By Yana Puckett, MD

Case Presentation

IntroductionThe aging brain may affect an older adult's ability to manage personal finances.

Even cognitively intact older adults can have “functional” changes that may render them financially vulnerable.

Capitalistic enterprises can threaten the financial security of this group, which is perceived to be a large untapped market

Concept of age-associated financial vulnerability (AAFV)

The ProblemAAFV places older adults at substantial risk for a considerable loss of resources.

Unrecognized and a new problem.

Clinical Syndrome?

This opinion piece was written to alert clinicians and public health workforce to AAFV.

To further critical research, promote public policy work, and encourage physicians to

recognize it.

Relevant Research on AAFV4000 older adults in New York State, 4.7% of participants reported experiencing some form of financial exploitation since turning age 60 years.

Limitations: phone interview, lack of insight of elderly into their vulnerability.

Characteristics of Population Targeted in Opinion PieceAging population, in presence or absence of dementia.

First: AAFV behaviors must affect quality of life

Second: requirement that these behaviors be of recent onset and differ from previous financial decision-making patterns excludes patients who had poor premorbid financial literacy and decision making

Public health Implications of ArticleThe role and responsibilities of physicians in protecting

their patients with AAFV must be defined and supported with evidence-based tools.

Balance between allowing autonomy and protection of older adults.

Potential Mitigation StrategiesMore research needed

Determine risk factors

Screening and intervention programs

Policy implications

Senior Savings Protection Act (2015)Allows financial agents put a 10-day hold on transactions

they believe could be attempts to financially exploit a person over 60 or with a disability.

That broker-dealer must then contact state securities and senior welfare officials and can contact the person’s family or guardians about the suspected fraud attempt.

It is not universally applied to all citizens over 60.

Good start

Ethical implications?

SummaryIn summary, this article addresses the need to monitor the health status of our elderly population.

It brings into light a new problem - AAFV - that poses a threat to the aging community.

Informs and educates on AAFV

Mobilize and empower people to address AAFV.