10 Scams To Avoid

There are a lot of con men (and women) out there, and the unfortunate truth is that boomers and seniors often provide an easy target. Since many people are living on a reduced or fixed income, it’s even more important to protect what you have. So you can never be too careful. According to the National Council on Aging, there are ten especially common scams:

Health Care Fears

Anyone who’s ever received a "notice" from Medicare knows how unsettling it can be to figure it out. Some scammers pose as Medicare representatives in order to con you out of personal information; others even run mobile “clinics” that supposedly test you for health problems. Once they have your information, the NCOA says, they’ll bill Medicare and get money under false pretenses. If you’re at all in doubt, call 1-800-MEDICARE or visit medicare.gov.

Medication Deceptions Although it’s tempting to go on the Internet and get what’s advertised as cheap drugs, the reality is that these drugs are mostly fake—and that’s bad for your health as well as your bank account. Don’t pay for any drugs to be delivered to you other than from a reputable pharmacy that you have used before.

Funeral Schemes Accordng to the FBI, funeral homes may inflate bills by persuading you to pay for an expensive casket. Instead of automatically agreeing, ask for a list of prices for the caskets they have And if the person who died is being cremated, all that’s needed is a cardboard casket. An even more heartless scheme: Criminals look at obituaries, go to the service, and tell the closest relative of the deceased that they’ve left a debt that needs to be repaid.

Telephone Tricks Scammers may pose as a fake charity collecting “contributions” after a natural disaster. Or they could tell you that a friend or relative is in the hospital and needs cash right away. Don’t agree to either of these schemes, no matter how hard-hearted you might feel.

The Grandparents Gyp This is a variation on telephone scams. Callers will say, “Guess who this is, Grandma?” and when you say the name of one of your grandchildren, of course they’ll agree—and ask that some desperately-needed money be sent to them right away.

"Fountain Of Youth" Products From “rejuvenating” herbal supplements to “miracle” surgeries, there are hundreds of sales pitches to make us feel and look young again. Don’t get involved with anything that seems too good to be true. In the most horrific cases of anti-aging fraud, “doctors” have injected patients with fake Botox—and that has potentially fatal consequences.

Internet Solicitations Don’t ever, under any circumstances, give out any personal information – your Social Security number, your password to an account - in response to an email, even if it appears to be a website you often deal with. Reputable websites will never do that, even if the return address on the email seems to be legitimate.

Investment Frauds Planning how to invest your money is something to be done very thoughtfully, and not in response to a high-pressure sales pitch. Sadly, people often fall victim to schemes that take their money and return nothing.

Reverse Mortgage Confusion A reverse mortgage, in which homeowners 62 and older can get a loan based on the equity they have in their home, is becoming more and more attractive. But it’s easy to make a big mistake without fully understanding the process. To read more about what you need to know, visit www.ftc.gov, the website of the Federal Trade Commission.

Sweepstakes And Lottery "Victories" Scammers will tell people that they have won a big cash prize – but first, they have to put up some cash for “fees” or “taxes.” Legitimate lotteries and sweepstakes don’t work this way. Walk away if you get a “winning notice” from a lottery or contest you haven’t entered, or are asked to give some money.