- Wealth. Senior citizens have had four, five, or perhaps even six decades to accumulate financial assets. As Willie Sutton famously said, he robbed banks because that's where the money is, and scammers defraud seniors for the very same reason.
- Financial insecurity. Conversely, not all older Americans are well off, or as well off as they would like to be. Case in point: My father, who was afraid of outliving his money in part because his retirement fund went bankrupt.
- Loss of mental acuity. As we age our thinking tends not to be as sharp as it once was, and it has recently been theorized that changes in the aging brain - specifically changes in the medial temporal lobe and ventromedial prefrontal cortex - may make elderly people particularly susceptible to scams and other financial swindles.
- Innocence. Over the course of their lifetimes most elders have seen everything under the sun. Many, however, have not seen everything 'in the dark' and come from a more innocent time and place.
- Ignorance. Given their innocence, many seniors are consequently unaware of the games fraudsters play and how they play them.
- Optimism. It is generally accepted that optimists like my dad tend to live longer than pessimists. The downside is that under the right circumstances their optimism can cause them to deny that they have been scammed, and see the glass half full when in fact it is empty.
- Respect for authority figures. Unlike the Baby Boomers, my father's generation was brought up to not to question authority or those who claim to possess it.
- Isolation. Most senior citizens want to continue living in their homes as long as they can, and we want them to as long as it does not pose a danger to their health or safety. Independence can devolve into isolation, however, following the death of a spouse, a loss in mobility, or some other event that reduces their contact with family members and friends.
- Lack of stimulation. Removed from others and the outside world, some isolated elders live in emotional deserts devoid of anticipation or excitement.
- Benevolence. Regardless of their financial situation, most seniors want to help their loved ones and leave a legacy. My dad was no exception, as on more than one occasion he declared his intention to share his winnings with his family and church.
If it isn't clear already, I hope this list will at least give you a sense of how neatly these vulnerabilities dovetail with the Five Cornerstones, particularly the cornerstones of confidence, greed, and secrecy, which I will discuss in more detail later on.
