financial matters

 

The Golden Years.  These years are supposed to be a person's reward for a lifetime of hard work and responsible planning.  Unfortunately, the very same diligent work and savings that should provide a comfortable and secure retirement makes seniors an attractive target for scams.  Seniors are very likely to have a substantial pool of assets, ranging from savings and investments to home equity and pensions.  This pool of assets attracts scam artists to seniors because, in the words of the notorious bank robber Willie Sutton, "that's where the money is." 

Seniors are also likely to be facing a variety of new challenges that scammers can try to exploit.  For example, new retirees are confronted with a transition from saving for retirement to living on their accumulated savings.  This may lead to concern about making those savings last and grow.  These concerns can leave seniors vulnerable to dishonest "advisors" who promise big returns and instead steal their clients' money.  Or, seniors may find themselves in need of assistance handling their affairs or planning for their medical needs.   All of these present opportunities for a scam artist.

To help seniors protect themselves from scam artists, the Attorney General has assembled the following materials.  It provides information about some of the most common scams used against seniors, together with advice on how to protect yourself.

 

 
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How do I verify a home improvement contractor's license and complaint history?

Call the Attorney General's Consumer Protection Division, at 1-877-765-8388, and the Bureau of Commercial Services, at 1-517-373-8376.

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