Legal But Inappropriate Financial Products – By Jennifer L. FitzPatrick, MSW, LCSW-C, CSP

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Like many investors, my Grandmom lost a lot of money in the late 2000s.  It caused her a great deal of stress…and anger.  After losing so much money, she was told by a representative at her bank that if she wanted to earn some of that money back there was a way. 

Click here for a video of the story:  https://www.youtube.com/watch?v=lWBSab0djvM

There was nothing inherently wrong with the product.  But it wasn’t a suitable one for my Grandmom for a variety of reasons.  Maybe it was ignorance on the part of the financial professional.  Or perhaps the financial professional just cared more about making a commission on the sale of the product than serving his client.  While most financial professionals are ethical and knowledgeable, it is critical for older investors and their loved ones to keep their eyes open.  And this is why I recommend the 24 Hour Rule to most older adults.

The 24 Hour Rule means that most older adults should take a day to consider any new “opportunity” to part with their money, particularly when this “opportunity” is presented by someone they don’t know very well.  This includes a new financial product that’s being recommended by a new person.  Or a charity request.  Or lending money to somebody they don’t know very well.   Or buying property… or a vehicle. 

Take 24 hours to talk it over with people you trust.  Sleep on it.  Do some research about what you’re getting into.

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

Hello! I’m Officer Julie Smith from the Internal Revenue Service – By Guest Blogger Paul Hynes, CFP

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The title of this blog is the opening line in a phone call that people around the country are getting. Is it really a call from the IRS? No, it’s not.

Senior Safe & Sound warns everyone to be aware of scam phone calls from criminals intent on stealing their money, their identity, or both. These criminals pose as officials from the IRS. The tone of the call is often threatening and intimidating. You can listen to two examples of these fraudulent calls by clicking here and here.

According to the IRS website, the IRS will not:

• Call you to demand immediate payment. The IRS will not call you if you owe taxes without first sending you a bill in the mail.
• Demand that you pay taxes and not allow you to question or appeal the amount you owe.
• Require that you pay your taxes a certain way. For instance, require that you pay with a prepaid debit card.
• Ask for your credit or debit card numbers over the phone.
• Threaten to bring in police or other agencies to arrest you for not paying.

Phone scams such as this one often target older people, but just about anyone can become a victim if they’re not careful.

So, remember that the IRS will not call you out of the blue. And, tell your friends and family about this scam. Education and awareness is your best protection from this scam and others like it.

To learn more about this scam, visit

https://www.irs.gov/newsroom/irs-urges-public-to-stay-alert-for-scam-phone-calls

Paul Hynes, CFP is the Founder of both HearthStone Private Wealth Management and www.Safeandsound.org, an on-line resource and blog to help educate the public and prevent financial elder abuse.  His organizations are located in the San Diego, California. To reach him go to www.safeandsound.org or www.hearthstoneinc.com.

Understanding Millennial Staff & Patients In Healthcare – By Jennifer L. FitzPatrick

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Unfortunately, stereotyping based on age is not unusual in healthcare.  This is a problem because it’s essential that we treat patients, caregivers and colleagues of different generations with respect.  But do you know how to most effectively treat persons of different generations with respect?  If you are a Gen-Xer, Baby Boomer or Traditionalist, check out this short video on how to better understand your Millennial patients, caregivers and colleagues in the healthcare workplace:

https://www.youtube.com/watch?v=MMMZ62S7Kc4

 

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

Tips For Confronting A Risky Older Driver – By Jennifer L. FitzPatrick

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If you have an older patient, client or loved one whose driving concerns you, you are not alone.  Most of us struggle with talking about dangerous driving with older patients, clients and loved ones.  Just getting older involves physical and cognitive changes that can impact road safety.

Check out Jennifer FitzPatrick’s first international radio appearance discussing tips about this issue with Gord Gillies on News Talk 770 Calgary https://omny.fm/shows/the-morning-news-with-gord-gillies/seniors-driving .

 

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.

How To Customize Service To Different Generations Without Making Assumptions – By Jennifer L. FitzPatrick

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Recently I was in a department store waiting in a long line.  Normally I amuse myself by checking social media when I am stuck in a long line. But not this time.  I had the opportunity to witness a really powerful example of how to serve generations the way they want to be served.  Click here to check out the story of how the salesperson I observed was generationally sensitive to a customer without stereotyping.

For video, click here.

Jennifer L. FitzPatrick – MSW, LCSW-C, CSP
The founder of Jenerations Health Education, Inc., Jennifer FitzPatrick has over 20 years’ experience in healthcare and gerontology. The author of Cruising Through Caregiving: Reducing The Stress of Caring For Your Loved One, she is also a gerontology instructor at Johns Hopkins University and an Education Consultant to the Alzheimer’s Association. She helps you reduce stress and increase productivity, morale and revenue. Jennifer and Cruising Through Caregiving have been featured in Forbes, U.S. News & World Report, The Huffington Post, Reader’s Digest, Univision and The Chicago Tribune. She has also appeared on ABC and Sirius XM.