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3: Analyze Your Decisions

What Happens to Invite Fraud?

smart phone displaying a lock

As you age, you will no doubt witness changes in your ability to remember things and make decisions. This is a normal part of aging. But as your cognitive skills decline, you are more prone to fraud and other forms of deceit by those willing to take advantage of you.

Some common signs of cognitive decline affecting financial decisions include:

  • Taking longer amounts of time to complete financial tasks
  • Missing key details in financial documentation
  • Having difficulty with everyday math
  • Showing decreased understanding of financial concepts
  • Displaying difficulties identifying risks, especially with investment opportunities

The key is being prepared and having a network you can trust if (when) you recognize these signs.

Rate Yourself for Financial Decline


Are you vulnerable to fraud? Use the signs of financial decline above and rate yourself as either “yes” or “no” to the statement for your vulnerability. If you answer yes to one or more of these signs, you may wish to speak with a spouse or significant other, trusted friend or some other confidante about getting help with your financial decision making.

How Fraud Impacts Your Retirement

Fraud has become a big and thriving business — especially Internet-based fraud. More often, we think of fraud in terms of the financial impact it has in addition to how long it takes to get things straightened out. As you age, fraud can be more devastating when you have a limited income stream.

Other potential effects of fraud can include:

  • Personal credit problems
  • Emotional problems (depression and marital strife) as well as feelings of vulnerability
  • Loss of independence or general impoverishment
  • Physical problems such as insomnia and other stress-related ailments

None of this sounds like the ideal retirement situation you’ve planned for while you’ve been working so hard.

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