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Senior Financial Scams

MoneyWise

Christian talk radio with Rob West

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. Today, Rob West and Steve Moore discuss the disturbing numbers on senior citizen scams. Its more common than you may think. Theyll also discuss what you can do to prevent it. Next, they answer your questions at (800) 525-7000 and [email protected] about the following: - My wife and I have been discussing investing in the stock market. Whats the difference between putting money in the market or playing the lottery? -Im 67 and I still work. I make about$2,600 per month. What should my tithe be? I feel like Im giving away money Ill need to live on in the future. -My mother gave me $10,000. I would like to invest it and give my husband a surprise vacation. Should I keep the money a secret? -You have said that by waiting to start drawing Social Security, you would receive an 8 percent increase per year. But when I run the numbers, I dont see how that works. Can you help me? Be sure to check out our new website at moneywise.org to connect with a MoneyWise Coach or access our books, videos, or any of our free helpful resources.You can also find us on Facebook. Thanks for your prayerful and financial support that helps keep MoneyWise on the air.And if you'd like to help, just go to the website and click the Donate tab at the top of the page.

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