Originally shared by Charles Schwab.
June 15 marks Elder Abuse Awareness Day, a time for communities around the world to come together and raise awareness about the challenges many older adults face—and our shared responsibility to protect and support them.
One of the most troubling and often overlooked forms is financial abuse, which involves the unauthorized or improper use of a senior’s funds, property, or resources.
What You Can Do to Help Protect the Seniors in Your Life:
- Talk About Money
Maintain open conversations with older family members about their finances. Encourage them to create a financial plan.
Learn more: Aging Parents? 5 Money Topics to Discuss - Stay Informed
Watch for signs of financial exploitation—like sudden account changes, altered estate documents, or unusual spending. - Report Suspicions
If you think someone may be experiencing financial abuse, report it to adult protective services, local law enforcement, or the individual’s bank.
What Seniors Can Do to Protect Themselves:
- Stay Connected
Keep in regular contact with friends and family. Staying engaged helps reduce isolation—a key risk factor for abuse. - Plan for the Future
Organize financial and legal documents in advance to manage challenges that may come with aging.
Learn more: Planning for the Challenges of Aging - Review Your Finances Regularly
Understand who can help manage your money. Learn how powers of attorney work and when they’re appropriate.
Explore: Financial Caregiving 101 - Add a Trusted Contact
Naming a trusted contact can provide another layer of account protection.
Read: Why You Should Establish Trusted Contacts - Protect Your Information
Never share personal details like Social Security numbers, passwords, or bank information via phone or email.
Together, we can make a difference.
Raising awareness and staying informed are vital first steps in protecting older adults from abuse—and ensuring they continue to live with dignity, security, and peace of mind.