Don't Be A Target Of Scams

Now that you're retired, you've been spending more time at home and it seems like all you've been doing lately is answering the phone. Telemarketers hound you every day, and while some of the calls are legitimate, others seem a little fishy. Your gut tells you to keep mum and hang up. Good for you. That is exactly what you should do with any telemarketer who doesn't appear to be legit.

Every year, thousands of people fall prey to telemarketing scams, resulting in a $40 billion loss. Many of those are people age 50 and over. Because the majority of that age group is retired, they are at home to receive calls and have the time to listen. They are also more trusting, which makes them a major target. Fortunately, there are ways you can determine if a telemarketer is a scam artist.

Scam artists are very good at what they do. They know how to make a sales pitch. There are some buzzwords, however, that you can be on the lookout for in any pitch that will tell you if you are dealing with a scam artist. These include: • "Now." Urgency is a big part of scams. Calls to action like "You must act now" or "You must pay now" are common. Scam artists want to get you to act on the offer immediately without checking it out. • "Free for a small fee." Free is free. If the offer includes gifts, prizes or vacation packages in exchange for a small fee, it's a safe bet that it's a scam. Legally, prize promotions cannot be contingent upon a purchase or a payment. • "No need." Questions regarding the company making the offer are usually avoided in scams. The telemarketer claims to represent a legitimate company and that is that. There is no need for you to ask for written material or references regarding the company. Again, scam artists want you to act immediately without checking out what they are offering. • "No risk, high profit." Few offers that will result in high profits are without risk. If the offer is presented that way, it is probably a scam.

Generally the more persistent and urgent the telemarketer seems, the more likely they are running a scam, especially if they refuse to give you any information on the company they represent. If you suspect that a scam artist has called you, tell them that you are not interested in whatever they have to offer and ask them to put you on their do-not-call list. Legally, telemarketers cannot call consumers again once they make that request, nor can they call consumers outside of the hours between 8 a.m. and 9 p.m. If any ever call you back or call you outside of the required hours, you know that you are dealing with a scam artist and you can report them to your state attorney general or file a complaint with the Federal Trade Commission.

Time and money is precious. Don't waste yours on a telemarketing scam. Know what to look for in the calls that you receive from telemarketers and avoid scam artists.