Are you concerned about having enough money for your retirement? If so, you’re not alone – 58% of New Brunswickers are worried they won’t have enough money to meet their retirement needs.
Scam artists prey on these fears by promising high returns on investments. In reality, these investments, if they exist at all, are usually high-risk products that are not right for people looking to protect their nest egg as they approach retirement. Either way, you could lose some or all of your money. With little time to recover from the losses, many victims find their retirement plans shattered.
Why are you being Targeted?
Today's pre-retirees are facing a unique burden. On top of preparing for retirement, many are still financially responsible for dependent children. Some also find themselves financially responsible for aging parents who didn't save enough for their own retirement. This has many pre-retirees worried about not having enough money to last them through retirement. Scam artists prey on that fear by promising high-return, low-risk in-vestments. In reality, these investments are usually high-risk products that are not right for people looking to protect their nest egg as they approach retirement-if the investment exists at all. Either way, you could lose some or all of your money. With little time to recover from the losses, many victims find their retirement plans shattered.
Think you can't be Scammed?
You may be surprised to know that many fraud victims over 50 are comfortable with investing. How can a savvy investor fall for an investment scam? Research shows that people with investing experience are more open to investment opportunities and willing to take risks. It also shows that experienced investors are more likely to make their own investment decisions, without getting advice from an independent financial advisor. Whatever the reason, remember that successful scam artists are very good at manipulating people into making poor investment decisions.