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FDIC CONSUMER NEWS | DECEMBER 11, 2023 |
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FDIC Consumer News - December 2023 Edition
Older Adults Helping Relatives Through Financial Support
Be empowered to give safely and avoid scams
Many older adults who are financially established give financial help to relatives. For example, they may help by cosigning a loan, educating younger relatives concerning money matters, or saving for a grandchild’s college expenses. Wanting to help relatives can be a generous choice; however, even in familial relationships, it is important to understand the terms of the help you are giving. It is also important to be on the lookout for scams, which may involve bad actors masquerading as family or claiming to represent family, any of which target older adults.
Read the full article for more information and resources available to you.
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