Scam Alert: Pig-Butchering, Phishing and More

This episode of Boomer Banter is a wake-up call for seniors and their families as it tackles the pressing issue of financial scams targeting Boomers and Beyond. Wendy Green, the ever-enthusiastic host, engages in a lively conversation with Steve Benton, an authority on elder financial safety. Together, they shine a light on the staggering statistics surrounding scams, revealing how seniors lost nearly $4.9 billion in 2024 alone—an increase from the previous year. They dissect various scams, including catfishing and the harrowing ‘pig butchering’ scheme, where victims are lured into investing money in fake opportunities. Steve's expertise shines as he shares practical advice for recognizing signs of scams and protecting oneself, stressing the importance of skepticism in today’s digital world. He suggests having a family password. This episode is not just a discussion; it’s a heartfelt appeal to the community to look out for one another and ensure that aging well includes being financially secure and aware of potential threats. Listeners will walk away not only informed but empowered, with useful strategies that can be applied in real life to fend off scammers. Wendy and Steve remind us all to stay vigilant and support one another as we navigate the complexities of aging in a world that can sometimes feel overwhelmingly unsafe. If you care about someone who might be vulnerable to scams, share this episode—it could make a world of difference!Takeaways: Seniors are increasingly vulnerable to scams, for many reasons. It's essential to have a family password to confirm identities during unexpected calls or messages. Trust your gut! If something feels off or too good to be true, take a step back and think. Don't go it alone; sharing experiences and advice with family can prevent falling for scams. Pause, Reflect, Get someone else involved.Links referenced in this episode:Schedule a complimentary 30-minute call with me. Email Steve Benton at The Senior Source Call the Senior Source contact line at 469-517-7523Check out Greenwood Capital for your Financial Planning needsLearn more about Greenwood Capital or find resources at www.GreenwoodCapital.com. Boomer Banter is sponsored in part by Greenwood Capital Associates, LLC. Greenwood Capital Associates, LLC is an SEC Registered Investment Advisory firm with offices in Greenville and Greenwood, SC. As a fiduciary firm, Greenwood Capital is obligated to disclose any potential conflicts of interest with this arrangement. The host of “Boomer Banter”, Wendy Green, is a client of Greenwood Capital, and her show “Boomer Banter” has been compensated for her testimonial through Greenwood Capital’s sponsorship. Greenwood Capital is a Legacy sponsor at the stated rate of $2,600 for the 2025 calendar year.