36% of Retirees Fear Falling Victim to Financial Fraud. Here's How to Avoid It.
Seniors are often regarded as our nation's most vulnerable population, largely due to health and mobility issues that often leave them isolated. Seniors also tend to financially insecure -- particularly those who rely mostly on Social Security to pay their bills. It's not surprising, then, to learn that 27% of retirees are concerned about falling victim to financial fraud or a money-related scam, according to a new survey by the Society of Actuaries. If you share similar fears, here are some important rules to keep in mind.
Your Social Security number is an important identifier. Once a criminal gets hold of it, he or she can use it to open a credit card in your name or even attempt to steal your tax refund or Social Security benefits. That's why you should never give your Social Security number out without first fully vetting the person, company, or agency that's asking for it. And also, don't carry your Social Security card with you. There's really no need for that, and if your wallet is lost or stolen, you could end up with a serious identity theft problem on your hands.
IMAGE SOURCE: GETTY IMAGES.
Source Fool.com
