SENIORS vs CRIME
Polk County, Florida
A Joint Project Of
THE FLORIDA ATTORNEY GENERAL
INVESTMENT SCAMS
ARE YOU SURE THAT LUNCH IS FREE ?
"There ain't no free lunch," I'm sure you have heard that before, and it can be very true with seminars that provide a "Free Lunch".
Senior Citizens are frequently victimized by being sold unsuitable investments and annuities. Senior investment strategy should be Preservation of Capital and Minimization of Risk.
W e have had clients in their eighties who have come to us after being sold "Deferred Annuities" that tied up their money for 5 to 10 years. Once the problem is detected they are obligated to pay a significant surrender fee, reducing their investment considerably.
"Variable Annuities" are tied to market performance and may cause loss of principle.
Frequently Seniors are told that they should not have "Certificates of Deposit" or CD's as they do not produce enough income. Then products are offered to replace the CD's. Just remember, THE MOST IMPORTANT FEATURE OF THE CD IS THAT IT DOES NOT LOSE PRINCIPLE, and does produce a known, constant rate of return.
- Consumer Fraud is intentional
- The Goal of fraud is to persuade someone to part with something of value, usually money
- Fraud involves deliberate deceit, misrepresentation or concealing valuable information
- Fraud can involve more that one person
- Don't sign anything until you have had time to thouroughly research it.
- Wait for a day prior to making a decision so you can check it out completely.
- If you are unsure, get help from a professional.
- DON'T BE INTIMIDATED!
