Scams targeting older adults are on the rise. In 2021, there were almost 93 thousand older victims scammed out of $1.7 billion! In a recent report from the BBB, romance scams continued to be the riskiest scams for people 55-64, other common scams include government impersonation scams, sweepstake scams, and robocall scams.
In this video, Peter Richon with Richon Planning walks through several scams with Erin Kennedy, and offers this advice:
- Watch out for phone fraud
- Research before making an investment
- Be on guard for “sweetheart” swindles
- Reach out to someone you trust
- Guard your personal information
Older adults are often targeted because of their greater financial resources. And sadly, one third of elderly people who’ve been scammed are too ashamed to tell anyone. Be vigilant. These scams are sophisticated and are designed to play to your emotions.
