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elder scam

Elderly Woman Was Financially Exploited, Says Police: How You Can Protect Your Loved Ones

Almost every day, there’s another news story about elder fraud. This week’s Sun-Sentinel reported on the appalling case of a local 87-year old woman who was allegedly swindled out of her home, bank and retirement accounts, then forced into an assisted loving facility. It took months for police to be called in and unravel the […]

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swimming with sharks Hawaii Shark Encounter

Like “Swimming With Sharks”: Local Investors Fall For Another Alleged Billion-Dollar Ponzi Scheme

Just when you thought it was safe to go back in the water. Imagine you’re a conservative investor looking for “safe, secure returns.” What could be better than “low-risk investments with a high yield?” Or maybe you’re trying to educate yourself about money so you can enjoy a secure retirement and stay far, far away […]

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fraud alert

Another Day, Another Ponzi Scheme in Boca Raton

A few years ago, a client called to ask me about an ad she saw in the local paper. It advertised an amazing 8% “safe” return on an investment that was touted as being as reliable as certificates of deposit, even though CDs at the time were paying only about 1%. “How is that possible?” the client […]

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investment scam shutterstock_160071281

Annuity Abuses Rise To Top Of Regulator’s Scam List

Has your broker recommended that you swap an old annuity contract for a newer one? Regulators say that could be a way to scam you out of thousands of dollars. Abusive swaps like these, involving improper annuity exchanges, have risen to the top of the investment scam list at FINRA (FINRA is the organization regulating […]

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tim-duncan

Basketball Star Tim Duncan Fouled By Bad Investments. Here’s How To Play Defense

San Antonio Spurs basketball star and two-time Most Valuable Player Tim Duncan, who recently retired from the courts, is known as one of the greatest players of all time. His basketball earnings topped $220 million over his career. But that didn’t stop him from getting fouled by bad investments. According to his attorney, Duncan, now age 40, lost as […]

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money grab

Quote Of The Week: Don’t Fall For The High Commission Annuity Sales Pitch

“Thousands of annuity salespeople are hoping to grab your money and steer you toward their high-commission indexed annuity product before they will be required to act honestly under the fiduciary standard and undergo background checks.” Terry Savage, financial blog author and columnist at TerrySavage.com, “Do your research before diving into annuities,” Sun Sentinel, August 7, […]

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drowning in bills

Cutting Outrageous Annuity Fees Down To Size

How would you like an extra $38,000 in your pocket each year? Or how about $76,000? That’s each and every year, by the way. We can share with you a pretty amazing story about how we saved two clients $38,000 per year each, for a total annual savings of $76,000. Those savings will flow straight through […]

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telephone scam

Warning! New, More Sophisticated Scams Target Seniors

New and increasingly more sophisticated scams are targeting the elderly, who are hard-pressed to keep up and stay ahead of the latest cons. “Callers often pose as cash-strapped grandchildren, tax collectors or providers of technical support,” reports Jennifer Levitz, writing for The Wall Street Journal. What makes the new scams particularly effective is that calls frequently use “spoofed” […]

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credit card debt couple

Hall Of Shame: Are Credit Repair Services A Hoax?

We get asked all the time whether credit repair services are the real deal. Can they truly fix your credit rating and lower your payments, or are they just one more ripoff scheme? Consumer advocate and author Sid Kirchheimer says in his opinion these services deserve a big thumbs down. “They may charge $5,000 or monthly fees […]

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Financial Hall Of Shame: Free Lunches Can Cost You A Bundle

You’ve heard the saying that there’s “no such thing as a free lunch”? That’s especially true when it concerns your hard-earned money. Financial regulators say free lunches can pressure seniors into making “unsuitable, even fraudulent investments.” Financial and insurance companies, brokers, and other salespeople use free lunches to lure older Americans into high-pressure investment pitches. Afterward, older investors may feel […]

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