An Investment Lawyer Explains How Retirees and Pre-Retirees Can Avoid Investment Fraud Loss
If you are still a few years away from retirement, you may be taking stock of your investment accounts and looking at ways to prepare for the upcoming changes. The con artists who run investment scams and schemes know that this can be a vulnerable financial age for many Americans, and they will often try to manipulate you into giving up your retirement savings, college funds, and other “nest eggs.”
If you are concerned about investment fraud, here are just a few quick reminders for keeping your retirement account safe:
- Thorough research and careful consideration are two of the most important factors in avoiding investment fraud before you hand over your cash.
- High-pressure sales tactics and harassing communication from the investment promoter are often hallmarks of a scam.
- Con artists target pre-retirees partially because they are after their lifetime savings and long-term retirement accounts.
- Con artists may try to convince you to transfer your retirement savings into a “get rich quick” scheme by playing on your fears of providing for yourself and your family after retirement.
- Some scammers will stoop to preying on recently widowed or divorced investors who may not be used to handling the finances and investment accounts.
- Use FINRA's BrokerCheck to learn about the professional history of the person pitching the investment.
UPDATE: New Rules to Protect Retirement Accounts in 2017
If you need help learning how to spot a scam, or if you believe you may have already lost retirement money to an investment scam, please take a moment to watch our helpful video!
For more information, please reach out to the experienced investment fraud attorneys with Meyer Wilson today.