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Protecting Your Nest Egg: The Scams Targeting Retirees — and How to Outsmart Them
Imagine getting a call in the middle of the night.
A shaky voice says, “Grandpa, it’s me — I’m in Mexico. I’ve been in an accident. Please don’t tell Mom or Dad — I just need $5,000 to get home.”
You’d do anything to help, right?
That’s exactly what scammers count on.
🎙️ This Week’s Podcast: “Protecting Your Nest Egg”
In this week’s episode of Healthy Wealthy Retirement, Mark Struthers shares how retirees are being targeted by increasingly sophisticated scams — some even using AI-generated voices and spoofed caller IDs that sound eerily real.
👉 You can listen here:
🧠 Why Retirees Are Prime Targets
Retirees hold most of the wealth in the U.S., and criminals know it.
They prey on emotion — not logic.
Common scams Mark covers:
- 🚨 “Grandparent” emergencies
- 💸 Fake calls from the IRS, Medicare, or Social Security
- 🏦 Phishing emails that look like Schwab or Fidelity
- ❤️ Online romance scams
- 🪙 “You’ve won a prize” sweepstakes or investment schemes
These scams all share the same traits: urgency, secrecy, and pressure.
🛡️ How to Stay Protected
Charles Schwab’s SchwabSafe® program guarantees reimbursement for unauthorized activity — but no custodian can protect funds you willingly transfer to a scammer.
That’s where awareness comes in.
Mark’s 7 Smart Protection Habits:
- Use unique passwords or a password manager
- Turn on two-factor authentication
- Keep your devices and browsers updated
- Freeze your credit (it’s free and reversible)
- Limit what you share on social media
- Add a Trusted Contact on your Schwab account
- Review your accounts weekly
💡 If something feels off, stop. Verify. Call the official number on your statement — not the one that called you.
⚡ If You Think You’ve Been Hit
- Call your bank or custodian immediately
- Change passwords everywhere
- File a report at IdentityTheft.gov
- Freeze your credit and set up alerts
- Document everything
Speed matters more than shame.
🧾 Free Download for Subscribers
We’ve created a free checklist to help you measure your risk:
“Am I at Risk of Having My Identity Stolen or Being a Victim of Fraud?”
It’s a simple yes/no worksheet based on real-world scenarios we see every day.
➡️ Get the Free Checklist” link=Am-I-At-Risk-Of-Having-My-Identity-Stolen-Or-Being-A-Victim-Of-Fraud (1).pdf
This is the same tool we use in our Sona Wealth reviews — and it takes just five minutes to complete.
🌿 Final Thought from Mark
“Protecting your retirement isn’t about paranoia — it’s about preparation.
The goal isn’t to hide from technology, it’s to use it wisely.
When you’re proactive, you can focus on what really matters — living a healthy, wealthy retirement.”
Stay safe and stay smart,
Mark Struthers, CFA, CFP®
Founder | Sona Wealth Advisors
www.SonaWealthAdvisors.com
P.S.
Know someone who might fall for a scam like the “grandparent” call?
Forward this email — it could save them thousands.
If you don’t have a plan and would like to get one, schedule an Intro Meeting:
To health and wealth!
Mark Struthers, CFA, CFP®, CRC®, RMA®
For current clients looking for a meeting:
This commentary is provided for general information purposes only, should not be construed as investment, tax, or legal advice, and does not constitute an attorney/client relationship. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable, but is not guaranteed.
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