Avoiding Scams For Seniors

In recent years, seniors are increasingly becoming the targets of scams and other fraudulent activities. Retirees nowadays are more well-off compared to those of the past generations.  In fact, United Income reports that the average wealth a retiree holds has risen by more than 100 per cent to almost a quarter of a million dollars. Majority of their assets are also liquid making it easy for them to access it whenever they need it. While this is great, the downside of the fast access to cash makes them a vulnerable target of scammers. Dorothy Lambing from Louisiana are among the cases, who unfortunately lose valuable assets to fraudsters. Dorothy received a notice saying she won thousands of dollars and can only claim them if she sends them $2,500 as processing fee. This is just a small fraction of the $3 billion stolen from seniors each year, as the Justice department estimates. Continue Reading...