Retirement Resources: The Truth About Avoiding Scams
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The Truth About Avoiding Scams by Steve Weisman
(FT Press, 2008)This new book, written by Attorney Steve Weisman, offers information about how you can safeguard yourself from scams that could impact your finances, your health, and your reputation. Excerpts provided here are copyrighted by Pearson Education, Inc. and are used with its permission. (Note: This does not imply endorsement of the book or its contents by NBR).
Excerpt: Truth 34 - Social Security
"One common Social Security scam involves promises by the criminals that they can get back to you from the federal government all of the Social Security tax payments you’ve made throughout your lifetime. For the proverbial “small fee,” which is usually about $100 and a percentage of the refund that never comes, the con artist promises to file the proper claims forms with the IRS. The truth is, there’s no such program. Social Security tax payments..."
More of the Excerpt on Social Security Scams (PDF)
Excerpt: Truth 35 - Medicare
"Many seniors have received telephone calls about a phony prescription drug plan being offered as a part of the Medicare Part D prescription drug program. The scam has become known as the “299 dollar ring” because that’s the typical amount that a Medicare-eligible senior is told to withdraw from his checking account to enroll in the fictional plan. Other times, the caller asks for your checking account information..."
