MONROE - Seniors and others need to be aware of two more scams.
One of the scams targets seniors with the suggestion they donate money to change legislation to increase their Social Security benefits.
Rep. Tammy Baldwin, D-Wisconsin, said her office has received calls from people who have been asked to send money to help change legislation. Mailings to seniors sometimes suggest Baldwin supports the fundraising effort.
"I want to make it clear that every citizen is welcome to contact me about legislation or federal issues that concern them without cost and without the need of a middleman," Baldwin said.
People should research any organization that asks them to send money to lobby on their behalf, she added. She also said people should call, e-mail or send a letter to her office with any concerns.
A press release sent from the office of the commissioner of insurance warns seniors to be careful of people who call themselves "senior specialists" and to also be aware of "free lunch" seminars.
The office suggests seniors:
• Question the credentials of experts. These people use terms such as "certified," "senior advisor" or "senior consultant."
Seniors shouldn't be afraid to ask about the person's qualifications and training.
• Beware of the "free lunch" seminar. According to the Financial Industry Regulatory Authority, four out of five investors, age 69 or older, received at least one invitation to a free lunch investment seminar in the past three years and three out of five received six or more.
"There is often a catch to a 'free' seminar," the office warns.
• Ask if the product makes sense to them.
People should always understand what is being sold to them.
• Never make a decision at a seminar. Avoid high-pressure tactics and amazing financial returns.
• Report scams. To report a scam, contact the local police department or call the commissioner of insurance at (800) 236-8517.
One of the scams targets seniors with the suggestion they donate money to change legislation to increase their Social Security benefits.
Rep. Tammy Baldwin, D-Wisconsin, said her office has received calls from people who have been asked to send money to help change legislation. Mailings to seniors sometimes suggest Baldwin supports the fundraising effort.
"I want to make it clear that every citizen is welcome to contact me about legislation or federal issues that concern them without cost and without the need of a middleman," Baldwin said.
People should research any organization that asks them to send money to lobby on their behalf, she added. She also said people should call, e-mail or send a letter to her office with any concerns.
A press release sent from the office of the commissioner of insurance warns seniors to be careful of people who call themselves "senior specialists" and to also be aware of "free lunch" seminars.
The office suggests seniors:
• Question the credentials of experts. These people use terms such as "certified," "senior advisor" or "senior consultant."
Seniors shouldn't be afraid to ask about the person's qualifications and training.
• Beware of the "free lunch" seminar. According to the Financial Industry Regulatory Authority, four out of five investors, age 69 or older, received at least one invitation to a free lunch investment seminar in the past three years and three out of five received six or more.
"There is often a catch to a 'free' seminar," the office warns.
• Ask if the product makes sense to them.
People should always understand what is being sold to them.
• Never make a decision at a seminar. Avoid high-pressure tactics and amazing financial returns.
• Report scams. To report a scam, contact the local police department or call the commissioner of insurance at (800) 236-8517.