Thursday, May 1, 2014

Plan For Retirement Safely



 The Securities and Exchange Commission provides a webpage with a lot of information to help Seniors invest their money wisely.  This web page has links to information about what questions to ask when considering investments and how to avoid internet scams and affinity fraud. In addition, they have published a pamphlet called "A Guide For Seniors: Protect Yourself Against Investment Fraud". 

 They have also created a brochure called "Early Retirement Seminars 101: Smart Tips for Spotting Retirement Scams", This pamphlet can help you to recognize fraudulent retirement pitches, that promise much more than they can deliver. For example, here are some common tactics used by scammers:
  • the "scarcity tactic" - claiming there is only a limited supply left for an investment.
  • the "reciprocity tactic" - offering to give you a discount on commission if you buy now.
  • the "source credibility tactic" - the broker claims to be a reputable expert.
  • the "social consensus tactic" - other savvy people have invested in this product.
Another useful resource is the investor bulletin, "Social Media and Investing - Tips for Seniors". This bulletin can help you avoid online investment fraud. Finally, be very wary of "free lunch" investment seminars. These lunch seminars are advertised as "educational", but they are really geared to sell you investments. You can read more about these "free lunch" sales seminars in a previous post here.

1 comment:

Unknown said...

So finally someone has considered to find ease for senior citizens even, this article has been a great source for them to easily plan for after retirement and along with this they can focus on doing further investments.
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