RING, RING — IT’S A ROBOT WHAT YOU CAN DO TO PROTECT YOURSELF FROM PHONE SCAMS AND ROBOCALLS
Two of the most common scams are phone scams and robocalls. These calls are incredibly annoying and can trick you out of valuable information if you’re not careful. While it might seem like these scams are inescapable, there are some precautions you can take to avoid their traps. GIVE THEM THE SILENT TREATMENT. One thing you can do to avoid these fraudulent, time-wasting calls is to simply hang up. If possible, it is best to not answer at all. It’s always good to have a list of numbers you can reference, so you never have to guess who is calling. Think of it as going one step beyond caller ID. In some cases, answering and then hanging up can actually do more harm than good. Answering the phone gives
the scammers confirmation that the number works and that they should try again. Once your number is confirmed as active, it often gets put on an “active number” list that can then be sold to other scammers who market in these types of phone numbers. If you can’t verify who is calling without picking up, don’t answer. Let it go to voicemail. If it’s important, the person will leave a legitimate message and you can respond afterward. PUT UP SOME DETERRENTS. You can even go a step further and block the calls. Many phone service providers ofer call-blocking options, including AT&T, Sprint, T-Mobile, and Verizon. You can sign up for this service in-store or on your service provider’s website. Each service costs about $4 per month. There are also a number of call-
blocking apps available on Android and Apple devices, but if you subscribe to a blocking service through your phone provider, these apps are unnecessary. Finally, you can sign up for the Federal Trade Commission’s “Do Not Call” program (DoNotCall.gov). While the Do Not Call program can help cut back on calls, this list is largely ignored by scammers. If you’re getting a ridiculous number of robocalls every day, signing up can ofer you some brief respite. making it harder for scammers to call you. But until they are able to pass tough, efective legislation, it is up to us as consumers to remain vigilant and do what we can to keep our personal and financial data safe and secure. Thankfully, Congress is already attempting to fix this problem by
3 TASKS TO ADD TO YOUR FINANCIAL TO-DO LIST THIS AUGUST PLANNING FOR 2020 STARTS NOW
1. REVISIT YOUR ESTATE PLAN
gatherings at the beach or provide our son or daughter with the wedding of their dreams, but we must plan for these expenditures. Don’t let the summer months derail you from your long-term financial goals. Instead, use the downtime to review significant upcoming expenses to iron out the details. Are you still on track? As always, if you need some help, we are just a phone call away. Now that you’re a little more than halfway through 2019, it is an excellent time to revisit your risk tolerance. In times of prolonged bull-markets, it is easy for us as investors to become complacent with our plan or even feel tempted to become more aggressive with our investment strategy. However, it is imperative we take an objective view and do not fall victim to the “herd-mentality.” Be sure you assess your risk tolerance annually as your retirement plan is not static. Know what level of risk you are willing to take and how much risk you can afford to take. It is just one of the many things we are here to help you discover throughout the planning process. 3. ASSESS YOUR APPETITE FOR RISK
For many folks, estate planning is easy to dismiss or forget about altogether. Our lives become busy with work, family obligations, traveling, and volunteering. Once we retire, we are ready to take a break and enjoy the fruits of our labor. However, without proper estate planning, all of your hard work can be dashed away in one accident or unforeseen death. How are the kids going to receive our assets? Are my assets protected from the probate process? Do I have proper planning in place to pass on the correct type of assets — taxable, tax-deferred, tax-free? Do I have su cient liquidity within my plan to adequately fund my burial expenses without being a burden to my children or grandchildren? All of these are useful questions to revisit during the summer months as you sip your coffee on the front porch!
2. REVIEW YOUR UPCOMING LARGE EXPENDITURES
The summer season is one of the most comfortable times to spend big and spend often. We all love to host family
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