Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

12 Ways to Identify Financial Abuse Against Seniors

January 19, 2021 · Retirement Life
A senior man hesitating to sign a bank document at a desk.
An elderly man looks concerned while preparing to sign a joint bank account application form.

Realize a joint account is a disadvantage

When someone comes up with the idea to set up a joint bank account or be given power of attorney to signs on your credit card accounts, it might be a warning sign that their intentions are not to help you manage your money but take it away from you.

Although they might say it’s in your best interest and they’re doing it to relieve you of some of your financial responsibilities and associated stress, they are actually doing it to have access to your funds and credit cards for their own expenses.

Related: 10 Money Mistakes That Might Ruin Your Relationship for Ever

A senior person pointing at a transaction on a banking app.
A senior reviews mobile bank transactions on a smartphone to identify any suspicious or unexplained withdrawals.

Watch out for mail or password changes

“Help” might come in the form of a new email address or a new password for your bank account, so that you no longer have access to bank or credit statements. And while you’re being kept in the dark, all under the disguise of keeping you from overspending, it is the so-called friend who is spending your money behind your back.

If your accounts are out of funds or your bills pile up, you’ll only accumulate debt that will affect your credit rating. Not to mention someone you trust is using your money for their own benefits.

Pages: 1 2 3 4 5 6 7

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • Illustration of a mountain valley town with houses, a clock tower, a wooden directional sign, and lupines at sunrise. 15 Scenic and Affordable Mountain Towns to Retire In
  • An older man with drafting tools overlooks a landscape labeled with ages 60, 70, and 80 along mountain ridges. 401(k) Mistakes Retirees in Their 80s Wish They'd Avoided
  • An older couple sits on the tailgate of a pickup truck holding mugs and overlooking a small valley town at sunset. 8 States Where $250,000 Is Enough for a Comfortable Retirement
  • A smiling senior man in a life jacket paddles a green kayak across a misty lake at sunrise near a wooden dock. 15 Affordable Retirement Towns Near Lakes and Rivers
  • A smiling older man walks a brown Labrador and a black-and-white border collie along a paved park path. 10 Side Gigs for Retirees Who Love Animals
  • Older adults smiling and passing food at an outdoor community dinner in front of a brick town hall at sunset. 11 Affordable Retirement Towns With Active Social Calendars
  • Illustration of an older couple walking past kiosks for pharmacy care, public transit, and residential property savings. 11 Senior Discount Programs Launching or Expanding in 2027
  • Illustration of an open hand catching a gold coin beside a bank vault blueprint against a split city and night sky. 11 Windfalls Retirees Can Receive and How They Are Taxed
  • A senior Asian male baker in a flour-dusted apron arranges fresh sourdough loaves on a bakery counter. The 2027 Social Security Update That Benefits Some Working Retirees
  • A plant grows out of an open government envelope toward a sun reading Saver's Match $1,000 in a landscape. IRS Notices Are Going Out About a $1,000 Retirement Match – Are You Eligible?

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

10 Hidden Drawbacks of 401(k)s That Will Leave You Speechless

Limited Asset Classes If you purchase investments in an IRA or a standard taxable account,…

Read More →

11 Reasons Why Baby Boomers Aren’t Prepared To Retire

Spending their retirement savings  Another impressive number of 17% of baby boomers saved for their…

Read More →

10 Common Myths That Might Be Killing Your Early Retirement Plans

You will run out of things to do When considering early retirement, many people ask…

Read More →
A panoramic sunrise view of a misty Pacific Northwest coastline with evergreen forests and distant snow-capped mountains.

12 Most Beautiful Retirement Destinations in the Pacific Northwest

Discover the 12 most beautiful and practical retirement destinations in the Pacific Northwest, balancing healthcare,…

Read More →
Seniors calculating their costs

11 Expenses You No Longer Need in Retirement

Groceries Average household expenses in the US in 2019: $4,646 Are you interested in paying…

Read More →
A retired couple sits on a coastal bench in Maine at twilight, looking out at a harbor with lobster boats.

9 Charming Northern Spots for Retirement

Explore nine charming northern spots for retirement, offering vibrant seasonal beauty, top-tier healthcare, and tax-friendly…

Read More →
A retired couple stands in their empty, sunlit living room next to a moving box, looking out at a sold sign in the yard.

8 Reasons Retirees Regret Moving Too Close To Family

Discover the hidden financial, social, and emotional costs of relocating to be near adult children…

Read More →
A panoramic view of the twin crater lakes of Sete Cidades in the Azores, featuring one blue and one green lake surrounded by lush green hill

9 Scenic (and Cheap) Destinations That Rarely Disappoint

Discover nine scenic and affordable travel destinations perfect for retirees, featuring hidden gems that maximize…

Read More →
A happy senior couple walks through a sunny town square, symbolizing a comfortable and affordable retirement.

These 23 Budget Cities Help Seniors to Retire With $1500/Month

Discover the 23 most affordable retirement cities in the US where seniors can live comfortably…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.