With the busy holiday season already upon us, it’s usually a joyous time to celebrate the festivities with friends and family, full of goodwill, giving, and cheer. Sadly, it’s also prime time for crooks and scammers to target consumers, and senior citizens often unwittingly open the door to being scammed. 

According to the AARP, in 2022, three-quarters of consumers experienced or were targeted by at least one form of fraud. In 2021, Americans lost over $6.9 billion to fraudsters, including those that can be tied to the holidays, with requests from fake charities, holiday shopping, booking holiday travel, fraudulent communications about shipping problems, and more. Furthermore, scammers take advantage of the holiday season to zero in on seniors.  

Here are the Top 6 most common holiday scams and more importantly, helpful solutions to protect yourself and your loved ones:

 

1. Fake Charities  

Scammers take advantage of people’s generosity during the holiday season and create fake charities, GoFundMe campaigns and other charitable activities.  

Warning Signs: Be cautious of hard-sell tactics or vague language. Charities should never threaten, and donors should always be able to see exactly where the money goes. 

Solutions: Do your research before giving through   Always check the URL and charity name before donating. The same applies to GoFundMe campaigns.  Be sure to check your sources! 

 

2. Gift Card Scams & Empty Gift Cards 

Scammers love gift cards because they are almost impossible to trace. Many holiday scams involve buying and selling fraudulent gift cards. Scammers will often impersonate a bank or government agency and will try to trick consumers into giving up the numbers on the back of the card. 

Warning Signs: Make sure gift cards have not been tampered with. Check the back and see if the PIN has been exposed. Always get a receipt. Whenever possible, purchase the gift card physically at the store. Apart from a Visa or Mastercard gift card, the purchase of a gift card should never ask you to pay for an “activation fee.”  

Solutions: Use the gift card only at the store or website it was purchased from. If anyone charges “fees” or implies they “protect your money,” it is likely a scam.  

 

3. Grandparent Scams – Fraudsters “Phishing” as Family Members 

Scammers text, email and make phone calls posing as a grandchild in trouble and ask for money, usually through wire transfers or gift cards. According to the FBI, elder fraud costs victims $3-4 billion in losses each year. 

Warning Signs: The posing family member asks this transaction to be a secret. The message sounds strange. When in doubt, trust your gut and call the family member directly.  

Solutions: Educate yourself on common scams and how to spot them. Use a known phone number to contact the family member or friend claiming to be in trouble.  Do not send money or share your credit or debit card details with anyone you do not know or trust. Be cautious and avoid acting immediately, regardless of the situation. 

 

4. Fraudulent Emails or Texts from Trusted Companies 

Phishing/fraudulent emails pose as companies or government agencies the public trusts. During the holiday season, scammers send phishing messages claiming to be from companies like Amazon or Apple that offer exclusive discounts or, worse, claim that your account has been hacked. Scammers will send messages offering “free gifts” in return for sensitive information. 

Warning Signs: Be skeptical about unsolicited messages regarding special offers or prizes. Any unrequested email or text message should be treated with caution. Also, be wary if the message includes a link. Phishing scams try to direct users to a fake website or infect your device with malware. Other signs of phishing include strange spelling, grammatical errors, and formatting issues. 

Solutions: Ignore messages and texts from people you do not know. If in doubt, contact the company directly and ask if the message is legitimate.  

 

5. Missed Delivery Notification Scam Texts 

It’s common to be waiting on packages and deliveries during the holiday season. One recent scam involves fraudsters sending fake delivery notification text messages, in hopes that the user will click on the link. These scam texts lead to a fake website designed to either steal personal information, ask for a credit card number, or ask to send money directly to the scammer. According to Reddit, fraudsters create fake websites that look like the UPS site to steal information. 

Warning Signs: FedEx, UPS, and other delivery companies will not ask for a credit card or social security number to “find” the delivery. Take note if a link in the text takes the user to a site that is not on the official UPS, USPS, or FedEx domains — for example, an “IPS” fake logo that looks just like the “UPS” logo. If in doubt, go directly to UPS.com, FedEx.com and USPS.com websites.  All other variations of these domains are likely to be scams.  

Solutions: Track deliveries through the official shipper website using the tracking number provided only. Make sure to visit that website directly; do not use the link provided in a text or email. 

 

6. Holiday Travel and Online Airfare Scams 

With holiday travel back in full swing, many people are looking for cheap airline tickets for the holiday season. Scammers target travelers with schemes ranging from bogus flight-booking websites to fraudulent flight cancellation emails and sudden price increases. 

Warning Signs: A website or online marketplace is offering airline tickets to popular destinations at deep discounts. Scammers tout huge deals while trying to get users to suspend suspicions. Or a scammer may contact the user directly to ask to pay extra for a flight or are told the flight has been canceled and more money is needed to rebook it. 

Solutions: Always purchase airline tickets directly from the airline or through a reputable third-party seller that has customer service like Expedia.com, Travelocity.com, Kayak.com or Priceline.com.  If you receive any messages about your trip, contact the airline directly to make sure the message is legitimate. 

As always, it’s safe to work with a reputable travel agent to ensure travel availability and pricing from an expert in their field. 

Lastly, as a general precaution for added protection against fraud, consider an identity theft protection service. See Consumer Voice.org for some suggestions. 

As we revel in the joyous holiday season, it’s essential for seniors to remain vigilant against potential scams.  Protecting yourself from scams is a crucial aspect of making the most of the season with friends and family.  Even with the multitude of holiday festivities we hope you will enjoy at John Knox Village, or wherever you celebrate, stay alert and secure, to ensure a happy and scam-free holiday for all.  

From the popular Halloween Happy Hour and Pet Costume Contest to the all-day Thanksgiving Feast, from Christmas and Hanukkah celebrations to the annual New Year’s Eve bash, residents never run out of options to enjoy a joyous holiday season at John Knox Village. 

Keeping our residents on top of their “tech” game through classes and one-on-one assistance, JKV Technology Coordinator Jason Cook helps residents improve their tech-savviness, troubleshoot any technology questions, and make the most of mobile and technology-based devices.  Having our own in-house Technology expert is just one of the many “extras “John Knox Village offers that sets it apart.   

If you want to learn more about what JKV has to offer, contact us for a no-pressure conversation or a tour. 

As seniors step into retirement, they’re often at a crossroads about where they’d like to live as their needs change.  Given the emotional attachment many people have to their homes, it’s understandable why anyone would be reluctant to consider a move without an imminent reason to do so.  But the reality is a larger home can become a burden at a time when one might want to look towards simplifying life. 

There are many compelling benefits to downsizing that may give you good reason to consider moving sooner than later.  Let’s take a look at a few ways that deciding to move now might be the right move for you.    

You bought low.  Now sell high.

The real estate market has seen an unprecedented boom in home values over the past few years.  Now might be a great time to sell.  With homeowners reaping higher sales than ever, you could walk away with a nice sum of money.  It’s also worth noting that the sale of your primary residence may be exempt from capital gains taxes up to a certain threshold. *    

Hand off some of your monthly expenses. 

Even if you’ve paid off your mortgage, there are still considerable costs to owning a home, such as insurance, lawn care, utilities, interior and exterior maintenance, and property taxes.  You could save a substantial amount by moving into a smaller residence at a Life Plan Community where those costs are covered for you, with no financial surprises when unexpected repairs are needed.

Keep more money in your pocket, where it belongs.

The increase in monthly cash flow from having lower monthly expenses potentially means needing to take less from your retirement accounts and might even affect your decision about when you’d need to start collecting Social Security benefits.  Delaying taking Social Security benefits could result in a higher monthly Social Security benefit, when you do decide to begin collecting. *

Isn’t it time to simplify your life?  You’ve earned this.

Letting go of the clutter that often comes with living in a large home can give a boost to your well-being and clarity of thought.  Most people feel an emotional relief that comes from getting rid of things that are no longer needed.  Moving to a smaller space can reduce your stress and improve your quality of life, so you can spend time and energy on more enjoyable and fulfilling activities.

Become a social butterfly.

With less space to maintain, seniors can shift their focus from home maintenance matters to experiences and relationships.  Senior living communities can offer a full calendar of social and life enriching events, with many opportunities to be social and enjoy life. 

 

The decision to downsize in retirement can bring a multitude of benefits.  From living maintenance-free, financial savings and becoming part of a community, seniors can experience a richer life and greater overall well-being.  As people continue to explore senior living options, downsizing to a one-bedroom apartment stands out as an appealing, sensible choice for those seeking a fulfilling, comfortable lifestyle in their active retirement years.

John Knox Village of Florida has a multitude of housing options available for seniors, aged 62 and better, including bright, sunny one-bedroom apartments.  With so many floor plans to choose from, we’d love to tell you more.  Learn about what it means to live in a Life Plan Community, how it can give you financial security and simplify your life.  Learn more at www.johnknoxvillage.com, or contact us today for a no-pressure conversation, or to schedule a tour at (754) 208-4815. 

*Consult with your tax and financial advisors for guidance on Social Security benefits, and for the most up-to-date tax exemptions.

 

The decision to move to a Life Plan Retirement Community (also known as Continuing Care Retirement Community, or CCRC) is a wise investment in many ways, especially when older adults consider where they would like to age well with purpose, and what a perfect life looks like in retirement. Many Life Plan Communities (LPCs) offer rich social and cultural experiences, excellent health care, security, and peace of mind. Financial professionals and estate planners are increasingly advising clients to consider a move to an LPC as it is a responsible option that provides a rewarding lifestyle and ensures long-term health care if the need arises. Residents who choose to live in LPCs are relieved of the stress of becoming a burden to their family, friends and the state as they age.

According to AARP, “The chief benefit of LPCs/CCRCs is that they provide a wide range of care, services and activities in one place, offering residents a sense of stability and familiarity as their abilities or health conditions change. A resident can start out living independently…and later transition to assisted living to get more help with daily activities, or to skilled nursing to receive more medical care, while remaining in the same community.”

Moving to a Life Plan Community Makes Financial Sense

Older adults face a variety of choices when planning for their future lifestyle and health care needs. The rising cost of medical care in the U.S., especially long-term care, has made understanding options very important.

Investing in the future at a Life Plan Community like John Knox Village of Florida (JKV) in Pompano Beach is a proactive move. It comes with the added value of providing health care that may be needed and affords a tangible sense of security for aging in place. An LPC like JKV requires that a resident be in good health when moving in, who can then enjoy independent living in a beautiful home with an active lifestyle for as long as possible.

Scott Montgomery, Financial Advisor to high-net-worth families at Provenance Wealth Advisors in Fort Lauderdale, Florida says he has often seen clients procrastinate on making a plan by thinking, “I still have time.” But as he notes, “Things can change quickly.”  Says Scott, “This is another strategy – a way to ensure that if you run through your money, you’re not going to have to rely on your children.”  

Montgomery feels it is a moral responsibility for professional advisors to talk to their clients about long-term care.  He says, “If your financial advisor is not counseling you about long-term care, then reach out to someone who is.”

Life Plan Community Options

NaCCRA (National Continuing Care Residents Association) publishes a Consumer’s Guide as a reference on what to consider when choosing such a move. According to NaCCRA, “It is important, when contemplating a CCRC/LPC, and especially when comparing one to another based on price, to be sure to understand the different types of contracts which are offered.”

There are variations in contracts, however. The two main contracts to consider for moving to an LPC are “Type A” and “Type C”.

A Type A contract is often referred to as a full-care, inclusive contract.  At JKV, this contract covers:

• The entrance fee
• The monthly service fee based on the size of the home selected
• Unlimited future health care needs with admission to Assisted Living or Skilled Nursing
• All located on JKVs botanical, lush 70-acre campus

The Type C contract is usually referred to as a “fee-for” service contract. At JKV, the Type C contract provides:

• The same services as the Type A without the health care benefit:
  • With Type C, the resident pays for Assisted Living or Skilled Nursing care services as needed, out of pocket
  • JKV Residents are charged the prevailing rate for these services with a 10% discount

John Knox Village of Florida, Inc. is a not-for-profit, internationally award-winning Life Plan Retirement Community of choice for those seeking an upscale, enriched lifestyle, world-class programming, stress-free living, and if needed, unlimited use of health care services on campus, with 24/7 wellness nurses. JKV allows seniors to plan for their future needs while enjoying resort-style amenities, life-long learning programs and a full range of services that promote wellness of mind, body and spirit. Through unwavering commitment to excellence and guiding principles, the team brings the unique JKV experience to life every day for 1,000 residents.

 

Call to schedule lunch and a one-on-one visit with a Life Plan Consultant at 954-820-6199

www.johnknoxvillage.com