{"id":4819,"date":"2015-08-10T10:24:31","date_gmt":"2015-08-10T17:24:31","guid":{"rendered":"https:\/\/americanretirementadvisors.com\/?p=4819"},"modified":"2015-08-27T11:14:41","modified_gmt":"2015-08-27T18:14:41","slug":"major-money-mistakes-to-avoid-in-retirement","status":"publish","type":"post","link":"https:\/\/americanretirementadvisors.com\/major-money-mistakes-to-avoid-in-retirement\/","title":{"rendered":"Financial Tip of The Month"},"content":{"rendered":"<h3><strong><em>Major Money Mistakes To Avoid in Retirement\u00a0\u00a0<\/em><\/strong><\/h3>\n<p>According to a MetLife survey, an estimated $3 billion a year is lost by retirees in America due to scams, fraud and financial abuse.\u00a0 After working so hard to get your finances in order for a pleasant retirement, it is so important to be aware of this statistic and do everything you can to protect yourself.\u00a0 Why do many crooks target retirees?\u00a0 This is mainly due to the assumption that retirees have large amounts of money.<\/p>\n<p>Protect yours!!!!!<\/p>\n<p>[spacer height=&#8221;20px&#8221;]<\/p>\n<h4><strong>Telephone Scams<\/strong><\/h4>\n<p><em>[spacer height=&#8221;5px&#8221;]<\/em><\/p>\n<p>Making a rule to never give any information over the phone may be one of the best things you can do to protect yourself and your finances in retirement.\u00a0 Statistics show that seniors are most likely to be convinced to give out their information over the phone.\u00a0 An example of a common telephone scam is the lottery call.\u00a0 Someone will call and say you won something but that you need to pay a small shipping cost or taxes.\u00a0 They will ask for your credit card number.\u00a0 Always say, NO!\u00a0 Never pay for anything over the phone that you haven\u2019t ordered.\u00a0 Another scheme that is easy to fall for is the jury duty phone call.\u00a0 Someone will pretend to work at the court and say you missed your appearance for jury duty.\u00a0 They will ask for your Social Security number to confirm this.\u00a0 Simply hang up the phone if you are ever questioning the legitimacy of the phone call.\u00a0 You can always look up the real court number and call to make sure it was fake.\u00a0 Make this a hard rule in your home, or even go as far as putting a sticky note on the phone reminding you and your family of your confidentiality.<\/p>\n<p>[spacer height=&#8221;20px&#8221;]<\/p>\n<h4><strong>The Grandparent Scam<\/strong><\/h4>\n<p><em>[spacer height=&#8221;5px&#8221;]<\/em><\/p>\n<p>This is an easy one for anyone to fall for.\u00a0 A person will call your home pretending to be your grandchild or family member and act like they are in some type of crisis.\u00a0 Often they will say they are stranded in a foreign country and need to be wired money.\u00a0 It is also common for the criminal to hack your family member\u2019s email account and email you the message from your family member\u2019s email address.\u00a0 If you weren\u2019t aware that this is a common scam, most people would fall for it in an emotional panic for their loved ones. This is where it pays to keep yourself informed and aware of such threats to your financial security.<\/p>\n<h4>[spacer height=&#8221;20px&#8221;]<br \/>\n<strong>Computer Scams<\/strong><\/h4>\n<p><strong>[spacer height=&#8221;5px&#8221;]<\/strong><\/p>\n<p>Computer scams are something that the majority of retirees are most fearful of.\u00a0 A types of scheme involving the computer is the \u201cphishing\u201d tactic.\u00a0 An email will arrive that says it is from the IRS regarding a tax refund.\u00a0 This would be very easy to fall into, but certainly do not give your personal information to them online.\u00a0 Many people also get caught\u00a0in this scheme by clicking on links that are included in the email.\u00a0 This may give the schemer access to your email account or files on your computer.\u00a0 Another type of computer scam involves a phone call from a person claiming to work for Mac or Microsoft.\u00a0 They may say your computer has a virus and that they can fix it by having you log into a certain website.\u00a0 This may also give them full access to your computer, and you should be cautious of this.<\/p>\n<p>[spacer height=&#8221;20px&#8221;]<\/p>\n<h4><strong>Charity Scams<\/strong><\/h4>\n<p><em>[spacer height=&#8221;5px&#8221;]<\/em><\/p>\n<p>Many scams involve fake charity organizations and target retirees because they usually have the time to listen to their \u201csad\u201d story and develop sympathy for the \u201ccharity worker.\u201d\u00a0 This scheme is particularly easy to spot because it will usually involve some sense of urgency.\u00a0 The scammer will make it sound like it is urgent to donate immediately so that you won\u2019t have time to investigate the charity to verify it\u2019s legitimacy.\u00a0 This kind of scam is especially upsetting because it is taking advantage of a retiree\u2019s compassion and generosity.\u00a0 Giving to a charity is an amazing and respectable thing to do, however, make sure to do your research first!<\/p>\n<p>[spacer height=&#8221;20px&#8221;]<\/p>\n<p>If you ever think you may be a victim of a scam, or are even slightly suspicious that you may have fallen into a scheme, there are a few things you can do.\u00a0 Notifying your bank personnel is most important.\u00a0 Bank employees are in a good position to see and handle suspicious activity in regards to your bank account.\u00a0 You can also contact APS, Adult Protective Services.\u00a0 This is a government-affiliated agency geared toward investigating reports of elderly financial abuse.\u00a0 To learn more about ADP, visit\u00a0<a href=\"http:\/\/www.azdes.gov\/\">www.azdes.gov<\/a>.\u00a0\u00a0\u00a0 In any case, you should also always alert local law enforcement.\u00a0 We all hope that these things will never occur in our lives, however, it is smart to be aware and knowledgeable about these schemes that could threaten the retirement that you\u2019ve worked so hard for.\u00a0 So keep your eyes open and educate your family and loved ones as well!<\/p>\n<p>[spacer height=&#8221;20px&#8221;]<\/p>\n<p>Brooks, Rodney. &#8220;Retirement: 7 Scams Retirees Too Often Fall for.&#8221;\u00a0USA Today. N.p., 14 Jan. 2014. Web. 16 July 2015.<\/p>\n<h3><strong><em>[spacer height=&#8221;10px&#8221;]<\/em><\/strong><\/h3>\n<p><strong><em>By Allie Vossoughi<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2015\/08\/Picture1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-4965\" src=\"https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2015\/08\/Picture1.png\" alt=\"Picture1\" width=\"142\" height=\"165\" srcset=\"https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2015\/08\/Picture1.png 386w, https:\/\/americanretirementadvisors.com\/wp-content\/uploads\/2015\/08\/Picture1-258x300.png 258w\" sizes=\"(max-width: 142px) 100vw, 142px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Money Mistakes To Avoid in Retirement\u00a0\u00a0 According to a MetLife survey, an estimated $3 billion a year is lost by retirees in America due to scams, fraud and financial abuse.\u00a0 After working so hard to get your finances in order for a pleasant retirement, it is so important to be aware of this statistic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,15],"tags":[],"class_list":["post-4819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement-planning","category-savings"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>American Retirement Advisors 800-568-1095 Expert Advice<\/title>\n<meta name=\"description\" content=\"American Retirement Advisors, David P. 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