I was reading today’s AARP bulletin and in the article “Fraud Protection: Avoid the Next Madoff” it quoted Don Blandin, CEO of the Investor Protection Trust saying “We have witnessed a growing number of older Americans fall victim to financial swindles.” His group was also quoted to say that “millions are in danger of being exploited, and one in five people over the age of 65 already have been exploited.” These types of articles make you take note for yourselves as well as for your aging parents. Educate yourself of possible warning signals as well as seek advice from a third party.
If you would like advice from the experts, on November 10, the Investor Protection Trust is co-sponsoring a one-day hotline for older people. It is coming up on Thursday November 10th, from 9 a.m. to 6 p.m. ET. Experts from a coalition of state securities regulators, financial planners, medical doctors and adult protective services professionals dealing with older Americans will answer questions and offer free advice on three toll-free lines: general finance (1-888-227-1776), medical (1-888-303-0430) and financial abuse (1-888-303-3297).