Monday, September 19, 2011

Senior Con Games


Con games are nothing new.  When the target is a senior, the stakes have never been higher.  Senior scams are costing older adults their life savings, their homes and even their lives. There has been a significant increase in the number of cases in which elderly scam artists have taken advantage of older investors, according to a Wall Street Journal report.
“That’s a definite new trend,” said Denise Voigt Crawford, the Texas securities commissioner. “We’re seeing more cases of older people ripping off other older people.” The Wall Street Journal recaps several cases in which older financial planners allegedly took advantage of fellow senior citizens. Reporters Jason Zweig and Mary Pilon quoted psychologist Mara Mather of the University of California, Santa Cruz, as saying older adults seek less data than younger persons when making complex decisions, and they go out of their way to avoid negative information.
What makes seniors so vulnerable?  According to research  by the Consumer Fraud Research Group and the National Association of Securities Dealers, physical and psychological needs are at the heart of this issue.  Seniors may worry that they will outlive their money and are looking for ways to improve their financial position.
The top five senior scams are:
Prizes and Sweepstakes scams: Being told they have won a sweepstakes and asked to send a check to cover the taxes.
Home Improvement Frauds:  Criminals knock on their door, offer to do repairs, ask for payment to buy materials, then disappear.
Phishing Schemes: A scammer calls claiming to represent a bank stating their account has been compromised and asking to verify their account number.
Internet Fraud: Seniors may unwittingly give their credit card number to a scammer.
Identity Theft:  Giving out their birth date and Social Security number can open their entire identity and history to a thief.
What can you do to protect seniors?
Watch for unusual activity, i.e. changes in lifestyle or unusual financial activity
Be on guard for individuals who have befriended your loved one.  Ask to talk to their new friend.
Investigate organizations looking for money.  Request written information on the organization.
Assist loved ones with their finances.  This may involve becoming financial power of attorney.
Destroy/shred information that could be compromised, i.e. financial information, applications, credit cards.
Seek a second set of eyes.  Help them build a support network which could be neighbors, friends or professional caregivers who can help spot scams.  The website CaregiverStress.com offers a “Helping Seniors with Finances” video providing ideas on how to begin and offering resources.

Wednesday, September 7, 2011

7 Easy Ways You Can Improve Your Memory Now


Originally Published in USA Weekend - August28, 2011 Written by Madonna Behen
Nearly every day it seems, researchers discover new details about the intricate workings of the human brain. In laboratories across the U.S. and abroad, neuroscientists are pinpointing the specific areas of the brain that are involved in memory, learning and other routine cognitive tasks, and identifying techniques that may help us improve those skills.
We culled the most recent research and talked to top experts in the fields of cognition and aging to come up with the latest advice on what you can do to improve your memory, no matter what your age.
Does the list of things you find yourself forgetting seem to grow longer by the day? Maybe it’s the password for your online bank account. Or the title of that new novel your best friend raved about. It might be your co-worker’s name, or the location of your reading glasses. Or possibly it’s the car keys that always seem to go missing when you’re already 10 minutes late for an appointment.
The good news is, you don’t have to resign yourself to a failing memory and just stock up on extra reading glasses.
“If you think of your brain as a computer, then what age does is slow it down a bit,” says Dr. Gary J. Kennedy, director of geriatric psychiatry at Montefiore Medical Center in New York City. “But there are plenty of things you can do that can improve and upgrade your brain’s software, so to speak, and overcome a lot of the changes that come with aging.”
World memory champion Ed Cooke, whose prize-winning techniques are detailed in Joshua Foer’s new book, “Moonwalking With Einstein: The Art and Science of Remembering Everything,” says the secret to improving your memory is all about making it fun.
“If you want to notice and learn more, stop thinking of memory as a boring grey unconscious storehouse, and start thinking of it as a playground for your imagination,” says Cooke.

1. Paint a Mental Picture

“We forget names and dates because they’re boring and have no effect on our imaginations,” says Cooke. “But we never forget vivid and interesting experiences, such as flying a bi-plane under a bridge or accidentally buying a Da Vinci at an auction while scratching an ear absent-mindedly.” So the secret to learning a person’s name, he says, is to “make your experience of it much more vivid than just a collection of sounds.” For example, the name “Andrew Bush” can become A Bush with lots of hands in it, and “Martin Van Buren” can become a Martian in a van that’s burning.

2. Switch Things Up a Bit

If you’re having trouble learning and retaining new information on your computer screen, whether it’s the details of your new insurance plan or a how-to guide to home repairs, try changing the font to a style that’s harder to read. A recent study by psychologists at Princeton and Indiana University revealed that adults who studied complicated information that was printed in unfamiliar fonts scored better on tests than those who read the text in a popular font style. The theory, the authors believe, is that the hard to read font forces your brain to concentrate more intently on the information.

3. Talk to Yourself

We’ve all had those embarrassing memory lapses when you run into someone you know and yet can’t seem to remember his or her name. Psychologist Deborah M. Burke, who studies cognition and aging at Pomona College in Claremont, California, says these “tip of the tongue” memory lapses are more common as we age because the neural connections in our brains tend to weaken. “The reason names are so problematic is that there’s no way around it, while with other words you can usually substitute something else,” says Burke.
The way to prevent these kinds of memory problems is to say the name or word out loud. “For instance, if you’re going to a cocktail party, it helps to rehearse saying the names of the people who will be there.” When you meet someone for the first time, make a habit of saying their name out loud, so you’ll be more likely to remember it later. If you still end up blanking on the name, try to stay relaxed about it, says Burke. “If you desperately start thinking of all the names it could be, it can make it harder to remember the actual name.”

4. Use it or Lose it

What’s true for your body is also true for your brain. The more you work it, the healthier and sharper it will be, experts say. But that doesn’t necessarily mean you need to start doing crossword puzzles, even though you think they’re about as exciting as watching paint dry. “The only thing that doing crossword puzzles a lot will do is make you good at doing crossword puzzles,” says Burke.What’s more useful, she says, are activities and exercises that increase your use of common language, such as playing scrabble, taking an online course, or learning a new language. In fact, the more languages you know, the better it is for your memory. A recent study by researchers in Luxembourg revealed that older adults who spoke more than two languages were three times less likely to have memory problems than people who were bilingual. Switching from one language to another, experts say, helps to strength the connections in our brains.

5. Don't be a Loner

Numerous studies have shown that the more socially-connected you are, the less likely you are to develop memory problems and other signs of mental decline as you age. To Burke, it makes sense since social interaction involves speech. “We know that word finding problems are reduced when you actually use language more, which is why things like book clubs and other types of discussion groups are so beneficial,” she said. Social activities that don’t involve a lot of talking, such as Bingo or movie excursions, aren’t as good for keeping mentally sharp. Even participating in online social networking activities like Facebook and Twitter is helpful, because all that writing increases your language production.

6. Take a Walk

A growing body of research is showing that physical activity is just as beneficial for your brain as it is for your body. “What we’ve discovered is that exercise helps the brain sprout new connections between neurons,” says Dr. Kennedy. “This is especially true in the hippocampus, which is the part of the brain where our working memory partially resides, and so what exercise is doing is putting new connections in the part of the brain that is most susceptible to problems from aging. And recent studies by researchers at Johns Hopkins University and the Center for the Neurobiology of Learning and Memory at the University of California, Irvine suggest that regular exercise might actually slow or possibly prevent memory deterioration.
How much exercise do you need? Maybe less than you think. One recent University of Pittsburgh study of adults in their 60s found that those who took a brisk 40-minute walk three times a week scored better on memory tests than those who were sedentary.

7. Get a Good Night's Sleep

Anybody who’s pulled an all-nighter before a big test knows that it can backfire, since the complete lack of sleep can leave you groggy and not thinking clearly. But a new animal study by Stanford University researchers suggest that even getting a full eight hours of sleep the night before a test or performance can impair your ability to remember if that sleep is fragmented or frequently interrupted. “Regardless of the total amount of sleep, a minimal unit of uninterrupted sleep is crucial for memory consolidation,” the authors wrote.



Monday, September 5, 2011

Myths of Retirement


Almost all our working lives, we dream about retirement, however our expectations may not  be fulfilled.  When you think of retiring, have you ever had any of the following thoughts?

  1. “Retirement is the end of my working life.” In reality the last day of their career is the first day of the rest of their lives.  For most people, there may be a period of transition from working to creating a new lifestyle.

  1. “Someone or something else will take care of me.”  With the present economy, changes in pensions and investments and speculation regarding Social Security, it is unlikely that someone else will take care of you.  In some instances, seniors are assisting their adult children financially, thereby decreasing their savings for their own future. 

  1. “Retirement will be wonderful because I’ll spend my time with my spouse.”  This can be very challenging!!!  Many couples have only actually spent about 20% of their time with their spouse before retiring.  Statistics now indicate that the highest divorce rate is couples over 55.

  1. “Once I retire, I’ll never work again.” This may not be true.  Retirees work because they need the income, socialization or because working gives them purpose – a reason to get up in the morning. They may start a new career, volunteer or go back to college.

  1. “If I have enough money, I’ll be happy.”  The old saying that money doesn’t buy happiness is all too true.  Money doesn’t satisfy the most essential human needs of relationships, meaning, purpose or desire to leave a legacy.

  1. “You can watch your physical and mental capabilities decline.”  This is true if you make it true.  Through good nutrition, rest,  exercising both your mind and body and having a positive attitude, you can influence how you age. 

  1. “Everyone ends up in a nursing home.”  Studies show most seniors choose to remain at home.  Fortunately there are agencies that can assist them to do so and enhance their quality of life.

  1. “The best time to think about retirement is when I retire.”  It‘s much more difficult if you wait.  By planning your new lifestyle early you can have everything in place to make it an easier transition for you.  You’ll know the direction you wish to take and have the resources to support those decisions.

Retirement can continue to be a productive, fulfilling time. Consider it a time to “re-fire”. Plan ahead and enjoy the possibilities!