With shopping season coming soon, cybercrimes and digital scams are on the rise. Their target? Seniors. However, there are a number of precautions that you can take to help your elderly family members stay safe from unknowingly losing money to a scammer.
One innovative solution to this growing crisis was recently brought to life by former banker and the current Executive Director of Christian Care Retirement Community, Preston D. Kaehr, MBA, HFA.
“From my experience as a banker, we were always looking to help seniors who might be taking out money for suspicious causes. When I kept seeing it happen in my current position at Christian Care Retirement Community, I decided we must do something about it, so we created Senior MoneyLife.” Kaehr continued, “Our focus is keeping seniors safe every day from a financial perspective. Seniors are too often targeted by fraud, scams or abuse and we’re here to help prevent that.”
Clients of Senior MoneyLife are welcomed with a free initial consultation so an expert can evaluate the situation and help guide the senior or family of the senior through the options they provide so they can choose what might be the best path. The variety of services that Senior MoneyLife provides includes Banking & Notary Services, Bill-Pay Assistance, Budgeting Services, Mail Sorting, Insurance/ Patient Advocacy, as well as Files Organizing & Archiving. Additional assistance can be provided on a per-project basis as well.
“Further than online and phone scammers, our organization works to protect seniors from the number one threat to their financial security, the people around them.” According to Kaehr, “90% of fraud is from a family member or close friend. It starts with a few dollars from the senior’s account and slowly they deplete the account as they regularly help themselves to it.”
As adult children of seniors struggle to take care of their own growing families and help with their aging parents’ financial needs such as sorting mail, paying bills, and even keeping their loved one safe from financial scams – Senior MoneyLife is designed to step in and help protect seniors. Senior MoneyLife can help relieve stress, save time, and eliminate burdensome tasks from a senior or their family. They do not take possession of money in any way, but instead utilize a Financial Power of Attorney instrument to provide legal authority to act on the senior’s behalf. This is revocable at any time by clients or their representatives. Their services are month to month which gives total flexibility and control to clients.
The effects of age and mental decline, especially when it comes to personal finances can impact the ability to properly manage money, pay bills and understand senior care insurances (long-term care and Medicare), which can be a huge burden for seniors or their family. If having some extra protection against financial fraud, abuse or scams is something that can help you or your family member, please call 260-296-0437 or visit www.seniormoneylife.com for more details.
This message is sponsored by Senior MoneyLife, which is a division of Christian Care Retirement Community. Christian Care is not a financial institution or trust company. For over 30 years, Christian Care Retirement Community has been providing high-quality, Christ-centered care for senior adults in northeast Indiana. Services at the Bluffton, IN campus include independent living duplexes/apartments, assisted living services, and 24-hour skilled nursing and rehabilitation care.