Wednesday, December 30, 2009

If It Sounds Too Good…

It never ceases to amaze me how scummy some people can be.

From Watch Out for Scams Targeting Seniors by Kathryn A. Walson:

The scams directed toward seniors run the gamut. Many con artists promise outsize returns on IRA investment products. Telemarketers hawk anti-aging products that are never delivered or are worthless.

Con artists are nothing if not creative. Take what’s known as the Grandparent Scam. State attorneys general warn that a caller may say, “It’s your favorite grandson.” The senior may respond with something like, “Is this Joe?” Then “Joe” claims he’s been in an accident or stranded and persuades the senior to wire money.

As much as you want to bolster your sagging retirement savings, remember the adage: If it’s too good to be true, it probably is.

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