Is there one born every minute?

[lunar]

Four days ago I received a phone call (international) in which a well spoken, calm sounding and pleasant natured caller began talking about commodities, in particular gas prices. He discussed some figures with me and evaluated that if I did invest in this stock I would get a very good return.
In the mean time I had an eye on my watch. It took him 8 minutes before he said "do you have £4000 to invest". He didn't even request any money now, but to think about our conversation and that he'd send me an email about the company and gains that would be made.
After I put the phone down I became uneasy and anxious. I know I will not part with four grand minimum, but I can imagine vulnerable people (older persons) may well fall for the smooth talking, friendly person on the other end of the phone.
Hence, when I am in my late sixties I think I may be wise to give power of attorney to my children in order to protect me.
Am I considering the right choice?

 

[adolf hamster]

The world is full of scammers, always has been, always will be, all the internet and mass communication has done is made them more prolific, but anyone who's led a full enough life will be smart and canny with these people.

The internet is a dangerous place but its the younger generation rather than the older generation I fear for

 

[scorza]

Sadly these people do target the vulnerable, like people with Alzheimer's. We might all find the Nigerian princes funny but the reason they make the stories so ridiculous is to filter out anyone who isn't totally gullible

 

[Jokester]

What if your kids are the type to put you in a home and then set up a trust fund for themselves?

 

[scorza]

What if your kids are the type to put you in a home and then set up a trust fund for themselves?

Should have brought them up better.

 

[SexyGreyFox]

Hence, when I am in my late sixties I think I may be wise to give power of attorney to my children in order to protect me.
Am I considering the right choice?

No because if you go by the posts on Facebook all the young uns are taken in by the most mundane stuff.

 

[SexyGreyFox]

For example I've got a Work Experience student working with me who has got his Masters in Law but he was showing me a picture of a Camel Spider and reckons it is as big as a man's leg and then showed me a picture

 

[lunar]

What if your kids are the type to put you in a home and then set up a trust fund for themselves?

I know them well enough not to do that. Besides, I suppose I could include conditions.

 

[Orionaut]

Rule #1 for Money.

NOBODY contacts "you" to do "you" a favour!

 

[Pawnless Endgame]

For example I've got a Work Experience student working with me who has got his Masters in Law but he was showing me a picture of a Camel Spider and reckons it is as big as a man's leg and then showed me a picture

Ahh, that's known as the "smart idiot".

We had one at my old work too, and incidentally, he was a work experience student / post-grad too. He drew up some CAD drawings for us, and I mean absolutely stunning work, and yet it was the same person who switched the computer off at the wall while Windows was installing a service pack. We had to re-image his machine Fortunately his portfolio was on a network drive so he didn't lose that.

 

[aardvark]

nothing to do with age, there are gullible people everywhere, always have been.

 

[SexyGreyFox]

Rule #1 for Money.

NOBODY contacts "you" to do "you" a favour!

Not true, my eldest daughter works for a bank and she helps people all day with their money problems.

 

[Orionaut]

Not true, my eldest daughter works for a bank and she helps people all day with their money problems.

By Cold Calling?

Really?

 

[Meridian]

Hence, when I am in my late sixties I think I may be wise to give power of attorney to my children in order to protect me.

OT, but giving LPA to another won't in itself protect you. The point of LPA is to enable someone else to take decisions (there are two types of LPA: financial and health) in the event that you cannot. But that person cannot over-ride your wishes. However, using LPA they can take over your bank account(s) which would make you unable to pay for anything. But they then have to deal with all your financial affairs. Everything.

 

[pooley]

Rule #1 for Money.

NOBODY contacts "you" to do "you" a favour!

Not true, my eldest daughter works for a bank and she helps people all day with their money problems.

lol good one!

 

[Teknobry]

Should have bought them up better.

corrected.

 

[lunar]

So this caller who is hoping for me to part with £4000+ does not realise I am his worst nightmare. I look but don't buy. A few weeks ago I was in westfield for nearly three hours and didn't buy a thing, except a bottle of mineral water.

 

[FurryLemon]

Blue Horseshoe loves Anaconda Steel.

 

[SexyGreyFox]

By Cold Calling?

Really?

She doesn't cold call really, these are people who are in major financial difficulties and the bank has a duty to try and help.

The Mortgage Account Manager will undertake duties in accordance with legal and regulatory rules and guidance, with agreed procedures and with due care for the customer, supporting customers who are experiencing financial difficulty in maintaining their mortgage payments, ensuring the most suitable outcome is reached for both the company and the customer.

 

[SexyGreyFox]

lol good one!

Why?
See above.