It’s Not Just Seniors That Fall for Scams – The Young Are Fleeced Even More Often
Category: Financial and taxes in retirement
June 29, 2021 — We baby boomers are constantly being warned that scammers are ready to take our last nickel, if we let down our guard for just one careless moment. An interesting pair of articles in the New York Times showed how that can happen to seniors, and surprisingly, that people in their 20s are twice as likely to lose big bucks to the internet’s artful dodgers than older people. Online Trickery Traps Seniors reported on how the elderly (and that increasingly means us) fell prey to unethical political fundraising ploys from both parties in the recent elections. The second article, The Young Fall for Scams More Than Seniors, found that scams involving job offers, paper checks, and student loan forgiveness snagged a surprising percentage of people aged 20-29.
Comments on "It’s Not Just Seniors That Fall for Scams – The Young Are Fleeced Even More Often"
JD says:
Educate younger relatives? They don't need "education" they just need to follow one simple dictum: If it sounds too good to be true, it is. Or as Milton Friedman famously said: "There ain't no such thing as a free lunch." Plus, if someone is asking you for money and is promising you more money, it's a scam. It isn't that hard. Be a cynic.