5 Days of Advocacy
The incredible lack of awareness when it comes to financial victimization is of major concern. There is an exhaustive litany of regulations and agencies that are supposedly in place to protect the public and have done next to nothing to stop the epidemic of financial victimization.
Presently over 10,000 Americans turn 65 each and every day and will continue on this path until approx. 2020. This represents a literal bonanza for scammers and fraudsters. As bad as that might be, the real tragedy is this growing pool of elderly are currently facing a greater risk from their own family members and friends. Studies have shown that the highest percentage of elder abuse is perpetrated by family members of the senior citizen. It is too cliché’ to say “If you can’t trust family members, who can you trust.” Add the con artists, scammers and downright fraudsters and you have a nearly impossible environment for people to protect themselves from.
Here is the great equalizer: in reality the only perpetrator in any financial victimization is the victim themselves. Now I am quite aware that pointing fingers at victims is never a good thing, yet in this case it is very important that this phenomena is identified. The financial victim has a choice in their process. Unlike robbery or burglary no one put a gun to the head of the victim or illegally entered their homes, no the victim participated in the entire chain of events. The initial causation is the opportunity the victim invited. We discussed the 3 psychological triggers and how they are launched and later used against the victim, and this process is quite evident throughout the experience. The saddest fact is that the victim had the 100% total control in stopping the process dead in its tracks. Without the primary causation there can be no victimization.
Today we look at the behaviors that become the causative action in all victimizations. Firstly let’s make it abundantly clear that there is no specific type who is more prone to victimization, of course there are some human behavior traits that are common in victims. Anyone at anytime can become a financial victim. You presently just finished saying in your head how it could never happen to you, please erase that thought and come to the hard realization that you definitely are risk of financial victimization just as everyone of us is. If you tend to trust people and have an easy susceptibility to believing people you could be a financial victim. If you believe money is of vital importance you could be a financial victim. If you have a scarcity driven attitude you could be a financial victim. If you believe in the get rich quick mentality, you could be a financial victim. there are many other thoughts, attitudes and behaviors that could easily make you a financial victim.
Stop the process in the very beginning. Start keeping a financial journal, record your financial decision making process and continue to study the common traits exposed in your process. After identifying these traits write down a strategic plan to change these traits and behaviors. Just remember its impossible to change that which you are basically unaware of.
YOUR Best Interest IS OUR Only Concern!