Perceived Types, Causes, and Consequences of Financial Exploitation: Narratives From Older Adults.
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ABSTRACT: Objectives
The goal of this study was to investigate the perception of financial exploitation and its causes and consequences by older adults who have firsthand experience of being exploited.Method
Thirty-one cognitively healthy older adult participants aged 50 or older were drawn from the Finance, Cognition, and Health in Elders Study. In-depth, one-on-one interviews were conducted. Interview transcripts were analyzed using an iterative, data-driven, thematic coding scheme and emergent themes were summarized.Results
Categories of financial exploitation included (a) investment fraud, (b) wage theft/money owed, (c) consumer fraud, (d) imposter schemes, and (e) manipulation by a trusted person. Themes emerged around perceived causes: (a) element of trust, (b) promise of financial security, (c) lack of experience or awareness, (d) decision-making, and (e) interpersonal dynamics. Perceived consequences included negative and positive impacts around (a) finances, (b) financial/consumer behaviors (c) relationships and trust, (d) emotional impact, and (e) future outlook.Discussion
These narratives provide important insights into perceived financial exploitation experiences.
SUBMITTER: Nguyen AL
PROVIDER: S-EPMC8063670 | biostudies-literature |
REPOSITORIES: biostudies-literature
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