Thursday, March 28, 2024
HomeWellnessInvestment Scams Targeting Older Adults on the Rise

Investment Scams Targeting Older Adults on the Rise

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from Council on Aging of Middle Tennessee

The Better Business Bureau issued a warning notifying citizens that investment scams targeting older adults are increasing. Of course scams like this affect all ages; however, an uptick of complex investment opportunities are being directed at older investors. Some of these scams may include unregistered securities, promissory notes, charitable gift annuities, Ponzi schemes, etc.

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Here are some tips for spotting investment scams:

  • Don’t trust any claims where there are no risks. ALL investments carry some sort of risk.
  • Disregard promises of big money fast. No one can predict how investments will pay out.
  • Don’t make an immediate decision. Con artists love applying pressure for on the spot decisions.
  • Get everything in writing prior to making any decisions. A legitimate company won’t have a problem with a paper trail.
  • Take the time to check out investment opportunities with your state’s securities regulator or the federal Securities and Exchange Commission (SEC) at www.sec.gov or 202-551-6720.

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