What if you lost everything you had saved for retirement overnight?
Surely, something like that wouldn’t happen to you. But here’s the reality—many older Americans have seen their life savings vanish because of scams. And as technology advances, scams are becoming even more sophisticated and harder to detect.
I’m Daren Chamblee, CFP®, a CERTIFIED FINANCIAL PLANNER™ based in Murfreesboro, Tennessee. I work with people locally and across the country to prepare for and thrive in retirement. Today, I want to share five practical ways you can protect yourself from scams—especially the ones that often target retirees.
1. Slow Down and Verify
Scammers thrive on urgency. If you ever get a call or email saying there’s a problem with your account, that you owe money, or even that a loved one is in trouble, pause.
Don’t act on impulse. Take a breath, then verify the source independently. Call your bank, your advisor, or the company directly using a trusted phone number—not the one given by the caller or in the email.
2. Never Share Sensitive Information Over the Phone
This one is simple but critical: your bank, the IRS, and Social Security will never call to ask you to confirm your Social Security number, account numbers, or passwords.
If someone does, it’s a red flag. Hang up immediately and report it.
3. Be Skeptical of “Too Good to Be True” Offers
From fake investments to bogus sweepstakes, scammers love to promise the impossible. If something sounds too good to be true, it almost always is.
Before making any financial decisions—especially if they involve urgency or secrecy—run it by your financial advisor. A second opinion could save you from a costly mistake.
4. Watch Out for Romance and Relationship Scams
This one can be painful to talk about, but it’s real. As we age, loneliness can make us more vulnerable to people who build trust online through dating apps or social media.
Once they have your trust, they often ask for money. If someone you’ve never met in person is requesting financial help, it may be a scam. Remember—you deserve relationships built on honesty, not manipulation.
5. Use a Trusted Team
Whether it’s a CPA, an estate attorney, or a fiduciary financial advisor, surrounding yourself with a trusted team is one of the best defenses against scams. When something feels off, pick up the phone and ask.
You don’t have to navigate these situations alone.
Protecting More Than Just Investments
As you approach retirement, protecting your financial safety matters just as much as managing your investments. If you ever feel unsure about something, don’t hesitate to reach out.
At First Family Wealth, we help people nearing retirement make wise, informed decisions—not just about their portfolios, but about their entire financial picture.
If you’d like help planning a secure retirement—or simply want a second opinion on something you’ve been shown—reach out anytime. Together, we can put your retirement on cruise control.
About the Author: Daren Chamblee, CFP®
A financial advisor based in Murfreesboro, Tennessee, Daren Chamblee has nearly 15 years of experience in the industry serving clients through financial and retirement planning. Daren specializes in working with employees of Nissan North America, and he currently has more than 200 clients who are current or retired Nissan employees, giving him unique insight into the financial and retirement challenges they face. You can schedule an initial consultation with Daren by clicking here.