Avoid These 5 Scams Robbing your Retirement Savings

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Scammers have gotten sophisticated. Fight back!

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Avoid These 5 Scams Robbing your Retirement Savings

  1. 1. PREYING ON SENIORS: 5 COMMON PHONE SCAMS How to spot them and avoid them
  2. 2. Grandchild calls saying “it’s me.” Is out of town and needs money because of accident, theft, etc.  Asks you not to discuss with his/her parents.  Wants money to be wired. THE GRANDPARENT What it Sounds Like Red Flags
  3. 3. HOW TO AVOID Hang up and immediately call the number you have for that grandchild or his/her parents. They will be able to independently confirm if there is a real problem.
  4. 4.  Caller identifies self as officer of the court.  Claims that you missed jury duty and owe a fine that. If not paid, the police will come to your house and arrest you.  Asks money to be wired via Green Dot, Western Union, or MoneyGram JURY DUTY SCAM What it Sounds Like Red Flags
  5. 5. HOW TO AVOID • If you haven’t received notice via mail, simply hang up. • If you still aren’t sure, hang up and call your local municipality to confirm absence from jury duty.
  6. 6. Caller says you won foreign lottery. Asks you to send money to cover fees and taxes from your winnings.  Asks for your checking/savings routing and account number for “direct deposit” of winnings. LOTTERY SCAM What it Sounds Like Red Flags
  7. 7. HOW TO AVOID You are almost always best off just hanging up and forgetting all about someone claiming you’ve won a foreign lottery.
  8. 8.  Caller identifies self as IRS agent, and has telephone number that will display the call is coming from the “Internal Revenue Service”.  Says a tax balance is past due, and victim will be arrested that day if it is not paid.  Asks money to be wired via Green Dot, Western Union, or MoneyGram IRS SCAM What it Sounds Like Red Flags
  9. 9. HOW TO AVOID • Hang up immediately and call the real IRS general inquiries phone number: 1- 800-829-1040.
  10. 10.  Caller identifies self as employee of your local utility.  Claims that you missed payment and that service will be terminated without immediate payment.  May have your actual account number!  Asks money to be wired via Green Dot, Western Union, or MoneyGram UTILITY SCAM What it Sounds Like Red Flags
  11. 11. HOW TO AVOID • Hang up once you hear that the money needs to be wired via one of these three services. • Look up and call your utility provider if you are legitimately concerned about a late payment.
  12. 12. ADD TO YOUR RETIREMENT SAVINGS Instead of being fleeced, fight to make the most of your retirement savings. Start by checking out our new special free report: Take Advantage of a Little- Known IRS Rule

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