New Tool Helps Seniors Avoid Scams

October 18, 2011 ( - A new toolkit – Savvy Savings Seniors: Steps to Avoid Scams – was created to help educate older adults on how to protect themselves from financial abuse and scams.  

The toolkit was created by the National Council on Aging (NCOA), the Women’s Institute for a Secure Retirement (WISER), and the Bank of America Charitable Foundation. It is the second in the Savvy Saving Seniors financial education series, following the release of a guide on money management skills earlier this year.

In addition to offering typical scam scenarios, the toolkit includes step-by-step instructions for professionals to facilitate a workshop with older clients, and a list of signs for caregivers and family members to look for when concerned about their loved one.

“All seniors, but especially older women — the prime targets of financial scams, need the very best information to protect their income and assets and avoid financial exploitation,” said Cindy Hounsell, president of WISER, in a press release.  

The Savvy Saving Seniors toolkits are part of a larger initiative between NCOA and the Bank of America Charitable Foundation to provide one-on-one financial assistance to over 1,200 older adults experiencing economic distress over the next year.

“Everyone can benefit from financial education—but it’s especially important for vulnerable populations, such as seniors, who may have little income and resources,” said Kerry Sullivan, president of the Bank of America Charitable Foundation. “We hope that this toolkit enables older adults to acquire the knowledge and skills they need to avoid scams and remain in control of their income and assets.”

To participate in a free webinar on October 24 on how to use the toolkit, click here. For additional information on this toolkit and how to get help, click here.