|
|
|
| |
|
Home >
Security >
Seniors have most to lose |
| |
|
Seniors Have the Most
to Lose
3 tips for
avoiding investment fraud
(NC)-Research tells us that there's a scam for
everyone. But the impact is worst when a fraud
artist targets seniors. This is because seniors have
the least chance of making back money lost to
investments gone wrong.
With
one in seven Canadians today-4.3 million people-now
senior citizens, this risk is something that
everyone should be concerned about. The 2006 census
ranks the B.C. communities of Kelowna, Parksville,
and Qualicum as Canada's 'most elderly' big city,
mid-size city, and small town. Yet far from enjoying
the good life, one-third of Canadians over 60 are
working part time or full time. 19% say their
financial situation is worse than five years ago.
Financial worries can make seniors even more
vulnerable to pitches from fraudsters. When good
health finds you outliving your resources, or
inflation-eroded savings leave you unable to fulfill
your travel dreams, help your grandchildren, or even
cover regular living expenses, you are at much
greater risk of becoming the victim of a con artist.
A
little bit of knowledge can help you protect
yourself and keep your money safe. Here are three
tips to help you avoid becoming a victim of fraud:
-
Know yourself-What are your goals? Do you have a
financial plan? What kind of sales pitch might
make you want to say yes when you should walk
away?
-
Know your investment-Does it fit your goals and
financial plan? Is there public information
available, or is it a "secret investment just
for you"?
-
Know your adviser-Check credentials. Has your
adviser ever been disciplined? Bankrupt?
Legitimate advisers in B.C. are registered with
the B.C. Securities Commission. You can look
them up at
www.investright.org or by calling
1-800-373-6393.
When
it comes to your financial security, it pays to do
your homework. Taking the time to ask questions can
mean the difference between financial security and
financial ruin for you, or someone you love.
Credit: www.newscanada.com
|
|
 |
| |
|
|
|
It's
easy to stay up to date on the things that interest you.
Just 
