Boomers Parents Scammed

The parents of the baby boomers are now well into retirement. They have done their best financially coming out of a great depression followed by longest time of growth in North American history.

Life has taught them to spend carefully and how important it is to save for the future.  Now is a time to enjoy the fruits of their labour.

But now their good financial choices have made them targets of swindlers and con artists. Check out these two videos that illustrate the need for baby boomers to play a bigger role the financial lives of your parents.

CBC - In one case a caller pretends to be a relative on the phone asking for money. By the time the senior realizes the person is not a family member she lost 10,000. RBC, the bank she deals with did not see the signs and will not forgive the debt.

ABC news (very loud compared to the video above) - Elder fraud is a growing more in the US almost 2.6 billion being stolen last year!

Now is the time to start talking about the finances with your life of parents.  If not some one else might!

Oh by the way if you are interested in learn some strategies you can use as your parents age make sure to attend one of the up coming "Boomers and Parents - Facing the Future Together Seminars.  

Financial Blog of Mike Hassard | Life Insurance Debt Investing Mutual Funds |

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