PPB November 2021

100 Is The New 80 More than half a million people around the world have celebrated their 100th birthday. The U.S. is home to about 97,000 centenarians—more than anywhere in the world. By 2050, there are projected to be more than three million centenarians globally. Source: World Economic Forum Elder Abuse Awareness An estimated five million seniors are abused every year, with caregiver neglect being the most common type of abuse. Older adults with disabilities, memory problems or dementia are most frequently abused. Don’t let this abuse go unchecked. Work with community organizations on promotions and campaigns to raise awareness about elder abuse, the signs to watch for and how to help if abuse is detected. Source: National Council on Aging If You’re Happy And You Know It They’re called the golden years for a reason—research shows that many people tend to get happier as they age. After age 55, people reach peak happiness levels with their finances, physical appearance and overall well-being. Adults reach their highest levels of happiness in their 80s. Source: Bank of America and Merrill Lynch report Fast Facts: Assisted Living More than 835,000 Americans reside in assisted living communities. • 70% of residents are female • Most residents stay about 22 months and then move to a nursing facility or a higher level of care Source: National Center for Assisted Living Get Smart About Scams Fraudsters love to target older individuals. They know these adults have sizable nest eggs, are more trusting of others and may not understand technology well. The FBI estimates that seniors lose more than $3 billion a year to fraudsters. When they’re scammed, seniors lose $500-$1,500 on average, according to the Federal Trade Commission. The most common scam? Tech support scams followed by fake prizes, sweepstakes and lotteries. Older adults also fall victim to romance scams. Fraudsters contact them through online dating sites or express false romantic interest to get money. Romance scams cost adults ages 70-79 an average of $10,000 in 2020. How can you help? Work with organizations like banks, credit unions or senior centers on promotional campaigns to educate older adults about scams and what to do if they have been targeted. | NOVEMBER 2021 | 43 GROW