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The Forum > Article Comments > Keeping an eye on the Bank of Mum > Comments

Keeping an eye on the Bank of Mum : Comments

By Sarah Russell, published 8/5/2015

State Trustees Victoria report For Love or Money: intergenerational management of older Victorians' assets shows that women over the age of 80 are most at risk of financial elder abuse.

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onthebeach

My intention was to show that financial elder abuse is a major issue, though perhaps less so for part- or fully self-supporting elders that you see with your volunteering position.

My research in recent years has focused on residents of aged care facilities, not elder people living in the community.

I am quite sure your list of concerns of elderly people are all important, but I am not in a position to comment as I am not aware of the research in these areas.
Posted by Sarah Russell, Friday, 15 May 2015 9:25:44 AM
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Sarah Russell,

Financial abuse of seniors is just one element of broader range of behaviours, both unintentional (often insensitivity) and deliberate, that affect them.

I do not as you seem to believe, imagine that financial abuse is non-existent or unimportant where it occurs. Why you would like to flag it as a gender issue, both for the victims and the alleged offenders I am at a loss to understand.

Why rule out men as victims is not understood, particularly where men are surviving longer and regrettably, women are said to be more likely to experience some of the conditions that have shortened men's lives. In any event that diverts attention away from the problem. As well, the pointed reference to men as offenders is silly, again diverting attention and what for?

However my main criticisms have to do with poor planning and coordination within and among the levels of government and with the various quasi-autonomous non-governmental organisations (quangos) and NGOs. There are far too many with an ora in and taking dips form the bucket of taxpayers money.

First there needs to be are-examination of what being 'old' is and what lifestyles are possible. After all, even medical practitioners get get little time on gerontology during their training.

Returning to financial abuse, it seems to me that most of the 'abuse' that is occurring - the large holes in the financial assets and budgets of the retired and prospective retired - is comping from insensitive, uncoordinated government and policies rooted in economics and 'productivity'. It is Council rates based on land values that advantage the incomes of Councils but cruelly force seniors out of their family homes of a lifetime, for example. That in turn owes much to 'Big Australia' policies at federal government level resulting in strains on infrastructure and higher housing prices (migrants).

Studying one element in the absence of others and recommending action accordingly is fraught with problems.
Posted by onthebeach, Friday, 15 May 2015 12:09:22 PM
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My, "There are far too many with an ora in and taking dips form the bucket of taxpayers money" should be, " There are far too many with an OAR in and taking dips from the bucket of taxpayers money".
Posted by onthebeach, Friday, 15 May 2015 12:15:38 PM
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