This is the big one. If there is one scam that seniors should be talking about it is this one. The amount of money that is being stolen is astronomical. At the 2nd annual Senior Summit, Chris Hansen the Associate Executive Director at AARP, recited the statistic that three fourths of all assets in America comes from families in which the head of the household is over 50 years of age. One of the main topics discussed at the Summit was investment luncheons. These are luncheons set up by a group of so called financial advisor’s or investors, that target portfolios.
These are only a few of the highlights:
- The salesmen will Try and gain your trust and then push for aggressive choices that pay them large incentives.
- These salesmen advertise the luncheon or workshop as educational. Then when they get you there or a few days later they aggressively try and convince you to take action.
- Just because someone shows you a certain license does not mean that they are legit, remember these people spend a good amount of time thinking of ways to take your money.
I am going to give you the hyper link for the Summit, and I do advise people watch the whole thing. Also send the link to friends and families, to local retirement communities, and senior centers.