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Practical Money Matters Radio Series

January 9, 2012
Seniors: Beware of Scams

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There are numerous scams today that target senior citizens. Find out what they are to keep yourself, or the seniors in your life, protected.


Sadly, plenty of con artists are happy to separate senior citizens from their money. Seniors are vulnerable because they often live on fixed incomes, face high expenses and need to stretch every dollar. Here are a few tips to protect yourself:

* Sign up for direct deposit and automatic bill payment with your bank to avoid mail theft.

* Never give out your account numbers for Social Security, Medicare, banks or credit cards unless you initiated the call or correspondence.

* Hang up on telemarketers, especially if they ask for personal information or say you've won a prize.

* Before responding to direct mail, read the fine print to make sure you're not signing up for unwanted services or products.\n

Bottom line: Always safeguard your personal information.

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