HELP SENIOR CITIZENS AVOID FINANCIAL ABUSE

By d-mars.com News Provider

Support the older people in your life by brushing up on ways to stay safe and secure off and online.

“I wish scary characters were only make believe, but unfortunately, there are real ones lurking in the digital realm and sometimes in our lives. All too often, we hear of elder financial abuse cases where these bad actors manipulate unsuspecting souls out of their savings and possessions,” says Lauree Peterson Sakai, strategy leader for Wells Fargo Aging Client Services. Imposter scams use a variety of tricks to gain a person’s trust and steal their sensitive information, but they often start with a simple call, email or message impersonating a person or company they know to trick them into giving away their money.

SOME TIPS TO HELP THWART FRAUDSTERS:

• Don’t pick up calls from unknown numbers. The IRS and other government or financial institutions rarely make outbound calls and never ask you to provide personal information.

• Avoid helping strangers with cashing checks, de livering packages, or receiving goods.

• Beware of calls from individuals claiming to be your grandchild in urgent need of money. Hang up immediately to avoid falling for this common trick.

• Speak to another family member or trusted person in your life before lending large sums of money to family members or new acquaintances.

• Fraudsters are everywhere today, including in internet searches, emails and texts.

• Don’t be tempted to click on something that could hurt you or expose your personal information and log-in credentials.

The main stressor for all employees - gig or traditionalis finances. Gig workers may experience more financial stress than traditional full-time workers, however, since their work may be less steady than a traditional position. Gig workers need to constantly keep up with obtaining and maintaining clients, ensuring their next project (and paycheck) is lined up. They also need to pay their own self-employment taxes and Social Security, among other expenses.

› EMPLOYER BENEFITS

Gig workers are usually responsible for obtaining medical insurance and other benefits normally provided by employers. In fact, only 4% of gig workers reported that employers offered insurance, and only 5% said they were offered a retirement plan. People who choose to “be their own boss” must also procure their own benefits beyond health care, such as short- or long-term disability, accident insurance and more. Gig workers who want or need benefits may have to pay the full cost of coverage themselves. In the survey, 65% of gig workers said that they would be interested in a wider array of non-medical benefits that they could pay for on their own.

› CO-WORKERS AND CAREER DEVELOPMENT

Unlike traditional employees with daily access to networking with colleagues and continuing education through their employers, gig workers wanting to develop their careers must find and pursue those opportunities on their own. Interested in gigging? Read “The Gig Economy: Opportunities, Challenges, and Employer Strategies” report to learn more about MetLife’s insights into the evolving gig economy.

Source: BPT

“The best things you can do for yourself are to know how to recognize potential scams and keep an open dialogue with your family and loved ones. Encourage each other to share if something sounds suspect,” says Peterson-Sakai.

For a guide to identifying and preventing elder abuse, visit wellsfargoadvisors.com.

Source: State Point