Senior Investment Fraud, Financial Decisions, and the Aging Brain
| November 18, 2019
Aging Brains Call for Extra Investment Caution
Although there has been much research into how the brain ages, we still don’t fully understand it. However, research suggests that, as we age, most of us naturally begin to lose some cognitive function. This can make it more difficult to:
- Learn new things
- Remember people, places, and events
- Perform complex tasks
- Recognize deception
- Handle financial decisions
These types of symptoms only worsen in cases of Alzheimer’s disease and other types of dementia, and evidence of poor judgment and poor problem solving are often the very first signs of a problem. Unfortunately, because cognitive decline is so prevalent, many fraudsters choose to prey upon elderly investors. As a financial fraud attorney who has seen many cases of senior investment fraud, I urge you to talk openly to your elderly loved ones about fraud.
Senior Investors May Be More Vulnerable to Investment Fraud
Unfortunately, difficulty in making financial decisions coupled with an impaired ability to recognize deception can make seniors a natural target for investment fraud. Fraudsters also know that seniors often have access to a sizable “nest egg” and are anxious about having enough money to see them through after retirement. If you are concerned about an elderly loved one’s ability to make appropriate financial decisions, it’s important that you take action. Talk openly and gently with your loved one and consider scheduling a doctor’s appointment for additional evaluation.
Anyone can become the victim of investment fraud, and you shouldn’t let embarrassment keep you from seeking help and recovering your investment losses. If you need help after losing money to investment fraud, please reach out to an experienced financial fraud attorney today.