EverSafe Newsletter

SENIOR FINANCIAL PROTECTION NEWS

Providing thought-provoking articles, commentary and general information on issues related to aging and financial health.

June Brings Lengthy Heat Wave

SENIORS MOST VULNERABLE TO HEALTH CONCERNS

This past month brought heat waves across the United States. And according to the National Oceanic and Atmospheric Administration2024 is on track to be one of the five hottest years on record – with a strong chance that this  coming summer Woman drinking a glass of waterwill be the warmest ever. The heat is challenging for many of us. But older adults are more vulnerable to heat-related health risks because their bodies become less efficient at regulating temperature changes. Seniors are also more likely to have chronic medical conditions and to take medicines that may alter the body’s ability to control temperature or sweat. The effects of over-heating may result in heat syncope (dizziness), heat cramps, edema (swelling), heat rash, or heat stroke, which is a medical emergency in which the body’s temperature rises above 104°F. Signs of heat stroke are “fainting; confusion or acting strangely; not sweating even when it’s hot; dry, flushed skin; strong, rapid pulse; or a slow, weak pulse,” according to the National Institutes on Aging. Tips for keeping safe in these record-breaking temperatures include: staying out of the sun, drinking fluids throughout the day but avoiding alcohol and caffeine, and staying indoors – especially during mid-day hours.

Olive Oil and Dementia

STUDY FINDS SURPRISING CORRELATION

A Harvard study of 90,000 healthcare professionals looked at the potential relationship between olive oil consumption and mortality. It concluded that higher olive oil intake is associated with a lower risk of death from dementia. Consuming about a half Olive oil in a jara tablespoon of olive oil every day was tied to ”an adjusted 28% lower risk of dementia – related death.” Although the researchers expected that this improvement might be due to the vascular benefits of olive oil, they found that “incident cardiovascular disease, hypercholesterolemia, hypertension, and diabetes were not significant mediators of the relationship between olive oil and dementia-related death in this study.” And interestingly, although people who use olive oil for cooking typically have an overall healthier diet, the study noted that the association between olive oil and mortality existed – regardless of this factor.

GOVERNMENT / LEGISLATIVE UPDATE

WORLD ELDER ABUSE AWARENESS DAY RECOGNIZED

WEAAD LogoWorld Elder Abuse Awareness Day (WEAAD) is recognized by the World Health Organization at the United Nations every year on June 15th.  It’s a time when nations focus on the problem of abuse and neglect in later life and promote a better  understanding of this crisis, “raising awareness of the cultural, social, economic, and demographic processes” involved in prevention. Toward that end, states have been active in enacting laws that are focused on elder abuse, especially the financial exploitation of older or vulnerable adults. Legislation addressing these crimes includes laws focused on reporting, criminal penalties, and ways to raise awareness. In last year’s legislative session, 34 states and Puerto Rico addressed financial exploitation of older victims with 17 enacting new legislation, according to the National Conference of State Legislators.

SCAM ALERT

BITCOIN NOW POPULAR WITH FRAUDSTERS

As EverSafe members are aware, we believe that knowledge is power. And keeping on top of the latest scams and educating loved ones and clients is critical. One of the most common schemes we are seeing now involves bitcoin. Simply put, bitcoin is a type of cryptocurrency (a “virtual” form of money) designed to act as currency and a form of payment outside the control of any one person, group, or entity. It was designed to disengage the involvement of third-parties (i.e. bank or brokerage) from the financial transaction which is used to effect the scheme. Although bitcoin is popular with some investors, scammers are now using bitcoin Bitcoin photomachines to complete their nefarious schemes. This permits them to “fly under the radar” as they pursue fraud or theft. The bitcoin scam may operate as follows: an individual receives a text, email, or pop-up on their computer which indicates that their financial accounts are at risk. This false information may claim that their funds have been used in a crime. Other victims claim that they were asked by their boss to buy gift cards for clients or employees (at holiday time) using bitcoin, but that they are out of the country so that the gift card numbers need to be read to them. There are variations on this theme, but the bottom line is a direction to withdraw funds from their account and complete the transaction in bitcoin. Many of these victims are directed to ATM machines that deal in bitcoin, often located at gas stations. The bottom line? If you or a loved one is contacted and directed to send money via bitcoin, assume that it is a scam. This is especially true if you are directed to an ATM machine to complete the transaction. As with any suspicious communication, you can contact EverSafe to discuss what is happening. Most important, do not respond, call telephone numbers, or click any links in the communication. As always, contacting your financial institution to let them know about the scheme is critical.

Trudie Strobel – an Inspiration at 86

WWII SURVIVOR STITCHES TAPESTRIES AS THERAPY

Trudie Strobel photoCBS recently published a moving piece about a remarkable older American. Trudie Strobel, 86, survived the Holocaust and has memories of Nazi soldiers ripping her doll from her hands when she was four-years-old. As seen in the piece, Strobel and her mother were sent to a labor camp and she recalls being called a “dirty Jew” as they were packed into a cattle car in Russia. Miraculously, she and her mother were kept together and both survived the war. After coming to America, she settled in the Chicago area in the 1950s, and now “stitches her dark memories into tapestries.” Her life is now the subject of a short documentary, entitled Stitching A Life.