“Scams target people of all ages, but the most vulnerable tend to be older adults—and the money they lose can have a big impact on their retirement.”
The National Council on Aging reports that seniors lose an estimated $3 billion to financial scams, which is the worst possible time in life to lose money. There’s simply no time to replace the money. Why scammers target the elderly is easy to understand, as reported in the article “Scam Alert: 4 Types of Fraud That Target the Elderly (and How to Beat Them)” from Kiplinger. People who are 50 years and older hold 83% of the wealth in America, and households headed by people 70 years and up have the highest median net worth. That is where the money is.
via blog.graberjohnson.com
Dear Rita, and probably more scamming is going on for two reasons. Number one: we live in post-Christian times; take the Lord out of the picture, then any sort of bad stuff is going to happen. Number 2 (which is directly related to Number 1) our age group is very much resented (by angry, covetous people) because us older people hold most the wealth – never mind that we oldies were brought up in a still reasonably Christian society, which valued work and saving (instead of blowing it on junk).