not require exhumation and reburial of bones. Ossuaries today consist of an above ground tomb/marker and an underground vault. Cremated remains, usually contained in a soft material bag inscribed with the name, birth date, and death date of the deceased are dropped into the vault where they rest in community with others.

What is a Columbarium Niche?

By Mark Roberts • January 6, 2025

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 Mark Roberts • January 6, 2025

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 Mark Roberts • January 6, 2025

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.

Flowers and Funerals

By Mark Roberts • January 6, 2025

What’s the story behind flowers at a funeral? Well, back in the day before funeral directors perfected the art and science of embalming, flowers were used to mask the odor of the body.

Cremation Society or Funeral Home

By Mark Roberts • November 26, 2024

Cremation, like electric cars and cell phones is here to stay. For some people cremation is part of their religious practice. For other people, cremation just feels right for them. The big question is who should help you with your cremation, a society or a funeral director?

What To Expect with Cremation?

By Mark Roberts • November 26, 2024

Cremation has been around for thousands of years. It is required by some faiths and forbidden by others. Governments, charged with protection of the public health and aesthetic of the community, have laws governing both cremation and burial practices. One way to view burial and cremation is to look at each as a means to the same end. Dust to dust.

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

By Mark Roberts • April 5, 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 Mark Roberts • April 5, 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.