Avoid These Common and Costly Senior Scams

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Financial scams targeting seniors put their retirement savings at risk
By Consumer Reports, Nov. 22, 2016
Scams aimed at seniors can range from fraudsters who pedal bogus anti-aging products for less than $30 to a fake “cash award” racket that empties a $300,000 nest egg. In all, seniors lose an estimated $3 billion a year to scams and other financial abuse. Here are some of the common swindles, according to experts:

• Medicare Open-Enrollment Ploy
• Veterans’ Pension Scam
• Pump and Dump Investment Schemes