Elder abuse – it’s a topic often avoided because the reality of it is difficult to face. However, it’s a vital conversation and brings forward the importance of combating mistreatment through education and advocacy. Unfortunately, the elderly population is more susceptible to being taken advantage of due to physical and mental decline, and believe it or not, 1 in 10 Americans over the age of 60 will experience some form of elder abuse. It can come in various forms, from neglect and psychological abuse to physical and financial abuse. To make matters worse, only 1 in 44 cases of elder abuse are reported, according to The National Adult Protective Services Association.
If you’re like us and you find yourself wondering how such a serious issue among so many older adults can be allowed to go unreported and unresolved, then you’re in the right place.
Awareness is the first step to preventing elder abuse, and that’s why, in this episode of A Place of Possibility, we’re facing the complex realities of elder abuse head-on. After all, it’s easier to have a difficult conversation than it is to live with abuse.
Together, we’ll be talking about:
- The different types of elder abuse and what they look like
- Recognizable signs of elder abuse that may be impacting loved ones, whether at home or in a facility
- The best ways to protect yourself or a family member from abuse
- What to do if you suspect elder abuse
- What the legal ramifications are for elder abuse
During the discussion, Richard also shares a personal story about how financial elder abuse touched his family, specifically his father, who was 80 at the time:
“My father was a victim of financial abuse. He had a line of credit with a checkbook that he had never used sitting in one of his drawers, and unfortunately, his girlfriend, who was living with him, started writing checks and signing his name, but the money was going to her. Over two years, she stole about $80,000. We had no idea, and she was hiding the statements from him. Once I got wind of this, I called the authorities and tried to talk to him, but he didn’t want to take action because he was afraid of losing her companionship. We did eventually get the money back after she passed away.”
At Del Monte Group, we want to help you protect your wealth and health. All older adults deserve to age with dignity and respect, so we hope this episode will provide more insights and help you take action.
P.S. Looking to meet with Richard or Angela at our office in Alamo, CA? Want to discuss more of what you heard in this episode? Wondering where the heck you need to get started or what all of this means for your retirement plans? Schedule a free 30-minute session and find the peace of mind you deserve for the rest of your life. You can also reach us by calling 925.736.6410 or sending an email to Info@APlaceOfPossibility.com.
“How do you protect your physical self? Number one, take care of your health. There are diseases and cognitive declines that you can’t prevent, but you can control your diet, exercise, and the ability to seek professional help if you’re struggling with drugs, alcohol, or depression.”
We’re proud to present you with our “Know Your Possibilities Guide,” a tool and free resource for you to take notes, review, keep on hand, or even share with your friends and family. So grab your copy, click the play button, and follow along. You’re just minutes away from discovering your next Place of Possibility.
A Glance at this Episode:
1:11 Before we dive into today’s topic, we’re giving a quick market update. If you are a wise investor who stayed the course, like many of our clients, you were rewarded with a 5% increase in your portfolio.
2:55 Today, we’re talking about elder abuse, and while it may be challenging to discuss, it’s an important topic to be aware of.
4:31 There are seven different types of elder abuse, which include neglect, physical abuse, and sexual abuse.
5:15 Sexual abuse is a more common occurrence for elders than you may think. In fact, there are big lawsuits over this happening right now for abuse that took place in a doctor’s office!
6:00 The other types of elder abuse are abandonment, emotional or psychological abuse, financial abuse, and self-neglect. Listen in as we take a closer look and define what these types of abuse entail.
8:05 1 in 10 Americans over the age of 60 will experience at least one form of abuse. It’s usually committed by a family member or trusted care professional!
8:27 Did you know that psychological abuse is the most common? How about the fact that financial abuse is the most reported?
9:08 We address one of the most pressing questions – why and how does elder abuse happen in the first place?
11:05 Knowing the signs of elder abuse can help you put a stop to it. Signs of physical elder abuse include unexplained physical injuries, unkempt hygiene, malnourishment or dehydration, and more.
12:08 Psychological and emotional abuse is more challenging to recognize. Be on the lookout for increased fear and anxiety, isolation, changes in sleep patterns, disinterest in activities, and more.
13:14 If you’ve noticed unexplained bank withdrawals, pre-signed blank checks, or lots of unpaid bills, you have a right to suspect financial elder abuse. We have a few real-life stories where these happened, so listen in.
18:33 In this portion, we’re talking all about scams. Please tune in to learn about the most common ones and how to protect yourself and your loved ones.
21:43 Do you know what your rights are? There are many organizations out there that help protect seniors. And, since COVID, rights have even expanded to include visits from family and friends. Here’s what you need to know.
22:40 What should you do if you suspect elder abuse? Ombudsmen are a great resource. See our links below under “Resources Mentioned” to find your local ombudsman and listen in for more.
23:34 There are steps you can take to prevent elder abuse from happening. Here, we discuss what you can do to protect yourself physically.
25:58 The first step in protecting your wealth during your senior years is planning your future. Here’s why.
27:45 Tune in here as we discuss other steps to prevent financial abuse, such as shredding old documents and switching to online statements.
29:15 Watch out for scams and stay up-to-date on technology, as scammers have become more creative. You may have even experienced some of the common scams we discuss here.
33:14 Curious about what the legal ramifications for elder abuse are? Generally, there is a fine and potential jail time, depending on the severity of the crime.
34:50 If you’re not in a facility and suspect elder abuse in the home, the practice is to report it to your county’s Adult Protective Services.
35:14 Thanks for sticking with us! While elder abuse is a complicated topic, being informed can go a long way in preventing it.
Rate, Review, and Follow Us!
“I LOVE Richard, Angela, and A Place of Possibility™ Podcast!” Sounds like you? Then, we hope you will consider rating and reviewing the show. Your support will help us expand possibilities and opportunities to more individuals and families out there like you who want to keep, grow, and enjoy their wealth. So, follow this link, scroll down, and then click to select five stars and write a review. This show is all about YOU, so tell us what you love and want to hear more of!
Haven’t subscribed to the podcast yet? What are you waiting for? Your financial wellness depends on it! Okay, that might be a little dramatic, but we don’t want you to miss a minute of our insights or all of the freebies coming your way. Subscribe Now!
Links/Resources Mentioned in this Episode:
- Watch the I Care a Lot movie trailer: https://youtu.be/D40uHmTSPew?si=BzoalenK98ac5fu3
- Find an Ombudsman program in your area: https://theconsumervoice.org/get_help
- Compare Elder Law Attorneys in Alamo, CA: https://www.justia.com/lawyers/elder-law/california/alamo
- Contact information for Adult Protective Services (APS) in California by County: https://www.cdss.ca.gov/Portals/9/APS/County_APD_Contacts.pdf
- Learn more about APS: https://www.cdss.ca.gov/inforesources/adult-protective-services
- California Department of Public Health Center for Healthcare Quality: https://www.cdph.ca.gov/Programs/CHCQ/Pages/CHCQHome.aspx.
- Keep up with Senior Events at the Pleasant Hill Rec: https://pleasanthillrec.com/350/Senior-Special-Events
- Join Meetup to find groups near you: https://www.meetup.com/
- Get involved with Lamorinda Village to take part in a variety of fun activities: https://lamorindavillage.org/events/
- Ensure your family’s wealth will live on for generations to come. Order your copy of Endless Inheritance by Richard Del Monte today! https://aplaceofpossibility.com/endlessinheritance
- Ready to become a better investor? We’ve got the strategies you need. Download a FREE copy of our e-book, “Evidence-Based Investment Insights.” https://aplaceofpossibiltiy.com/evidencebasedinsights
- Del Monte Group offers a variety of free resources to help you make innovative and educated financial decisions so that you can keep, grow, and enjoy your wealth starting now. Find them by visiting https://aplaceofpossibility.com/resources.
“One-size-fits-all” won’t fit you here! The Del Monte Group team understands that everyone’s financial goals are unique. That’s why we always provide customized advice. No matter where you are in life, you can depend on our proven expertise to provide financial planning support for long-term success. Ready to get started? Schedule a meeting with Richard or Angela in our Alamo, CA-based office today, or we can meet via Zoom! >> You can select a date and time that works for you via our calendar, call us at 925.736.6410, or send an email to Info@APlaceOfPossibility.com. We can’t wait to help you!
IMPORTANT DISCLOSURE INFORMATION
Past performance is no guarantee of future results. Different types of investments involve varying degrees of risk. Therefore, there can be no assurance that the future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Del Monte Group, LLC [“Del Monte”]), or any consulting services, will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Del Monte is engaged, or continues to be engaged, to provide investment advisory services. Del Monte is neither a law firm, nor a certified public accounting firm, and no portion of its services should be construed as legal or accounting advice. Moreover, you should not assume that any discussion or information contained in this document serves as the receipt of, or as a substitute for, personalized investment advice from Del Monte. A copy of our current written disclosure Brochure discussing our advisory services and fees is available upon request or at www.delmontegroup.com. The scope of the services to be provided depends upon the needs and requests of the client and the terms of the engagement. Please Remember: If you are a Del Monte client, please contact Del Monte, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently.
Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results. It should not be assumed that your account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your accounts; and, (3) a description of each comparative benchmark/index is available upon request.
*Please Note: Ranking Limitations. Neither rankings nor recognitions by unaffiliated rating services, publications, media, or other organizations, nor the achievement of any professional designation, certification, degree, or license, membership in any professional organization, or any amount of prior experience or success, should be construed by a client or prospective client as a guarantee that the client will experience a certain level of results if the investment professional or the investment professional’s firm is engaged, or continues to be engaged, to provide investment advisory services. A fee was not paid by either the investment professional or the investment professional’s firm to receive the ranking. The ranking is based upon specific criteria and methodology (see ranking criteria/methodology). No ranking or recognition should be construed as an endorsement by any past or current client of the investment professional or the investment professional’s firm. ANY QUESTIONS: Del Monte’s Chief Compliance Officer remains available to address any questions regarding rankings and/or recognitions, including the criteria used for any reflected ranking.