In the last of our sponsored Ethics articles (accredited with 0.75 ethics CPD points), elder abuse – and specifically financial abuse – is examined.
The statistics are of concern – at least 10 percent of Australia’s seniors experience some form of elder abuse, with financial abuse being the most prevalent. A series of factors suggest this may increase – the baby boomers are reaching retirement and can expect to live – and need to fund – 20-30 years. The housing affordability crisis sees their children and grandchildren struggling to pay off huge mortgages – if, of course, they can get into the property market at all.
Meanwhile, if there’s any inheritance left to get, people aren’t likely to receive it until they’re in their sixties or later. The cash strapped taking advantage of the perceived well-heeled – it’s not a new story but it’s one that’s seeing Australia’s vulnerable older generations at increasing risk.
To read the article and complete the CPD, click here.
The views expressed are her own and do not consider the circumstances of any investor.
