Most of us probably like to think that our particular generation won't be so naive when we are old. There might be some truth to the notion that our 55+ population is an easier target than most because they have been culturally conditioned to be more trusting. Society on the whole is probably meaner that it used to be. However, it should be obvious to us that senility will be inevitable to many of us as we age. The idea that I or a family member could become so easily victimized in their twilight years is terrifying.
Is it possible to protect one's self by objectively measuring your own intelligence? ie Once your score drops below a certain level you automatically relinquish control of your finances (voluntarily or forcefully) to a predetermined trustee or investment algorithm?