Ideally, as you become older, you're able to build enough of a savings account so that you can retire comfortably. During your life, you may start a family as well, meaning that you'll have numerous individuals to be responsible for. It's this feeling of empathy that makes many people the victim of grandparent scams. For those that would like to learn more about these, here is some information provided by Robert Jain.
According to authorities on finance like Bob Jain, a grandparent scam is what occurs when an elderly individual receives a phone call from someone claiming to be their grandchildren. They may create a story that tugs at the other person's heartstrings, such as a medical emergency or a lost job. In short, they need money quickly. Worried about their grandchild, the victim will send money to the individual, only to eventually realize that they've been fooled. This is a serious financial matter that, more than anything else, preys on the empathy of others.
Grandparent scams, as serious as they are, can be prevented if you know what to do. You can get in touch with other family members, telling them that you've been contacted by a grandchild. Depending on how well they know the relative in question, they will either confirm their story or refute what you've been told. Regardless of what they say, speaking to your family before sending money is a smart course of action.
Did you also know that grandparent scams usually require the one being targeted to wire money over? You may not think that this is strange, but consider that there have been other methods that have developed over time. In fact, you're likely to meet more people that use PayPal over wire transfers. If this method is what they insist on, more than anything else, it's fair to approach the situation with caution.
Finally, if you're going to protect yourself from grandparent scams as much as possible, ensure that your experience on the Internet is secure. When you're online, you should have software that blocks viruses, trojans, and the like. A firewall should also be set up, though most computers have these implemented from the get-go. If you're not familiar with technology in general, ask a family member that understands it to help you out.
According to authorities on finance like Bob Jain, a grandparent scam is what occurs when an elderly individual receives a phone call from someone claiming to be their grandchildren. They may create a story that tugs at the other person's heartstrings, such as a medical emergency or a lost job. In short, they need money quickly. Worried about their grandchild, the victim will send money to the individual, only to eventually realize that they've been fooled. This is a serious financial matter that, more than anything else, preys on the empathy of others.
Grandparent scams, as serious as they are, can be prevented if you know what to do. You can get in touch with other family members, telling them that you've been contacted by a grandchild. Depending on how well they know the relative in question, they will either confirm their story or refute what you've been told. Regardless of what they say, speaking to your family before sending money is a smart course of action.
Did you also know that grandparent scams usually require the one being targeted to wire money over? You may not think that this is strange, but consider that there have been other methods that have developed over time. In fact, you're likely to meet more people that use PayPal over wire transfers. If this method is what they insist on, more than anything else, it's fair to approach the situation with caution.
Finally, if you're going to protect yourself from grandparent scams as much as possible, ensure that your experience on the Internet is secure. When you're online, you should have software that blocks viruses, trojans, and the like. A firewall should also be set up, though most computers have these implemented from the get-go. If you're not familiar with technology in general, ask a family member that understands it to help you out.
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For further details regarding grandparent scams and other financial topics, kindly contact Bobby Jain now.
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