One of the main roles of government is wealth redistribution. In the U.S., the single largest group to benefit from wealth redistribution is the elderly; however, Fortune cites a paper from the Brookings Institute, stating that the elderly are one of the two groups that “have most moved against income redistribution” since 1978. The study claims that on the surface 40% of this is actual in their self-interest (being unconvinced that things like universal healthcare won’t disrupt Medicare) — but that still leaves 60% of the vote going against their self interest. Perhaps the elderly are just a little more altruistic than the rest of the population.
That’s not one in ten around the world — that’s one in ten right here in the U.S.A. And it’s not acceptable. Worse, signs of such abuse in senior citizens can be very hard to notice. It’s not all cuts and bruises; senior abuse can be subtle, and may be something other than physical abuse. There may be emotional, financial, or other less obvious abuse occurring. The Neighborhood Extra provides some insights into what to look for, and what to do if you suspect something. Make sure the elders you care about — and even ones you may just meet casually — are getting the respect and treatment they deserve.
Texas Tech University recently published some research that you’ll have to go to the UK papers to read, but is just as important for elderly Americans. Anyone who follows investment news knows that amateur investors are notorious for buying at high points and selling at low — the exact opposite of the desired outcome. But new research shows that the elderly can be particularly susceptible to these sorts of emotional errors; particularly those who have a decreasing capacity to solve logic problems. “Just as when people get older they tend to become less capable of walking up steps or driving a car, the same goes for managing a pension.”