Financial Risks For Retirees
Dear Accounting Professor: I recently retired and want to know about the risks that I might encounter during my retirement years. What should I be concerned about as a new retiree? Concerned, but Retired Dear Retired, Unfortunately, retirees are very susceptible to fraud. Based on the research that I have read, those who have health issues and those who are very dependent upon one or a small group of people to meet their needs are at risk of being defrauded. Unfortunately, as we age, we are forced to trust people that we would not otherwise interact with because of our own developing health needs. My opinion is that these experiences in the medical setting condition people to let their guards down and trust unknown people more even when they are outside of the medical environment. This increase in trust levels makes us more vulnerable to becoming victims of fraud. Also, retirees who have their financial matters on autopilot are also at a higher risk of becoming victims to these