15 Ways to Prevent Financial Exploitation with Cameron Huddleston
Talking to our aging parents about their finances can be a tough conversation. But there are ways to educate and protect our parents from being taken advantage of by scammers, charities, and other organizations without being seen as controlling or overstepping. Today’s guest is Cameron Huddleston. Cameron is an author, speaker, and award-winning financial journalist. She’s the Director of Education and Content at Careful, the first service built to protect and monitor aging adults’ daily finances. Cameron’s work has appeared in a number of publications including Forbes and The Chicago Tribune. Show Notes: [1:09] - Cameron described the experience of caring for her mother with alzheimers. She had not had a conversation with her about her finances. [2:37] - Talking to your parents about scammers is a way to open the door to more conversation about finances. [5:13] - Warn your parents about red flags because there’s no way you can keep them updated on every single scam. [6:29] - As we age, we all experience some level of cognitive decline. [7:38] - Get an idea of how they are doing now so that you will be more aware of changes. [8:56] - You’re not trying to pry or be nosey. This is a series of conversations that open the door to communication about finances for the future. [10:00] - Older adults are more likely to be exploited by someone they know. [11:10] - Nothing has to happen right now except the beginnings of conversations. Cameron lists some things to have in order later. [13:07] - There are things you can do to help prevent a caretaker from taking advantage of your parents. [14:35] - There are some red flags to listen for in conversations with your aging parents and/or their caretaker. [15:43] - If you are concerned about your parent’s credit or finances, you can have their credit frozen and you can monitor everything for safety. [16:58] - Your parents can also sign up for services while they are healthy and add you to the monitoring account for notifications. [18:39] - Cameron shares an experience with her own mother. She was a giving person but with her alzheimers, she wound up donating money frequently. [19:51] - How can you help them get the spending on charity donations under control? [22:21] - One piece of advice for parents is to let all calls go to voicemail and don’t call the numbers they called from. [24:21] - Chris describes an unusual and suspicious new text scam. How can we warn parents about the things that are out of the norm? [27:00] - If you have a parent with dementia, these warnings won’t always do much good. Leave notes and reminders for them. [28:26] - Cameron describes a situation with her mother and she realized that she was no longer safe to live alone. [31:09] - There are a lot of things that parents can have in place in writing while they are relatively young and healthy. [32:33] - Cameron has a lot of great resources on her website CameronHuddleston.com. Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review. Links and Resources: Podcast Web Page Facebook Page whatismyipaddress.com Easy Prey on Instagram Easy Prey on Twitter Easy Prey on LinkedIn Easy Prey on YouTube Easy Prey on Pinterest Carefull Website Cameron Huddleston’s Website
Cameron Huddleston: Talk to Your Parents About Their Finances
The Long View
Background BioMom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances, by Cameron HuddlestonCarefullTalking to Parents and Kids About Money“Why I Wrote ‘Mom and Dad, We Need to Talk,’” by Cameron Huddleston, cameronhuddleston.com, June 19, 2019.“What I Teach My Kids About Money,” by Cameron Huddleston, cameronhuddleston.com, July 10, 2019.“Why You Should Talk to Your Adult Children About Your Finances,” by Cameron Huddleston, getcarefull.com, July 29, 2022.“Protect Aging Parents by Auditing Their Wallets,” by Cameron Huddleston, getcarefull.com, Aug. 19, 2022.“Financial Signs of Alzheimer’s Disease and Dementia,” by Cameron Huddleston, getcarefull.com, July 6, 2022.“How Financial Advisors Are Becoming Financial Caregivers,” by Cameron Huddleston, thinkadvisor.com, June 18, 2021.“How to Help Your Parents Hire a Financial Advisor,” by Cameron Huddleston, getcarefull.com, June 9, 2022.Estate Planning“Estate Planning for Aging Parents: It’s Never Too Late,” by Peter Lauria, thebalance.com, Aug. 15, 2022.“Why You Need a Living Will Now More Than Ever,” by Cameron Huddleston, cameronhuddelston.com, April 23, 2020.“Why You Need a Will or Trust,” by Cameron Huddleston, getcarefull.com, Dec. 7, 2021.Cognitive Decline and Long-Term Care“6 Signs Your Parents Need Help With Their Finances,” by Cameron Huddleston, getcarefull.com, Nov. 8, 2021.“Your Parent Was Diagnosed With Alzheimer’s. Now What?” by Cameron Huddleston, getcarefull.com, June 9, 2022.“How Hybrid Life Insurance Pays for Long-Term Care,” by Cameron Huddleston, forbes.com, July 26, 2022.“How Your Risk of Financial Exploitation Increases As You Age,” by Cameron Huddleston, security.naifa.org, Feb. 3, 2022.“What to Know About the Different Types of Long-Term Care,” by Cameron Huddleston, getcarefull.com, June 9, 2022.“How to Talk to Your Parents About Long-Term Care,” by Cameron Huddleston, June 9, 2022.“Financial Risks That Make It Difficult to Age in Place,” by Cameron Huddleston, getcarefull.com, Aug. 26, 2022.“How Financial Care Is Part of Aging in Place,” by Cameron Huddleston, getcarefull.com, Aug. 15, 2022.Financial Fraud“How Your Risk of Financial Exploitation Increases as You Age,” by Cameron Huddleston, security.naifa.org, March 29, 2022.“How to Guard Against Elder Fraud,” by Cameron Huddleston, getcarefull.com, June 9, 2022.
Money Talks with Your Parents with Cameron Huddleston
Mindful Millionaire with Leisa Peterson
Today I am interviewing Cameron Huddleston about making sure that we’re prepared to have important conversations with our parents about financial planning later in life. What we can do to help them prepare for a smoother transition and how can we support them better. Cameron has written the book, Mom and Dad, We Need to Talk. I love how committed she is to making a difference in the world and to making this transition easier for families. I know you’ll love this conversation and please, please, please take heed and do what she’s suggesting. Enjoy. She shared this – “…And so having these conversations with your parents while they’re young and healthy, so that they can look, explore those options so that they can meet with a planner if necessary to come up with a plan to pay for long-term care, or so that they can tell you, look, we’re counting on you, to help care for us. Well, then you might need to make some changes in your own financial situation. It might mean, you know, getting a side hustle now so that you can save up extra money in case you have to stop working, it might mean talking to your siblings and saying, Hey, Mom and Dad are counting on us to care for them. I have an idea. We can afford if we chip in together to buy them a long-term care insurance policy. So let’s do that. Let’s get them long-term care insurance to help cover the cost of care because I can’t quit my job. And you might not be able to quit your job either because you’ve got kids to support. So like I said, having these conversations is going to allow you to create a plan…” Cameron Huddleston is the author of “Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances”. She also is an award-winning journalist with 20 years of experience writing about personal finance. Her work has appeared in Forbes, Kiplinger’s Personal Finance, Chicago Tribune, MSN, Yahoo and many, more print and online publications. U.S. News & World Report named her one of the top personal finance experts to follow on Twitter, and AOL Daily Finance named her one of the top 20 personal finance influencers to follow on Twitter. She has appeared on CNBC, MSNBC, CNN and “Fox & Friends” and has been a guest on ABC News Radio, Wall Street Journal Radio, NPR and more than 30 podcasts. She also has been interviewed and quoted as an expert in The New York Times, Chicago Tribune, BBC.com, MarketWatch and more. Cameron has an MA in Economic Journalism from American University and BA in Journalism and Russian studies from Washington & Lee University. Learn more about Cameron: https://cameronhuddleston.com/ https://www.facebook.com/CameronHuddlestonMoneyExpert/ https://www.linkedin.com/in/cameron-huddleston-187b633/ Twitter: @CHLebedinsky
Show Notes :45 - Intro 1:05 - Cameron shares stories with us about her parents and family. How she came about moving back home and was able to catch changes she saw in her mom. 2:30 - The signs of Alzheimers Cameron began seeing with her mom. 4:07 Her experiences and how she included her mom's Dr and had her tested for Alzheimers. 4:43 Cameron’s mom had a friend that suggested she get tested for Alzheimers that ultimately diagnosed her at 65. 5:08 How it feels, as a caregiver and child, to receive the Alzheimers diagnosis for a parent. 5:31 Cameron describes what legal documents she knew she needed to set up so she could help her mom in the future when she needed it. 6:00 Cameron describes how her mom’s Alzheimers progressed. The support she set up for her mom while she still lived on her own. 7:00 Protecting her mom from financial scams and realizing it was time for her mom to move in with her. 7:40 Cameron sets up services and support for her mom to help her care for her and still be able to parent her children and continue to work. 8:00 Cameron shares how she worked to balance caregiving along with everything else in life she was responsible for. 9:00 Benefits of having mom stay at home with them as well as difficulties. 9:45 The effect of the stress of caregiving and realizing that she couldn’t give her mom the care that she needed. 10:23 Memory care. 11:00 Cameron shares how she prepared herself for the inevitable challenges and outcome of her mother having Alzheimers 12:24 The different phases and change in roles for Cameron and her mother. 14:25 Parental/ child role reversal. Taking care of her parent and the difficulties that role created. 15:30 How memory care allowed Cameron to focus on being her daughter. 16:00 The work Cameron did as a caregiver while her mom was in memory care. 17:20 The benefits of having outside help with a family member who has Alzheimers. 19:00 Different ways of caregiving and how everyone has to make it work the way it should for their family. 20:00 Cameron tells us how great it was to move her mother closer to home and recounts the happy moments her children had with their grandmother. 22:17 Early 2019 Cameron’s mother is diagnosed with cancer. She shares the difficulties of having to help hospital personnel with her mother. 28:00 Cameron gets another call from her mother’s facility. She needs to be checked for recurring cancer but if she leaves she has to quarantine for 10 days before going back to the facility. Cameron found a facility her mom could quarantine in. 29:00 Cameron describes how covid policies created more difficulties for her and in getting her mom to the hospital for a biopsy. 30:00 Cameron finds out her mom’s cancer is back and has spread to a lymph node. She realizes that the treatments available would be impossible due to her mom’s progressed Alzheimers and Demntia. 31:15 Cameron, her family, and Dr decide that treatments would not be beneficial and the Dr gets her mom’s facility to take her back instead of having her quarantine in a different facility due to the fact that she had a negative covid test. 31:45 Cameron realizes that when she drops her mom off at the facility with terminal cancer she wound not be allowed in to visit her. 32:10 Mom’s facility allows visiting in the late summer. Her mother doesn’t realize Cameron came for visits because of masking and distancing. 33:09 Covid causes her facility to close again and in December 2020 covid cases started showing up in her mother’s facility. She is told if her mom tests positive for covid she would have to quarantine in a different facility. 34:00 Cameron starts planning for what she would do if her mom needed to quarantine and coordinated with hospice just in case. 35:25 Cameron’s mom gets her first vaccine and had stopped eating and drinking much and is ready to go into a hospice facility. 35:54 Three days later her mom tested positive for covid and the hospice facility wouldn’t allow her in. 36:23 Cameron makes the difficult decision to bring her mother home with just a few hours to set things up for her mother. 36:50 Hospice brings everything needed over to Cameron’s house. Her family moves to different parts of the house before she brought her mother home. 37:00 Cameron sees her mom for the first time in a couple of months and is surprised at her decline. She shares the difficulties in getting her into the house on her own. 38:32 Cameron cares for her mom while she has covid, in her home with very minimal help. 39:29 Cameron describes the last days with her mom. 40:43 Cameron realizes she needs more help and has her sister come to assist her. 41:00 Caring for her mom during her last days with the limitations caused by covid. 41:47 Cameron shares how she wasn’t prepared to watch her mom struggle with pain and to watch her die. 42:09 You can’t be emotionally prepared for the death of a loved one. 43:00 Cameron's experience with being with her mother when she passed. How she had to deal with the loss on her own because she had to quarantine after her mom’s death. 45:00 The trauma that Cameron lives with after experiencing her mother’s death. 46:00 Shares one of the last tender moments before her mom’s death. 48:54 Discussing the end of life. The importance of sharing our experiences so people can learn more about what they can expect. 51:08 Cameron’s recommendations for other caregivers 53:45 Recap Learn more about Cameron and find caregiver support at www.loveyourcaregivinglife.com
Mom and Dad, We Need to Talk: Money and End-of-Life Care with Cameron Huddleston
You Need A Budget (YNAB)
Award winning author and personal finance journalist Cameron Huddleston joins the show to discuss the uncomfortable realities of managing parents' finances through end of life care and after their death. From wills, power of attorney documents, to simply knowing where your parents have all their bank accounts, Cameron offers some practical advice on what things you need to look out for when helping your older family members manage their finances. Of course, personal finance is a, well, personal thing for many people, and parents may be reluctant to share the details of their money. Cameron offers some tips for breaking the ice on money conversations, and how to approach parents and loved ones respectfully. You can find more about Cameron Huddleston and her book, Mom and Dad, We Need to Talk, at her website: https://cameronhuddleston.com Carefull app: https://www.getcarefull.com/
Why You Should Monitor Your Aging Parents’ Finances And How To Do It (with Special Guest Cameron Huddleston)
Your Retirement Playbook
If your parents are starting to show signs that they're not as on top of their finances as they used to be, how can you get more involved without looking like you're trying to come in and take over? Expert Cameron Huddleston will join us as she discusses her book, “Mom and Dad, We Need to Talk.” Connect with Financial Enhancement Group: Visit our Facebook page at www.Facebook.com/FinancialEnhancementGroup Join our Facebook Group at www.yourlifeafterwork.com/FinancialTidbits Visit our website at www.yourlifeafterwork.com We would love to answer your questions on air! Give us a call at 800-928-4001 or send them to TalkToFEG@yourlifeafterwork.com
Have you noticed how organized your parents used to be? Or maybe you see that they have stopped taking care of themselves physically when you see them in-person or via FaceTime or Zoom. If so, it may be time that you have a conversation with your parents about their health and financial well-being. Cameron Huddleston, a mom of three awesome kids, was also a caregiver for her own mom, who had Alzheimer's disease. "It was a stressful situation I wouldn't wish on anybody, but it gave me great insight into how financially devastating Alzheimer's and dementia can be." It made Cameron realize how important it is for adult children to have conversations with their parents about their finances before a health issue or other emergency leaves their parents unable to manage their finances independently. Her situation moved her to write the book, Mom and Dad, we need to talk; how to have essential conversation with your parents about their finances. One way to spark a conversation with parents is to ask them for advice regarding financial matters. Cameron noted that this approach could ease fears and tensions around taking the first steps to determine how you may be able to help. Please enjoy my conversation with Cameron Huddleston. For show notes and resources discussed in this episode, visit https://tammacapital.com/37-how-to-talk-to-your-parents-about-finances/. For more episodes, go to tammacapital.com/podcast. Follow Paul on Facebook and LinkedIn. And feel free to email Paul at email@example.com with any feedback, questions, or ideas for future guests and topics.
Fun Things to Do in Kentucky for Adults, Kids (or Both) w/ Cameron Huddleston
The Everyday Bucket List Podcast
#27 Heading to Kentucky and need some unique ideas to add to your bucket list? Find super fun things to do for adults or kids of all ages. Listen in about the Corvette Museum, The Kentucky Derby, The Bourbon Trail and the different geological attractions such as Mammoth Cave National Park, Red River Gorge, Cumberland Falls, rock climbing adventures and much more with local Cameron Huddleston. Click the link below or you can copy and paste it into the browser. Show Notes: https://karencordaway.com/things-to-do-in-kentucky-for-kids/
CFFP #02 - Using Media to Boost Your Personal Brand Ft. Cameron Huddleston
Conversations for Financial Professionals
Today I have Cameron Huddleston, an award-winning journalist with nearly 20 years of experience writing about personal finance. Cameron’s work has been featured in such publications as Forbes, Kiplinger, and the Chicago Tribune. Cameron is also a recent author of the book: “Mom and Dad, We Need to Talk - How To Have Essential Conversations With Your Parents About Their Finances”. During the show today, Cameron touches on some of the new challenges faced by financial professionals in light of the pandemic. We’ll also discuss some myths about using media to boost your personal brand. Cameron also shares some strategies and tools that financial professionals can use such as HARO (Help a Reporter Out) to become a reliable successful source to the media in your industry. Finally, Cameron shares her own story as an example of ‘personal stories’ can be used to enhance your brand.Enjoy the episode! Show Highlights: How has the pandemic helped shape the financial industry bringing it into the virtual environment (4:47) Does having a virtual meeting have a level of intimacy lost instead of meeting face to face (10:55) Cameron discusses how the younger generation has developed texting as a language (13:22) Cameron disputes the fact that it costs to get quoted by the media, and how to do it at no cost (15:07) How HARO can help you get quoted by the media for free - all it takes is your time (19:20) Cameron’s top 3 tips on how to submit a tip to the media and using social media platforms to expand your outreach (22:35) Cameron’s thoughts on having your own blog (27:53) Cameron’s advice on how not to get overwhelmed and where to focus, where to boost the blog and how to get it recognized (30:03) Cameron discusses her book and her personal story behind it (36:08) Being yourself and being personable and how that helps you connect with your clients (44:33) Resources:Read the blog. If you'd like to connect with Cameron, click here. To check out Cameron’s book on Amazon, click here. Are you a current or aspiring financial professional? Click here to receive tools that will help you become a next-generation financial professional! Watch a video clip of this episode on our YouTube channel by clicking here. To receive a newsletter digest of Jumpstart community happenings, click here. Subscribe to the podcast by clicking here. Want to connect with me? Join my exclusive “tribe” by clicking here. Thanks again for listening, reading, and watching!
Episode 95: “Mom and Dad, We Need to Talk” Interview with Cameron Huddleston.
Retirement Rescue Radio
Cameron and Nate discuss the need to have difficult conversations with aging parents, covering topics ranging from who is going to take care of them if they need any long-term care, to how to avoid financial scams. Key Takeaways: Memory loss and retirement Power of Attorney Long term care Trusts How to start a conversation with your parents about money Health care proxy Phishing