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March 23, 2009
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BY JULIE DAVIS
Elder financial abuse now costs our seniors an estimated at $2.6 billion every year.
This is one financial hit that has nothing to do with falling 401K accounts. “Broken Trust: Elders, Family and Finances,” a study on elder financial abuse prevention by the MetLife Mature Market Institute, the National Committee for the Prevention of Elder Abuse, and the Center for Gerontology at Virginia Polytechnic Institute and State University, is a sobering view of “the unauthorized use or illegal taking of funds or property of people aged 60 and older.”
Among its most frightening conclusions is the wide range of possible perpetrators specifically targeting the elderly. Newspapers are filled with stories about the young drug addict who steals money from grandma to pay for the habit or the home health aid who gains access to a bank account. But that’s just the beginning. This report, which reviewed extensive files to reach its findings, opens with the shocking account of a 70-year-old criminal who set out to swindle an older couple. There are a number of clear reasons why financial crimes against the elderly are mounting:
The full report is indispensible reading for everyone caring for an elderly loved one, no matter how secure you think their finances are. It includes gripping news stories, details on likely perpetrators and, most importantly, leading signs of elder financial abuse to help you spot the problem and perhaps prevent it. Access the pdf version at: http://www.metlife.com/assets/cao/mmi/publications/studies/mmi-studies-broken-trust.pdf |
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A real or perceived loss of family and friends can have severe physical and mental consequences.
Many caregivers of elderly parents have likened their role to that of a parent looking out for the welfare of a child. While most attention is often paid to seniors’ health and making sure their medical needs are properly attended to, a new study supports the widely held belief that helping elders maintain even a small group of friends and stay involved in activities they enjoy—quality of life issues—factors into their overall condition. Orchestrating the senior version of play dates for them might sound funny, but could be vital to their well-being.
University of Chicago research examining the results of the National Social Life, Health and Aging Project, a study of 3,000 people ages 57 to 85 supported by the National Institute on Aging, found that not having many close friends contributes to poorer health for many older adults, and those who also feel lonely face even greater health risks. "For some older adults, a shrinking circle of friends and family can lead to feelings of loneliness or isolation. Our findings suggest that those who adapt to losses so that they don't feel isolated fare better with respect to both physical and mental health," explained lead author Dr. Erin York Cornwell, a Postdoctoral Associate in Sociology at Cornell University explained. Researchers measured the degree to which older adults are socially connected and socially active. They also assessed whether older adults feel lonely and whether they expect that friends and family would help them in times of need. Key findings of the study include:
"We need to better understand how older adults adapt to changes in their social relationships," Waite added.
The article, "Social Disconnectedness, Perceived Isolation and Health Among Older Adults," appears in the March issue of the Journal of Health and Social Behavior, a quarterly journal of the American Sociological Association. |
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A small trial in the United Kingdom shows promising results for GPS devices worn by dementia patients.
According to an article in the UK’s Telegraph, personal GPS devices do work as one measure to locate dementia patients unable to find their way home. Twenty patients are participating in the country’s first-ever trial, led by Dr. Rupert McShane, an expert in senior psychiatry, to see how effective pocket-sized devices are. Dr. McShane was quoted on BBC Radio as saying, "About 30 percent of people with dementia get lost at some point, and about 25 percent of them are locked into their houses by worried relatives. With the development of GPS technology, we think people with dementia might have more freedom to go out and they might be safer if they do go out, if it's possible to know where they are if they get lost." |
Respect Requested
In a country known to revere its elders, a sharp reprimand to the way its most senior seniors are described.
When faced with caregiving issues and stresses, it is often hard to maintain a balance between the respect needed by elder loved ones and the desire to efficiently operate to meet their many needs. The American culture has been criticized for marginalizing senior citizens and not valuing the wisdom they can offer, for instance—criticisms not usually leveled at Eastern cultures where the elderly are often revered. So it’s interesting to take note of the article in Japan’s Yomiuri Shimbun that a specialist advisory panel of that country’s Health, Labor and Welfare Ministry, in a report on the health care system for people 75 and older, recommended that the government should immediately stop referring to them as being "in the late stage of old age" because it is a slight to their dignity.
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ELDER CARE NEWS: BEST OF THE WEEK
A round-up of articles and studies impacting the lives of seniors
"Mechanism of Alzheimer's Suggests Combination Therapy Needed," (American Association for the Advancement of Science, March 17, 2009). "Cochlear Implant Surgery Safe For Seniors," (Reuters Health, March 17, 2009). "Obesity Reduces Survival By At Least 2 Years," (Reuters Health, March 18, 2009). "Napping Sometimes Not Good In Elderly Women,"(Reuters Health, March 18, 2009). "Time to care as boomers age," by Dennis Yusko (Albany Times Union, March 19, 2009). Ticking of body's 24-hour clock turns gears of metabolism and aging," (American Association for the Advancement of Science, March 19, 2009). Bypass may be better for older diabetics," (Reuters Health, March 20, 2009). |
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