30 min
Wealth Guardians: Safeguarding Your Finances & Protecting Against Financial Abuse (Ep 20) A Life Well Lived: Grow, Preserve and Transfer Your Wealth
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- Business
Welcome to another empowering episode of "Wealth Guardians," the podcast dedicated to helping you navigate the complexities of financial planning and wealth management. I'm your host, Ken Ouellette, BPM Certified Portfolio Manager and founder of Oracle Wealth Management.In today's episode, we're delving into a crucial and often overlooked aspect of financial well-being - protecting seniors from financial abuse. Join us on this insightful journey where we'll explore the five key strategies to shield your loved ones and yourself from potential threats. With over three decades of experience, I'll share actionable steps and expert insights to help you build, preserve, and transfer your wealth securely.The topics covered include:* Facilitating Discussions: Starting conversations with family members about financial abuse and being aware of warning signs.* Simplifying Finances: Limiting the number of credit cards and automating bill payments to reduce exposure to potential risks.* Regular Monitoring: Subscribing to credit monitoring services, like Experian, to receive alerts about potential fraudulent activities and freezing credit when not actively seeking new credit.* Reviewing Financial Statements: Regularly reviewing bank and investment statements for any suspicious or unusual activities.* Securing Legal Documents: Keeping important legal documents, such as trusts, wills, and credit card statements, in a secure and fireproof location.* Exercising Caution in Sharing Information: Being cautious about sharing personal information and verifying the legitimacy of requests, especially when dealing with sensitive data.So, whether you're planning for retirement, supporting aging family members, or simply keen on strengthening your financial defenses, this episode is packed with practical advice and valuable information. Stick around as we unravel the complexities and provide clarity on securing your financial legacy.
Welcome to another empowering episode of "Wealth Guardians," the podcast dedicated to helping you navigate the complexities of financial planning and wealth management. I'm your host, Ken Ouellette, BPM Certified Portfolio Manager and founder of Oracle Wealth Management.In today's episode, we're delving into a crucial and often overlooked aspect of financial well-being - protecting seniors from financial abuse. Join us on this insightful journey where we'll explore the five key strategies to shield your loved ones and yourself from potential threats. With over three decades of experience, I'll share actionable steps and expert insights to help you build, preserve, and transfer your wealth securely.The topics covered include:* Facilitating Discussions: Starting conversations with family members about financial abuse and being aware of warning signs.* Simplifying Finances: Limiting the number of credit cards and automating bill payments to reduce exposure to potential risks.* Regular Monitoring: Subscribing to credit monitoring services, like Experian, to receive alerts about potential fraudulent activities and freezing credit when not actively seeking new credit.* Reviewing Financial Statements: Regularly reviewing bank and investment statements for any suspicious or unusual activities.* Securing Legal Documents: Keeping important legal documents, such as trusts, wills, and credit card statements, in a secure and fireproof location.* Exercising Caution in Sharing Information: Being cautious about sharing personal information and verifying the legitimacy of requests, especially when dealing with sensitive data.So, whether you're planning for retirement, supporting aging family members, or simply keen on strengthening your financial defenses, this episode is packed with practical advice and valuable information. Stick around as we unravel the complexities and provide clarity on securing your financial legacy.
30 min