Thank you to all of those who joined us for Money Smart for Older Adults. Financial exploitation is a widespread problem that can affect us all, especially the elderly and retired individuals. Whether it be investment scams, charity shams, IRS frauds, or at the hands of a trusted family member or caregiver, billions of dollars are lost every year to exploitation.
One of the best ways to protect yourself from financial exploitation is to ensure that only people and institutions you trust have access to your financial and personal information, as well as your finances and assets. If you are contacted online or on the phone from anyone claiming to be from a financial institution, a lottery or sweepstakes, the IRS, or a debt collection agency, never give out your personal or financial information, nor send any money, without first verifying the legitimacy of the institution or organization, the caller, and the nature of the call or email. An easy way to determine if you are being scammed is to ask a lot of questions; scammers will have a hard time answering your questions or even refuse to answer them, which any legitimate organization or institution would be happy to do.
To review everything that was covered in Money Smart for Older Adults, including organizations, websites, and phone numbers to contact in the event of any attempt at financial exploitation, please download the Money Smart for Older Adults Resource Guide.