MoneyWise


Senior Financial Scams

October 2, 2018

Baby boomers are steadily advancing into their senior years now and that means growing numbers of them are at risk for financial exploitation. Scammers are out in force to take advantage of this vulnerable demographic.  On this edition of MoneyWise, Rob West and Steve Moore discuss the disturbing numbers on senior citizen scams and what you can do to prevent it.  It’s more common than you may think. 

Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • Biblically speaking, what’s the difference between putting money in the stock market or playing the lottery?  
  • If you're 67, still working making about $2,600 per month and feel like you're giving away money you'll need for the future, what should your tithe be?
  • If you just received $10,000 from your mother and would like to invest it for a surprise vacation, should you keep the money a secret from your husband?
  • Can you explain how waiting on drawing Social Security yields an 8 percent increase per year?

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