Are baby boomers at a high risk of investment scams?

What are some of the warning signs to watch out for?

Baby boomers are prime targets for scammers. Scam artists recognize that baby boomers have reached the point where they are looking to secure their investments and protect their retirement dollars. As a result, scam artists prey on common investor fears in this age group, in an attempt to defraud them.

Some of the most common investment scams used to attract baby boomers’ money include:

  • Oil and gas investments
  • Insurance products
  • Unregistered securities

Scam artists will also commonly promote that their investments are low-risk, but that they generate high returns. If a salesperson has made this claim to you or if you are feeling extreme pressure to invest your money, it could be a sign that the investment is a scam. You should always do your research and consult with trusted advisors, before investing your money.

If you have been the victim of an investment scheme, one of our experienced securities fraud attorneys may be able to help you. For more information, contact us today by calling or filling out our online contact form. We represent investors nationwide in stockbroker mediation, arbitration and litigation claims.