On average, $350,000 is taken from people like you and I through various pension scams…
I know… that’s a scary thought. But we’re going to take that money back. These scammers will have no idea who they’ve messed with after we’re through with them.
That’s why I’m going to provide you with the tools to combat these scumbags, and take back that $350k that’s rightfully yours…
Nobody likes to be scammed, but losing $350,000 of your hard-earned retirement money is heartbreaking.
It’s been recorded that pension scammers stole $8.6 million in March alone. Picture all that hard-earned money gone.
I’m just glad I caught you at the right time, because watching out for these obvious signs of pension scams will save you from losing hundreds of thousands of dollars.
If any of these signs appear when you’re shopping for a “once-in-a-lifetime” investment, keep your money in your bank account and look elsewhere:
You receive an unsolicited offer
This could come in the form of a phone call, text, email, or even somebody knocking at your door, offering that “golden investment opportunity.” Politely decline, and warn your friends and neighbors of this possibly fraudulent activity.
Phrases to watch out for
Watch out for terms like “one-off investments” or “legal loopholes.” While you can absolutely find one-off investments that use legal loopholes, you never want the person who’s selling you the pension plan to use them.
If you’re offered an overseas account with a return of 8% or higher, it’s too good to be true. You should know by now that only the stock market, business, and real estate can garnish you returns like that… retirement accounts don’t come close.
Access your money early
If one of their selling points is that you can access your money before the age of 55 without a tax penalty, you’re looking at a pension scam. Federal law requires that you must be taxed on any early withdrawals.
If the fraudster—I mean, pension salesman—tries to pressure you into buying due to a time-sensitive offer, turn away. Pensions are not like retail items that have flash sales; they are to be taken seriously and researched thoroughly.
Scammers have become extremely intelligent with how they get their business. They’re known to clone legitimate websites so you believe that they’re an authentic business. If there’s any doubt, give the firm a call or call a pension organization like the Pensions Advisory Service for advice.
Nobody to contact?
If the website you’re on has little-to-no contact information, then be wary—scammers tend to cover their tracks by having very little contact information to trace them by.
The most important thing to remember is that you shouldn’t let these scammers stop you from investing your hard-earned money.
There are plenty of ways to avoid these scammers, and you can use any of our resources in order to find out where the best retirement, real estate, business, or stock market investments can be found.