Tag: cognitive health
As older Americans approach the end of their lives, many have to make major financial decisions, including estate planning and long-term care arrangements. Unfortunately, with age comes the risk of cognitive decline, which may affect the quality of such decisions as well as making people easier targets for financial scams. One way to help individuals…
Abstract Financial fraud is a major threat to older Americans, and this problem is expected to grow as the baby boom generation retires and more retirees manage their own retirement accounts. We use a unique dataset to examine the causes and consequences of financial fraud among older Americans. First, we find that decreasing cognition is…
