Financial advice for the elderly: Scams!

March, 2013

The elderly lose more money to mass marketing scams than any other demographic. If you provide elderly care help to a friend or relative, or assist in community care for the elderly we encourage you to pass on the following hints and tips as part of our financial advice for elderly citizens, to help reduce the amount of junk mail received and prevent potential scam victims from falling prey to mass marketing scams in the future:

  • Avoid filling in marketing surveys or questionnaires. Junk/scam mailers buy this information to send junk mail, unwanted emails and make high sales telephone calls.

  • Have their name/address removed from directories such as Organisations/businesses can use these directories to legitimately obtain names and addresses but consumers can request to have their details removed.

  • Encourage them to write ‘unsolicited mail, please return to sender’ on junk mail with a return address and put it back in the post unstamped. This may increase the mailers costs and discourage them from sending more.

  • Register regularly with the Mailing Preference Service (free of charge) There is a similar free scheme for unwanted telephone calls called the Telephone Preference Service, visit

  • When they fill out their annual electoral registration form, make sure they choose for their details not to be added to the ‘Edited Electoral Register’.

  • Always make sure they tick the opt out boxes to say that they don’t want any further information about ‘other products and services’ etc. when they have to give their name/address to businesses.

Lastly, inform them to never respond to a scam email or bogus telephone call. Tell them not to provide callers/emailers with any information be it personal or financial; delete scam emails and put the phone down on bogus callers!

Related Articles

  • As we are currently surrounded by economic turbulence, when it comes to retirement the focus always appears to be on providing financial advice for the elderly (and actually, that’s something we’re going to look more closely at next month) but with the summer coming to an end and the darker nights drawing in let’s not put all the focus on finances; we’ll put retirement planning to one side for the moment and concentrate on retirement living!

    Read more
  • premiums

    Older people paying premiums for travel, motor and health insurance

    Older people are being hit with increased premiums for travel, motor and health insurance, forcing some to give up crucial cover when they need it…

    Read more
  • last-will

    Elderly Information : Wills

    Financial advice for elderly relatives is important and one area that can’t afford to be overlooked is the Will. Making a will is vital to…

    Read more