Protecting Your Nest Egg: The Scams Targeting Retirees — and How to Outsmart Them

Imagine getting a call in the middle of the night.
A shaky voice says, “Grandpa, it’s me — I’m in Mexico. I’ve been in an accident. Please don’t tell Mom or Dad — I just need $5,000 to get home.”

You’d do anything to help, right?
That’s exactly what scammers count on.

🎙️ This Week’s Podcast: “Protecting Your Nest Egg”

In this week’s episode of Healthy Wealthy Retirement, Mark Struthers shares how retirees are being targeted by increasingly sophisticated scams — some even using AI-generated voices and spoofed caller IDs that sound eerily real.

👉 You can listen here:

🧠 Why Retirees Are Prime Targets

Retirees hold most of the wealth in the U.S., and criminals know it.
They prey on emotion — not logic.

Common scams Mark covers:

🚨 “Grandparent” emergencies
💸 Fake calls from the IRS, Medicare, or Social Security
🏦 Phishing emails that look like Schwab or Fidelity
❤️ Online romance scams
🪙 “You’ve won a prize” sweepstakes or investment schemes

These scams all share the same traits: urgency, secrecy, and pressure.

🛡️ How to Stay Protected

Charles Schwab’s SchwabSafe® program guarantees reimbursement for unauthorized activity — but no custodian can protect funds you willingly transfer to a scammer.
That’s where awareness comes in.

Mark’s 7 Smart Protection Habits:

Use unique passwords or a password manager
Turn on two-factor authentication
Keep your devices and browsers updated
Freeze your credit (it’s free and reversible)
Limit what you share on social media
Add a Trusted Contact on your Schwab account
Review your accounts weekly

💡 If something feels off, stop. Verify. Call the official number on your statement — not the one that called you.

⚡ If You Think You’ve Been Hit

Call your bank or custodian immediately
Change passwords everywhere
File a report at IdentityTheft.gov
Freeze your credit and set up alerts
Document everything

Speed matters more than shame.

🧾 Free Download for Subscribers

We’ve created a free checklist to help you measure your risk:
“Am I at Risk of Having My Identity Stolen or Being a Victim of Fraud?”

It’s a simple yes/no worksheet based on real-world scenarios we see every day.

➡️ Get the Free Checklist" link=Am-I-At-Risk-Of-Having-My-Identity-Stolen-Or-Being-A-Victim-Of-Fraud (1).pdf

This is the same tool we use in our Sona Wealth reviews — and it takes just five minutes to complete.

🌿 Final Thought from Mark

“Protecting your retirement isn’t about paranoia — it’s about preparation.
The goal isn’t to hide from technology, it’s to use it wisely.
When you’re proactive, you can focus on what really matters — living a healthy, wealthy retirement.”

Stay safe and stay smart,
Mark Struthers, CFA, CFP®
Founder | Sona Wealth Advisors
www.SonaWealthAdvisors.com

P.S.
Know someone who might fall for a scam like the “grandparent” call?
Forward this email — it could save them thousands.

If you don't have a plan and would like to get one, schedule an Intro Meeting:

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To health and wealth!

Mark Struthers, CFA, CFP®, CRC®, RMA®

For current clients looking for a meeting:

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This commentary is provided for general information purposes only, should not be construed as investment, tax, or legal advice, and does not constitute an attorney/client relationship. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable, but is not guaranteed.