Sorted by date Results 26 - 44 of 44
They’re not real ghosts, but sadly it’s true that thieves are able to steal the credit of people who are gone. They open accounts, run up bills, and get away with it for a while. That’s called ghosting. According to security firm ID Analytics, 2.5 million people every year are running up charges after they are deceased. While Aunt Sally may have passed on, as far as creditors know she’s out shopping for designer boots or high-rolling in a Las Vegas casino. And you may not find out about it `til collectors come looking for payment from Aunt Sall...
Everyone keeps a little cash for emergencies, right? We do our best to hide it, but the trouble is, most of us hide it in places that burglars can easily find. Chris McGoey, a Los Angeles based security expert lists a couple of the worst places to hide cash. In your bedroom. This is where most of us hide cash, jewelry and easily-grabbed valuables. McGoey says this is the first place crooks look. Forget the dresser, the night stand, under the mattress, in the closet. “Burglars will flip the bed over almost every time,” he says. McGoey also say...
Whose living are you paying for? Roughly 62 percent of people age 50 and up are providing financial support to family members, according to a study by Merrill Lynch Wealth Management. Some are helping out with the needs of their elderly relatives, but for many, their adult children have moved home — or never left. Whether the support is a one-time need or ongoing over many years, the baby boomers who are shelling out money do so without realizing they’re putting their own retirement security at risk. After all, even people who earn plenty hav...
If you watch much TV you’ve probably heard the ads for free or nearly free medical items, possibly a knee brace, back brace, or other device. “If you qualify for Medicare, then you qualify to get these items or services – all you have to do is ask. You don’t even have to need the items.” Why would the manufacturers do this? Because to get your freebies, you have to give them your valuable Medicare ID number, or other insurance ID, so they bill for the items. It is a way to drum up business, but the fact is, you may not receive the items at all....
Medicare is serious about enlisting your help to fight fraud. If you suspect fraud and you meet all five of these conditions, you could be eligible for a reward of $1,000. Here are the conditions: 1. You report your suspected Medicare fraud. The allegation must be specific, not general. 2. The suspected Medicare fraud you report must be confirmed as potential fraud by the Program Safeguard Contractor, the Zone Program Integrity Contractor, or the Medicare Drug Integrity Contractor (the Medicare contractors responsible for investigating...
You may know that theft of Social Security numbers (SSN) among seniors often happens because thieves go after your Medicare cards. Experts say, never carry your Social Security card with you, to prevent theft of your SSN. But your SSN is printed on your Medicare card, which we are told we should carry. Thieves know this. For ages Americans have been asking our government to remove that critical number from the Medicare card, but to no avail. It looks like someone might finally be listening. With the rise of cyber-attacks involving medical...
Do you have a health savings account (HSA) at work? You may have enjoyed the comfort of an HSA account during your work life, knowing the money for your health needs would be there. Did you know that once you turn 65 and begin receiving Medicare, you can no longer make contributions to your health savings account? But you can still take withdrawals tax-free, to pay for many of your medical expenses. Among other things, you can: • Use your HSA money to reimburse yourself for the money that Social Security withholds from your benefits for M...
Dating was scary when we were young, and it’s still scary, but for different reasons. In some ways it’s easier now because we know what we want and we’re more confident. But the fact is, most of us 50 and up have baggage. The baggage might be a small duffle bag, or it might be a three-piece matched-set of luggage and a steamer trunk. It could be broken hearts, previous marriages, grown kids who don’t like the people you date, or worse, grown kids who still live at home, possibly with children of their own. Online dating adds an element of anon...
Age does not directly affect your credit score. At least not the way late or missed payments or overuse affect your score. But there is a definite connection. Assuming you’ve handled your finances well, age can be a positive factor in determining your credit score. There’s a saying in the financial world – “the best credit is old credit.” So let’s say you are 70 years old. You may have had charge accounts of one kind or another for 45 years or so. That’s a long time to prove yourself creditworthy. It’s also long enough that, even if you had...
If you’re like most of us, you detest those darn child-proof caps that come on every medication. In fact, you may have tossed the troublesome lids. And you may be in the habit of keeping your medications on bedside tables or other easily reachable places. You should know, the Centers for Disease Control (CDC) reports that 80 percent of emergency room visits are from medication overdose among kids 12 and under, usually because they were curious when they found medicines that resembled candy. That’s the equivalent of four busloads of kids, eve...
An ethical will is a document which expresses your wishes, hopes and maybe blessings. It’s something you share with family members while you are still alive. Sound unimportant? Think about it. You could look at it as a way to impart wisdom to those you will leave behind. It’s easier than a memoir and a good way to convey important ideas. I had a friend – Annette – who suffered a serious brain injury at age 42. Before she went into a surgery, which she knew she might not survive, she wrote short letters to her daughters, husband, parents...
You’ve heard of people who were declared dead, much to their own surprise. Think this cannot happen to you? The odds that it can happen are increasing. In 2013, NBC News reported the disturbing fact that roughly 28,000 erroneous deaths are logged into the Social Security Administration (SSA) Death Master File, each year. Mark Pinney, interviewed by NBC News, found out he was declared dead when the grocery store rejected his bank card. Imagine his shock when he went to the bank to ask why, and they told him his account was closed because t...
If your spouse has a retirement plan of his or her own, are you the beneficiary? Are you sure? Federal law requires that for 401(k) plans and most types of retirement accounts, the spouse must be the beneficiary. But this is not true of all types of retirement plans. And depending on where you live, you could be in for an unpleasant surprise someday, especially if your spouse was previously married. If you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin, and if the...
Why some older people are sitting ducks for con artists Sad but true, seniors are often targeted by scam artists because they make good victims. Reader’s Digest asked one former con artist, Jim, what it is about some seniors that make them the focus of thieves. Here’s a summary of what Jim said: • Senior citizens generally have money. Many are “sitting on fat nest eggs.” • Their emotional needs are easy to read. They volunteer information about how they love their kids and grandkids, and they share their fears about the global economy and...
Traveling outside of the United States obviously requires a lot of planning, and even more so for people with health issues. Many seniors who are covered by Medicare don’t realize that once they leave the United States, Medicare coverage is minimal or nonexistent. However, if you are traveling to a U.S. territory, such as the Virgin Islands, Puerto Rico, American Samoa, or the Northern Marian Islands, you are probably covered. Otherwise, don’t make the mistake of relying on Medicare. So what happens if you do end up needing medical care while o...
There are all kinds of advice out there about how to break bad habits or form good ones. Not to mention that we’re all adults and probably know what we need to do anyway. Habits are part of us. They make us the people we are, for better or worse. But at the beginning of each year many people grow a little introspective about the things we need to change. Whether or not you are a person who makes New Year’s resolutions, chances are there are at least a couple of things you’d like to do differently – quit smoking, lose weight, get in shape,...
If your money situation is a mess or, worse, you don’t know your money situation, here are some bad habits to break and some baby steps to get started. Head in the sand. Do you know where your finances stand? You don’t have to be a financial wizard, make charts and graphs, or read the Wall Street Journal every morning. But you do need to know your balances. If you have been ignoring your finances, bite the bullet and take a look. Then check your bank accounts every single day. Whether you look online or call the automated bank teller, you nee...
Confusion is common when laws change. And that may be even more true with health care reform, since nobody – including those in Congress who created the law – seems to understand it. One thing is certain, scam artists are out there taking advantage of the lack of knowledge to steal from trusting victims across the country. “There’s been a rapid increase in scams exploiting the confusion over health care reform,” confirmed Jim Quiggle, the spokesman for the Coalition Against Insurance Fraud. “People are uncertain what it means to them and sw...
How long will your tax-deferred retirement savings last as you use them to supplement your Social Security checks? Obviously the answer is affected by how much you saved and the unknown factor of how many years you will live in retirement. But it also depends to a large extent on how much Uncle Sam leaves you after he takes what he calls his fair share. This is when the juggling act begins, figuring out ways to live comfortably and still make your retirement income stretch. Here are some ideas to help you save money by reducing how much Uncle...
