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June 01, 2018  
 Here's a situation where awareness could help you
(or your parents) now 
      
 
I'm talking about elder abuse. And if you think you're too young to be affected by it, think again. It affects you just like any kind of abuse that's inflicted upon any member of your family or circle of friends.  
 
I know this is heavy for a Friday email blast, but please continue reading. This is about creating awareness so we could all fight the good fight. That's something we should all feel good about! So, give me a minute and you'll be armed with the resources you need to protect both yourself and your loved ones. 
 
The statistics are heartbreaking:
 
1. 1 in 10 Americans aged 60+ have experienced some form of elder abuse.
2. The abusers are gender neutral.
3. 60% of the abusers are adult family members.
 
It's a 2018 regulatory and examination priority of FINRA, the regulatory body that oversees the securities industry. From FINRA's website:  
 
FINRA's action comes at a time when each day for the next 12 years, an average of 10,000 Americans will turn 65. Con artists tend to target older people, in part, because they are more likely to have built up nest eggs, according to the FBI. And, the U.S. Department of Justice estimates that $3 billion is stolen or defrauded from millions of elderly Americans every year.  
 
Financial advisors now receive training to learn the signs to watch out for. Compliance teams are using technology to uncover signs of it.
But as the U.S. population ages, cognitive disease is on the rise. Add money to the mix and the incidents of elder abuse are expected to continue to skyrocket.  
   
Ultimately, it's up to all of us to be aware of this so we may recognize and confront it if we see it. Fortunately, the NIH has a site dedicated to this subject; the signs to look out for, the phone numbers to call, and the various types of elder abuse that exist.

Older man looking sadly out a window

There are many types of abuse:
  • Physical abuse happens when someone causes bodily harm by hitting, pushing, or slapping.
  • Emotional abuse, sometimes called psychological abuse, can include a caregiver saying hurtful words, yelling, threatening, or repeatedly ignoring the older person. Keeping that person from seeing close friends and relatives is another form of emotional abuse.
  • Neglect occurs when the caregiver does not try to respond to the older person's needs.
  • Abandonment is leaving a senior alone without planning for his or her care.
  • Sexual abuse involves a caregiver forcing an older adult to watch or be part of sexual acts.
The signs of abuse:
  • Has trouble sleeping
  • Seems depressed or confused
  • Loses weight for no reason
  • Displays signs of trauma, like rocking back and forth
  • Acts agitated or violent
  • Becomes withdrawn
  • Stops taking part in activities he or she enjoys 
  • Has unexplained bruises, burns, or scars
  • Looks messy, with unwashed hair or dirty clothes
  • Develops bed sores or other preventable conditions

For More Information About Elder Abuse and Where to Get Help

Eldercare Locator
1-800-677-1116 (toll-free)
 
National Center on Elder Abuse
1-855-500-3537 (toll-free)
ncea-info@aoa.hhs.gov
https://ncea.acl.gov  
 
National Adult Protective Services Association
1-217-523-4431
www.napsa-now.org  
 
National Domestic Violence Hotline
1-800-799-7233 (toll-free, 24/7)
1-800-787-3224 (TTY/toll-free)
 
U.S. Department of Justice
1-202-514-2000
1-800-877-8339 (TTY/toll-free)
elder.justice@usdoj.gov
www.justice.gov/elderjustice 
 
Here's the NIH website for more information: https://www.nia.nih.gov/health/elder-abuse  
 
Elder abuse can affect us all. I know if we band together and arm ourselves with these resources, we could help protect our seniors. 
   
Thank you for taking the time to read this!  
Mitch
 
 
I opened ClientFirst Strategy, Inc. because I believe that the only way to help my clients potentially achieve their goals is by offering unbiased advice & investment management expertise. To my clients, thank you for your continued vote of confidence. If you are not a client but would like to explore the possibility of becoming one, I invite you to call me directly, visit my website, join my email list, and/or connect with me on social media.
  
 
          
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Your thoughts are valuable! Email me to let me know what you think of this. I'll reply!
MGoldberg@ClientFirstStrategy.com

   
All the views expressed in this report/commentary accurately reflect our personal views about any and all of the subject securities or issuers and no part of our compensation was, is, or will be, directly or indirectly related to the specific recommendations or views we have expressed in this report. This material is not intended as an offer or solicitation for the purchase of sale of any security or other financial instrument. Securities, financial instruments, or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. Prices, values, or income from securities or investments mentioned in this report may fall against your interests, and you may get back less than the amount you invested. The information contained in this report does not constitute advice on the tax consequences of making any particular investment decision. You should consult with your tax adviser regarding your specific situation. Diversification is a method of managing risk and doesn't protect against loss in a down market. 
  
  

Mitchell O. Goldberg, AAMS, President | Investment Professional

OSJ Manager 

 

ClientFirst Strategy, Inc.

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