STOP DONATING TO SCAMMERS HOW TO SPOT FRAUD THIS HOLIDAY SEASON
During the season of giving, charities receive a much-needed rush of donations as people open their hearts to others. Unfortunately, criminals are all too willing to abuse this goodwill. According to a report from the Justice Department, Americans over the age of 60 lose over $3 billion a year to scams and fraudsters. As charity scams reach their peak, here’s what you need to do to ensure your donations aren’t lining the pockets of criminals.
Because it’s impossible to determine who is on the other end of a call or email, you should never hand over your credit card information to strangers. If you really are speaking to a representative from a legitimate charity, they will direct you to a secure avenue where you can give without worry. A lot of charities set goals they want to reach before the new year, but even groups that are hoping to raise a certain amount of money know better than to pressure donors into giving. Donations should always come from the heart, and it’s a bad sign if someone insists there’s a deadline for giving. As the Better Business Bureau says, “Responsible FEELING PRESSURED? WALK AWAY.
organizations will welcome your gift tomorrow as much as they do today.”
ONLY GIVE TO REPUTABLE CHARITIES.
Do some research before donating to charities. Look up any prospective charity on Charity Navigator at CharityNavigator. org. This service flags “high concern” organizations suspected of fraud and ranks how reliable established charities are. Even legitimate organizations can be misleading about how they spend their donations. A good rule of thumb is to avoid organizations that spend more than 25 percent of donations on salaries or administrative costs.
NEVER GIVE BY PHONE OR EMAIL.
Charities regularly reach out to past and potential donors through traditional mail, email, phone calls, or text messages. This means fraudsters will mimic their approach with less noble intentions.
There are many amazing charities and organizations that do good work. Stay
WHEN THE MARKET FEELS LIKE AN AMUSEMENT PARK HOW SMART GOALS HELP ASSUAGE FEAR
People tend to think of this time of year as an opportunity to re-evaluate their life goals and aspirations. For example, they might make resolutions to lead better lives, spend more time with their families, start a new diet, or work on their fitness. When it comes to financial investments at the end of 2018, sitting back and watching the market might feel like a roller coaster ride. Riding the investment roller coaster can be scary, especially when the market takes big dips or makes drastic loops, but take it from us here at Patriot Wealth Management; the only way you can get seriously hurt is if you jump off completely. Just like any life goal, it’s necessary to focus on the long term in order to reach any kind of success. While it’s imperative to make yourself aware of potential pitfalls on your voyage to reach that goal, if you only focus on the negative aspects, your objective will move further and further away. The same is true with investing. If you let the fear of market drops control your investment strategies this upcoming year, you won’t reach any of the financial goals that you set for yourself.
A great tool to help set up realistic and successful financial aspirations is the SMART acronym. Setting SMART goals means that you can clarify your ideas, focus your efforts, and use your time and resources productively. To make your goals clear and reachable, each one should be:
S pecific M easurable A chievable R elevant T imely
The two most important services a wealth manager can provide is helping you set SMART goals and then serving as your accountability partner when the market starts to feel like a roller coaster ride. They can keep your eyes focused on creating more purposeful and reasonable objectives rather than letting you bow out due to fear of market volatility. If you’re ready to build a collaborative relationship with a wealth manager who is committed to helping you achieve your goals, reach out to us today.
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