Protect Yourself from Elder Scams

As the population continues to age, the vast majority of disposable income is now available to people over fifty. People over fifty represent about 25% of the population, but control nearly 75% of the disposable income in the US. This alone paints them as a target. On top of that elderly people are seen by scammers as having certain traits that make them even more attractive as victims. They are perceived as being more feeble, confused, more trusting, less aware of their consumer rights while less likely to ask questions or admit to being deceived. They are seen as the perfect victim.

There are several things that can be done to help combat scammers. Family members need to speak with their parents about these scams. They need to stay up to date about the most common scams, and learn the indicators that are common to scammers.

There are certain altruisms that can be talked about as well, especially in relation to email and internet scams.

There are several common sense actions that can be taken now to prevent scams in the future. Talking to others about these scams, and making the elders aware of how common they are will help build up defensive instincts.

Learn and talk about them now to prevent them happening later.


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