Family Finance: Investment scams target seniors « Artesia News

Family Finance: Investment scams target seniors « Artesia News
By Donna J.Jodhan

We are living in a world of mistrust; a world where mistrust is multiplying twofold and threefold on a daily basis because of so many factors. Scams and schemes seem to be getting out of control and scammers and schemers are literally coming out of the woodwork.

For our aging boomers, retirees, and seniors, this is becoming not just a concern, it is a real fear. Who can they trust? It used to be that many of us would be more than a bit willing to trust our peers but sadly, no more. In so many cases, we can’t even seem to trust our friends and our families. We are afraid to speak to zealous customers reps by phone, and we don’t even seem able to fully trust our financial institutions.

Scammers and schemers know only too well how much boomers, retirees, and seniors, are committed to making sure that they leave a little something for their loved ones; be it a legacy, a huge nest egg, or just a little some thing and this is what they are using to help them craft their devious traps. We all have to become more cautious in our approaches to trust and truth and I am going to leave you with an excellent reference below to check out.

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Family Finance: Investment scams target seniors « Artesia News
By admin
The problem is going to get worse as baby boomers age, she said, adding that one new twist is that many of the newest hucksters are also elderly. “The people who are vulnerable can’t even trust people who are their own age,” Crawford said. And it’s not just criminal schemes that can cost. … With market performance weak and interest rates even weaker, retirees concerned about running out of money or leaving a legacy for their families may be more susceptible than ever. …
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I’m Donna J. Jodhan wishing you a terrific day and week.
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