While home repair scams seem to proliferate at this time of year, it is not time to let your guard down for other types of scams that may come your way. Seniors should always be wary of telemarketing scams, but let's examine a couple of other popular scams. With seniors having worked long and hard to build the nest egg they hope will carry them through retirement, they must be careful not to become victims of investment scams. Investment scam ploys may involve stocks, mutual funds, limited partnerships, home equity or oil and land development. Seniors who may wish to invest in the financial markets or other investments should look to reputable financial firms to handle their accounts.
Charity fraud is another popular scam.
Throughout the year, especially during the holidays, millions receive telephone and mail requests to donate to worthy causes. Although the vast majority of the requests are legitimate, others are not. One of the more popular charity scams is that of copycat organizations that use names similar to those of better-known charities. Seniors need not fall victim to fast-talking scam artists. Understanding the types of scams that are being perpetrated will help them avoid being victimized.