If I may, I'll go first.
It sounds really simple, but it's not so simple. I think more education is absolutely required, but it's about more than just saying that we need education. We need to tell people what needs to be done and teach people how to have these conversations in their homes.
My parents live in a different country, Poland. They're 71 and 73. I work in the business, and I have a very difficult time holding conversations with them about their financial situation. I don't know how much money they have or who their trusted advisers are.
In terms of an education program, I think we also need to guide people on how to have these discussions. We need to have community programs so that people don't feel isolated at home and so that they know there are additional people they can talk to. We need to tell people who to talk to if they're nervous or if something is going on—to go to the bank, a priest, or a doctor, for instance. They need to know what the first line of defence is.
It's not just a question of telling people that they need to have these conversations. They need to have practical guidelines or “go to” strategies so that they know what to do if a nephew or a grandson shows up and pressures them to write a cheque for $10,000. They need to be prepared to say, “I don't know where my chequebook is. Can you come back next week?” Then in the meantime they can remedy the situation.
This education can occur maybe through workshops in libraries or other supports in smaller communities. When someone you're depending on is pressuring you for money, it's really hard to say no, because they will also threaten you with withholding visits or not helping with basic tasks. I'm sure you see this all the time.
We're in a business in which all of our clients have homes, but I don't think this is an issue of whether you have a home or not. If you have a home and you have a lot of equity, there may be many people who are interested in your money, but even if you have very little money, there may still be people who will want your last penny.
I think very practical programs, then, would make most sense.