Retirement News with Professor Craig

Retirement News with Professor Craig

The Retirement News blog is dedicated to the financial and physical health and well-being of older Americans. 
Whether you're already in or nearing retirement, you will find important, topical information in the blog to help you make informed decisions on your road to retiring more freely.
As a 25-year veteran in the financial services industry and a certified trainer and teacher, Professor Craig's #1 goal is to help you thrive in retirement with financial peace of mind. 

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‘Tis the Season for Festive Fraud: 7 Tips for Caregivers to Protect Loved Ones
Retirement News

‘Tis the Season for Festive Fraud: 7 Tips for Caregivers to Protect Loved Ones

Sunday, November 13th marks the beginning of International Fraud Awareness Week. As a caregiver for an older friend or relative, one of the most important things you can do is educate yourself on the warning signs and help protect vulnerable loved ones.

In 2021, there were nearly 93,000 older victims of fraud, resulting in $1.7 billion in total losses. Crooks and scammers prey on older individuals, exploiting their vulnerabilities — hearing loss, health challenges or diminished mental capacity due to illness.

During the holiday season, fraud tends to peak with scams like fake shopping websites, gift card offers and unreputable “charities” trying to swindle your funds. But when you know what to look for, you can better protect yourself and the people you’re looking after.

Follow these tips to help protect against festive fraud: 

Start the conversation. Talk to the person you care for about the dangers of fraud and the importance of keeping their assets under wraps. Make sure they know that it’s never okay to send cash, wire transfers or even gift cards to a stranger. Verify any payment requests they receive before they follow through.

Make sure personal details are kept confidential. From credit card numbers to Medicare information, conceal checkbooks, credit cards and personal documents so they’re not easily within reach.

Prioritize online safety. Doublecheck the URL of sites your loved ones are visiting and shopping for gifts. Take note of any suspicious offers that seem too good to be true.

Do research on your loved one’s behalf. If they want to make a purchase from a site or brand you’ve never heard of, take a few minutes to verify its legitimacy. For example, read reviews or look them up on the Better Business Bureau.

Help them choose payment methods. Is your loved one using a credit, a debit card or a service like PayPal to make an online purchase? Remember, credit cards have built-in protections should fraud occur. If possible, designate one card for all online purchases.

Practice phone safety. Does your loved one know how to handle a suspicious call? Go over some things they can say to a potential scammer or instruct them to hang up altogether. Reiterate that no one will ever ask for money or personal information over the phone.

Monitor accounts and financial statements. Set up alerts any time a credit card is used, or a cash withdrawal is made. This can help ensure swift action if they’re finances if there is ever a breach.

The gift of financial peace of mind

You’re playing a selfless role in caring for your loved one and looking after their financial health. But are you planning for your own life after retirement? The truth is sometimes your retirement savings and monthly Social Security benefits aren’t sufficient to live the lifestyle you envisioned. Depending on your age, a reverse mortgage loan may be the option you didn’t know you had.

A reverse mortgage lets you leverage your home’s equity, giving you access to funds that you can use today or as a line of credit whenever you need it. And best of all, no monthly loan payments are required. The borrower must keep up with loan obligations including taxes, insurance and maintenance.

Reach out to the loan specialists at Reverse Mortgage Funding LLC (RMF) to learn more about the benefits of a reverse mortgage. Call RMF at (888) 277-1567 today.

This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans live the retirement lifestyles that they imagined and deserve, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; a 5-star / Excellent score on Trustpilot; 4.5 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call (888) 277-1567 to speak with one of our experienced reverse mortgage specialists to learn about our retirement financing products and solutions.



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A More Flexible Home Equity Loan

If you’re 62 or older, there is a home equity line of credit option that offers greater financial flexibility than a traditional Home Equity Line of Credit (HELOC). It’s called a Home Equity Conversion Mortgage (HECM) line of credit. 
If you have an existing mortgage or home equity loan you could refinance them with a HECM line of credit and get enhanced benefits, including a flexible payment feature and a line of credit that GROWS when left untouched.
As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and keeping your home in good condition.

Equity Elite Reverse Mortgage

Put Your Home Equity to Work for You

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By clicking "CALCULATE", you are providing your signature and express "written" consent to be contacted by or behalf of Reverse Mortgage Funding LLC, its affiliates and/or its agents (collectively Company) at the telephone, email or mailing address that you have provided for purposes of fulfilling this inquiry about reverse mortgages and/or the Company's products or services, even if you have previously registered on a "do not call" government registry or requested Company to not send marketing information to you by email and/or direct mail. You agree that the Company may use automatic telephone dialing systems and prerecorded voice messaging in connection with calls or texts made to the telephone number you provide even if the telephone number is assigned to a cellular or mobile telephone service or other service for which the called party is charged and are representing that you are the regular user of provided number. You understand that you are not required to consent to receiving autodialed calls or texts as a condition of any reverse mortgage and/or purchasing any Company products or services. If you do not wish to authorize Company to contact you in this manner, you can call 888-277-1567 to complete your request. You understand that you can revoke this consent at any time.

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