Thursday, August 17, 2017

3 Important Tips To Avoid Scams Targeting Seniors

Anyone who’s retired knows how important maintaining your nest egg is. 

You want to be able to comfortably live off the distributions from the money you worked so hard to earn throughout your life. Unfortunately, scammers are also aware that seniors are financially stable compared to the rest of the population, which makes them a target. 20% of Americans age 65 and up have been defrauded financially. Bearing this in mind, it’s of the utmost importance to be aware of how to recognize and avoid scams, whether you’re a senior or a caregiver providing for a senior.

Tip 1: A member of government or the IRS will never ask you to reveal personal information over the phone

One of the most common scam tactics is to impersonate a government official. These scammers will call seniors and demand that they reveal personal information like their social security number (SSN), because of some false charge of tax fraud or some other made up crime.

Tip 2: An email claiming you won money and asking for financial information to send you the winnings should be an immediate red flag

This type of scam is called “phishing” and can take