Thu May 08 2025, by Tyler Gardner

3 Biggest Financial Scams Targeting Retirees and How to Avoid Them

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1. The Call from Social Security

You may get a call saying your benefits have been suspended, and you need to verify your information. Hang up the phone and call back the Social Security Administration at 800-772-1213. Ask for Deb; she'll tell you what's what.

2. Fake Investment Opportunities

I personally have hundreds of imitators targeting you, pretending to be me, claiming they have a great investment for you if you just send them $500. In this social media world, you never know who's behind that account. Always do your research before making any financial commitments!

3. The Grandparent Emergency Scam

This one just breaks my little heart. It's a fake call from a grandchild telling you they're in trouble. If someone ever calls you, tell them you'll call them back and then contact the right number for that person or agency. And, I guess, you should text your grandchild because kids these days don’t really know how to talk on the phone anymore. Just listening to my crotchety old self!

Conclusion

If any of this is helpful, tune into my new podcast, Your Money Guide on the Side, by clicking on the link in my bio.

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