Survey Helps Older Adults Assess Their Vulnerability to Scams

A national study shows that certain factors can help identify older Americans who are at highest risk of falling victim to financial scams, according to the Marketplace Morning Report . Physical and mental health, and the health of relationships, are key predictors of older persons' self-reported feelings of personal financial vulnerability. "We're seeing a lot of relationship strain as people get older due to finances," said Wayne State University's Peter Lichtenberg. "And also just their psychological vulnerability around finances: anxiety, depression, memory problems." Separate research determined that a financial exploitation survey evaluating one's financial decision-making can help indicate how susceptible one might be to various scams. The poll formulated from these findings is freely available on Lichtenberg's website. The site offers helpful resources in addition to the survey, as well as one-on-one coaching to help them remedy their financial problems.