Seniors’ finances ARE under attack from those who want to take their money or make money stealing their identities to impersonate them.
Our latest episode of the Senior Care Corner® Show addresses how we can help our seniors protect what they have from ID theft.
Of course, everyone’s finances are under attack, but our mission is to support family members in the care they provide for senior loved ones. If we pick up something along the way that we can use to our benefit as well, it’s icing on the cake.
Data Society Subject to Security Breaches
Almost weekly there is news of another major breach of sensitive customer data that a company has discovered. It’s not limited to businesses, either, as South Carolina taxpayers can attest. How many breaches are there that don’t make the news – - or that aren’t even known to the companies whose systems have been breached?
This is not intended as an attack on those who hold our data, as even the most secure systems in the US are getting hit by hackers. Rather, it is a signal to us to take what actions we can to protect our financial lives against these breaches.
Identity theft may never happen to one of your senior loved ones – - and we hope it does not. It’s so much easier to take protective steps up front than it is to repair the mess it can become afterward, however, that we should help the seniors in our lives consider and implement those steps.
Freeze and Monitor Credit Files
Credit freezes, also called security freezes by the credit reporting agencies, are the top line of defense against ID theft for many. For seniors who are not making applications for new loans or credit cards, there may be no inconvenience as a result of the freeze and little or no cost for the protection it provides.
Another line of defense is monitoring our senior loved ones’ credit reports. There are abundant ads for companies offering to provide a variety of services for a range of fees. Most of us, however, can effectively monitor credit without paying fees.
Download or stream this episode of the Senior Care Corner Radio Show to learn more about steps we can take to help seniors protect their financial identity and why those steps are so important.
News Items in This Episode
- FBI Executes Search Warrant at The Scooter Store
- Chemicals in Cookware, Carpets may Raise Arthritis Risk in Women
- Aging Doctors Leave Supply of Physicians in Critical Condition
- Everyday Activities May Have Same Health Benefits as Going to the Gym
Links Referenced in This Episode
- Equifax security freeze
- Experian security freeze
- Transunion security freeze
- Free annual credit reports (truly free)
- Opt out from prescreened credit offers
We hope you enjoy this episode of the Senior Care Corner Radio Show and find the information helpful to you and the seniors in your lives.
We appreciate the feedback we get from our listeners and would love to hear from all of you what we can do to better help you improve the lives of your senior loved ones. Please leave us a comment or send us an email through the Contact Us page.
Podcast Transcript – so you can follow along or read at your convenience