More and more seniors are deciding to stay at home rather than retire to an assisted living facility. Unfortunately, along with this growing number of stay-at-home seniors comes a growing number of frauds and scams with seniors as the main victims.
According to the FBI, seniors are a common target for scams as they are more forgetful, more trusting, and tend to have more money saved.
These scams come in various forms from health insurance and investment schemes to “family phone calls” asking for loans.
Protect yourself and your aging loved ones from scams by keeping these tips in mind:
- Avoid paying for services in advance
- Never reveal private information (account numbers, social security numbers) over the phone or internet
- Shop around before making a big purchase
- Research investment plans or insurance companies before a purchase
- Do not sign anything you do not fully understand
- Be cautious of sweepstakes and prizes
- Follow the news for trending scams
- When in doubt call the police
And always remember that it is better to be safe than sorry, so don’t hesitate to take action and report potential scams or situations that make you feel uncomfortable.