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The lessons is not to "be wary of scammers" or "hack your phone"... That's totally missing the crux of the scam. The lesson is that, as you approach old age, a

The lessons is not to "be wary of scammers" or "hack your phone"... That's totally missing the crux of the scam. The lesson is that, as you approach old age, and if at all possible, you should give a trusted relative or close friend a durable power of attorney over your finances. In addition, (or as a second best), put your money in an irrevocable living trust assigning yourself as a beneficiary, and laying out strict rules for retrieving money.

URSpider94 11y ago
The problem is that many senior citizens, especially men, will fight tooth and nail against this. They have a self-image problem. They can not see themselves as frail and vulnerable. I lived through this with first my grandfather, then my grandmother.
- TeMPOraL 11y ago
  Indeed. And it's absolutely understandable. Our seniors have been productive members of society for long decades, and as they reach their old age they suddenly find themselves not needed by anyone - the society doesn't want their services, their sons and daughters have already started their families and have little time for parents. No surprise they'll fight tooth and nail to keep the last bits that make them feel human - holding responsibility for their own actions, managing their own resources.
- murbard2 11y ago
  Sadly yes. That's why I'm not suggesting you ask your older relatives to do it. If you have to ask, it's too late. My point is that you should prepare yourself mentally for doing it later in life and be cool with it.
- plonh 11y ago
  That's why it is important to set up these plans for yourself before you get old and proud, when you know what lies eventually ahead. And to spend lifetime developing the tristworthy relationships you will need later. Or go on physically dangerous adventures in your old age, like skydiving. Or donate your funds away before you get senile, and rely on charity and public assistance
wvenable 11y ago
Unfortunately, a lot of elderly are just as likely to be scammed by a trusted relative or close friend.

URSpider94 11y ago

The problem is that many senior citizens, especially men, will fight tooth and nail against this. They have a self-image problem. They can not see themselves as frail and vulnerable. I lived through this with first my grandfather, then my grandmother.

TeMPOraL 11y ago
Indeed. And it's absolutely understandable. Our seniors have been productive members of society for long decades, and as they reach their old age they suddenly find themselves not needed by anyone - the society doesn't want their services, their sons and daughters have already started their families and have little time for parents. No surprise they'll fight tooth and nail to keep the last bits that make them feel human - holding responsibility for their own actions, managing their own resources.
murbard2 11y ago
Sadly yes. That's why I'm not suggesting you ask your older relatives to do it. If you have to ask, it's too late. My point is that you should prepare yourself mentally for doing it later in life and be cool with it.
plonh 11y ago
That's why it is important to set up these plans for yourself before you get old and proud, when you know what lies eventually ahead. And to spend lifetime developing the tristworthy relationships you will need later. Or go on physically dangerous adventures in your old age, like skydiving. Or donate your funds away before you get senile, and rely on charity and public assistance

wvenable 11y ago

Unfortunately, a lot of elderly are just as likely to be scammed by a trusted relative or close friend.