People who are good with money are often very proud of their ability to know when someone is trying to sell them on a bad idea. For example, they might be proud of being able to tell when someone is trying to sell them on a bad investment. We have long known that people who are good at doing this in their younger years often fall victim to scams in their elderly years. What we have not known is why, until now.
Studies conducted at UCLA have recently shown that a section of our brain sends off signals when we see an untrustworthy face. This is how we know that someone is trying to rip us off or sell us on a scam. The studies have also shown that when we get older, this portion of the brain gets less active. It stops functioning properly. When we do not receive our normal signals that someone is untrustworthy, we see everyone as trustworthy and are no longer able to tell a scammer from an honest person.
Everyone should use this knowledge for their benefit. Talk to an estate planning attorney about how to protect your assets and yourself from the inevitable changes to your brain functions that will happen when you get older.
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