Practical Strategies for Protecting Retirees Against Scams & Fraud

As much as any other threat, recognizing and avoiding scams has become a necessary skill for today’s retirees to develop. In today’s episode, we’ll share a story of how a scam destroyed a woman’s entire retirement savings. Then, we’ll explore some crucial steps you can take to safeguard your financial well-being against the growing tide of scams and identity theft. 

Here’s some of what we discuss in this episode:

• Marjorie Blum’s scamming story + the threat of scams for Americans over 60
• Phishing, vishing, and smishing techniques that are used today
• Some red flags to look out for when it comes to scams
• Protections you can put in place to protect your finances, like strong passwords and two-factor authentication 

Resources for this episode:

How this 77-year-old widow lost $661,000 in a common tech scam: ‘I realized I had been defrauded of everything’ - 

https://www.cnbc.com/2023/10/08/how-one-retired-woman-lost-her-life-savings-in-a-common-elder-fraud-scheme.html

 

Fraudsters targeting senior citizens with multiple financial scams – 

https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/senior-citizens-financial-scams/

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Investment Advisory Services offered through Brookstone Capital Management, LLC (BCM) a Registered Investment Advisor. Cravitz Financial & Insurance Solutions are independent of each other. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional. Ryan Cravitz and Cravitz Financial & Insurance Solutions are not affiliated with or endorsed by the Social Security administration or any other government agency.