Protect Yourself and Your Money Don’t Let Scammers Get You Down
A ccording to a recent survey by the American International Group (AIG), a majority of Americans over the age of 65 don’t know much about the myriad financial scams circling the globe. Reports show that ignorance of these scams has proven costly for the 65-plus crowd, who are the most frequently targeted demographic. Is It Love? One common shakedown taking seniors and retirees for a ride is the online romance scam. As part of it, a person poses as a potential date or romantic partner and engages in a fake relationship with the victim. The scam usually starts with an online or web-based dating service and progresses to texting or talking over the phone, but it always stops short of an in-person meeting. Instead, after the scammer has gained the trust of their victim, they’ll claim there’s been some kind of emergency for which they need money fast. The clueless victim usually offers to
overdue $50 for their power bill. If the victim says they’ve already paid, the scammer might respond, “Your payment didn’t process correctly.” The crook’s job is to get the victim to relent and pay up. Then, once they’ve been paid, usually via credit card number or wire transfer, the scammer once again vanishes along with a significant portion of someone’s bank account. Scammers want your money, but if you are aware of today’s hustles, you can better protect yourself and your assets. Luckily, AIG also found that nearly 92% of the 65-plus crowd now ignores phone calls, texts, and emails that request personal information, and 89% of these folks say they avoid clicking links from unknown senders. Be vigilant and remember that if someone calls you and demands personal information over the phone or asks you to wire money, there’s a very good chance it’s a scam. Marina Hotel and Restaurant. It will be an afternoon of food, drinks, and fun. Space is limited, so RSVP by calling 904-232-8760 or emailing Robin@wolfretirement.com before Feb. 6, 2020. State of the Retirement Luncheon Guest Speaker Martha Marshall, Tax Manager When: Friday, Feb. 21, 2020; 12–2 p.m. Where: Wolf Retirement Navigation - 2nd Floor Conference Room How will the current state of retirement impact your future plans? We will recap current economic, market, annuity, and tax trends and news. Guest speaker Martha Marshall will be joining us to discuss the new individual tax filing season and what to expect. Lunch will be served. This is a client-only event, and clients are encouraged to bring one guest or family member.
wire them the money. In many cases, the scammer will continue asking for money for as long as they can get away with it. Then, once the victim figures they’ve been bamboozled and try to retaliate, the scammers vanish — off to find their next target. scam. Again, AIG reports that about 57% of people aged 65-plus aren’t familiar with this sham. In most cases, the victim receives a phone call or email from a representative of a local company, who says they still owe money for a bill or service. For example, the scammer may tell the victim they owe an Did You Pay? Another prevalent rip-off is the invoice Group, is a former Cal football running back who now teaches finance and personal motivation on his podcast “The Young Money Podcast.” • Michelle Singletary is the author of “Spend Well, Live Rich,” formerly “7 Money Mantras for a Richer Life.” Singletary takes wisdom from her grandmother and offers practical personal financial advice. ‘Galentine’s Day’ Luncheon NEW DATE: Wednesday, Feb. 12, 2020; 11:30 a.m. to 1:30 p.m. Where: Casa Marina Hotel and Restaurant, Jacksonville Beach, Florida
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What’s Happening in February?
Patrice Washington
Black History Month To commemorate Black History Month, Wolf Retirement Navigation is highlighting members of the African American community who are making strides in the field of personal finance. • Patrice Washington, founder of Seek Wisdom, Find Wealth, Inc., prides herself on the fact that she can “drive some of the personal finance gurus crazy.” On her podcast “Redefining Wealth,” Washington teaches listeners to chase purpose, not money. • Dasarte Yarnway, financial advisor and founder of Berknell Financial
Wolf Retirement Calling all the ladies! You’re invited to a special Galentine’s Day luncheon celebrating YOU! This is a ladies and
client-only event, so feel free to bring your mom, sister, or best gal pal along to enjoy a delicious pris fixe lunch at the Casa
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