PROTECTING YOUR MONEY -- TIPS FOR SENIOR CITIZENS

• Do not participate in sweepstakes offers either by mail or over the phone, especially if there is an entry fee. The odds against winning are astronomical and many sweepstakes are scams and frauds.

• Never buy anything over the phone on the spur of the moment. Just say, “No thank you” and hang up.

• Before making investments or major purchases, ask family members and friends to recommend reputable firms.

• Don’t make a buying decision or investment based on emotion. Never let a salesperson convince you to “do it for the kids” or “do it for your grandchildren.”

• Beware of door-to-door sales people. Never invite them, or any other stranger, into your home.

• Never make a buying decision or investment at the time of the sales pitch. Count to three – wait three days before deciding.

• Before making a charitable contribution, ask for a written financial report from the organization.

• Get all estimates for repair work in writing. Before signing any contract, read and understand all terms and conditions, including the “fine print.”

• NEVER give personal or financial information to someone you don’t know. This includes your Social Security number, bank account numbers, driver license number, and credit card numbers.

• Remember, if an offer sounds too good to be true, it probably is.