Older adults make up 15% of the US, performing millions of financial transactions involving hundreds of millions of dollars each day. The risks to their money are high: One in 20 feel they have been financially mistreated in the recent past. While scams and fraud skyrocket, we must also take care to protect the rights of the capable. Our interview tools help professionals determine their clients' ability to make a financial decision, and either continue the transaction with confidence or postpone for more information.
Forty-eight million US adults are 65 or older and worth billions of dollars in income and assets.The pursuit of these “nest eggs” is one of the fastest growing consumer fraud issues today. Older Adult Nest Egg seeks to protect these adults from financial fraud through education, research and risk assessments. Our validated tools and trainings allow professionals who work with older adults to access and document their clients' decisional ability to make specific financial decisions.
Frontline Professionals, caregivers, family and friends
You work with older adults making financial decisions. You are an attorney, a banker, an estate planner, a social worker, an insurance agent, a law enforcement official, or an employee of Adult Protective Services. You might be an adult son or daughter charged with handling your parent's checking account. Or you're the neighbor who looks in on 84-year-old Marion and helps her pay her bills. Older Adult Nest Egg offers education, training, assessments and resources to help you help the older adults in your care.
The older adult nest egg team
Dr. Peter Lichtenberg, one of the country's leading experts in the prevention of financial exploitation in older adults, leads our multidisciplinary team. He has written seven books including the two-volume APA Handbook of Clinical Geropsychology (2015) and more than 200 peer-reviewed articles in areas such as mental health in long-term care, geriatric depression, and the detection and management of Alzheimer's. In 2013, he became one of the nation's first Diplomates in Clinical Geropsychology (ABPP). As director of Wayne State University's Institute of Gerontology, he has won record levels of funding and created programs to benefit more than 10,000 older adults and professionals each year.
The team includes a social worker, a financial expert, and a clinical psychologist who interview clients and analyze data as the Nest Egg interview tools launch coast-to-coast. Team members also provide one-on-one counseling in southeast Michigan to victims of scams and identity theft, as well as workshops to educate older adults and caregivers about managing finances.
Institute of Gerontology
At Wayne State University
87 East Ferry St.,
Pauline Knapp Building
Detroit, MI 48202