Dear Savvy Senior,
Can you offer some tips on protecting seniors from financial scams? My neighbor’s elderly mother was recently swindled out of $10,000 and I want to make sure my own mother is protected.
Financial scams that target the elderly continue to be a big problem in the U.S. In fact, it’s estimated that some 5 million Americans over age 60 are scammed out of roughly 3 billion every year. Here are some tips that can help you spot a scam, and what you can do to protect your mom.