As the Wired writer in my family, I often fill a tech support role. When relatives want to know what phone to buy or why the Wi-Fi in the back room sucks, they ask me. I recently discovered that an elderly family member was paying more than twice as much as me every month for Internet service that was 30 times slower. After investigating, I found out that they were paying way more than the odds for mobile data as well. Even though I got four times the data, the same carrier charged me significantly more. My relatives had no idea they were getting a bad deal and they were reluctant to call, partly because of previous negative experiences and partly because they had trouble hearing properly on the phone.
For most people, finding the best deal means wading through a minefield filled with attractive introductory offers and temptations. But choosing to do nothing often means paying more. Anyone who lacks the digital skills or the willpower to shop around will be ripped off. At the risk of sounding like Jimmy Stewart, “What happened to basic decency?” Over-selling is commonplace, loyalty is punished rather than rewarded, and the elderly and vulnerable bear the brunt of this cynical exploitation . If you have a relative who is lucky enough to have you, here are some ways you can help.
short change
I remembered my late grandfather’s troubles. Utility companies knocked on his door, exploiting his loneliness to convince him to switch suppliers every few weeks. He had no idea he was charging an early termination fee each time. The practice was such a big problem in the UK that government regulators had to step in and introduce a mandatory cooling-off period. Sadly, predatory marketing calls targeting seniors remain a major scourge.
After checking this topic with some other families, I discovered that a frail relative currently undergoing cancer treatment was charged a large sum of money for a TV package that she never used (including extremely expensive live sporting events). She tried multiple times to cancel over the phone but was denied. The Federal Trade Commission is currently working to make it easier to cancel subscriptions, but cable companies are resisting.
Another relative called me at a big box store and was panicked because the salesperson was being aggressive about an overpriced laptop. It was totally inappropriate for his needs, contrary to what they told him.That is forward They tried to sell him an extended warranty that was useless.
It’s worth mentioning that every relative I interviewed also had a story about trying to scam someone in person, over the phone, or even through snail mail. Their inboxes are flooded with phishing emails. According to reports, more than $8 billion is stolen from people aged 60 and older each year in the United States alone. Sadly, many scams and thefts go unreported. The report from the American Association of Retired Persons (AARP) suggests the true cost could be as high as $28 billion.
lend a helping hand
As targets of scams and ethically questionable business practices, what can we do to help our elderly and vulnerable populations? I spoke with Dr. Genevieve Waterman of the National Council on Aging (NCOA), an expert on financial education for older adults. She’s quick to point out that aggressive salespeople often use the same tactics as scammers, creating a false sense of urgency to secure a signature or sale.
To start helping your loved one, you may need to address some tough conversation issues. Some people find it difficult to accept help, prefer to keep their finances private, or feel influenced by advice. Start by letting them know they can ask you if they want, but be careful not to judge if they open up. If you can get into the habit of openly discussing things like this, life will become easier later on. This works best if it’s a two-way street, so share your concerns and ask for advice rather than just giving advice. After all, it’s not just the elderly who are being scammed.