5/4/2016 – How To Solve The Elder Financial Abuse Epidemic

The most vulnerable among us need protection and guidance. Here’s what you can do:

* Never give out financial information, your Social Security number, or your Medicare number over the phone unless you initiated the call.

* Don’t respond to calls, letters or emails from “Medicare” officials. Medicare employees, and those of any legitimate business, will never ask for your full Social Security or Medicare number.

* Beware of pushy marketers–don’t hesitate to take down their contact information and do your due diligence. Just say no.

* Check the fine print when ordering products online or from TV ads. Many times the shipping and handling charges can be as much as the actual product you are ordering.

* Consult someone you trust if you’re feeling uncertain about requests for money or personal information. Don’t provide any personal information over the phone.

* Never send money today for the promise of more money later.

* Don’s sign on the dotted line for any complex investments you don’t understand.

* Don’t give away power of attorney to anyone unless family members and personal advisors such as lawyers, accountants and financial planners have reviewed the documents.

* There is no free lunch. If a firm invites you out to a meal, they want you to sign up for an investment, real estate or a pure swindle.

* Avoid sweepstakes, “money claim” offers and pleas to help a relative in a foreign country. These are all scams.

* Use “caller ID” features on your phone. If it’s a toll-free number you don’t recognize, don’t pick it up.

Read the full Forbes article here.