socialsecurityfraudweb

Recently, the Social Security Administration announced that they are taking action in an attempt to crack down on Social Security fraud. With the biggest Social Security day of the year, October 11, fast approaching, where Social Security beneficiaries find out how much, if any, of a “raise” they are going to get for the year. Anyone can fall victim to Social Security fraud, including retirees who rely on their benefits to pay the bills, and who are anxiously awaiting the October 11th announcement. This is why it is increasingly important to stay proactive, learn about potential scams that are going on, and take the following precautions to help protect yourself from falling victim to Social Security fraud.

Protecting your Social Security number by keeping your Social Security card safe is an important first step in being proactive. If a criminal gets ahold of your Social Security number, they may gain access to your benefits and even your identity. Therefore, it is important to store your card in a secure location and never carry it around with you. Also, dispose of any documents that contain your Social Security number properly, using a shredder if possible.

Next, never give out your Social Security number over phone, internet or mail if unsolicited. Make sure you know who is getting your information and that they are safeguarding it as well. If you do receive a call or email with someone asking for your information, contact the SSA for advice and tell them you suspect fraud. This could help protect others from potential crimes and minimize damage.

For those retirees who are already collecting Social Security, make sure that you are familiar with the payment schedule. This way, if a payment doesn’t come through when it’s supposed to, you can report it right away and ensure that your money is safe. For those who have not yet started collecting their Social Security, it’s a little harder to monitor. However, if a thief gets ahold of your information, they may file for benefits on your behalf and direct the payments to their own accounts. One way to help avoid this happening is to create an online Social Security account so you’ll know if anything goes wrong.

You have been paying into Social Security your whole working life, now is the time to make sure that you get all that you’re entitled to by taking these steps to protect yourself from Social Security fraud and scheduling a meeting with your trusted financial advisor. In this meeting, you can also learn strategies for optimal Social Security payouts. At SHP Financial, we will work with you to capitalize on your strengths and fill in your weak points with a strategy that takes all possibilities into account. Click here to visit us online today and schedule your complimentary financial review.

 


The content presented is for informational purposes only and is not intended as offering financial, tax, or legal advice, and should not be considered a solicitation for the purchase or sale of any security. Some of the informational content presented was prepared and provided by tMedia, LLC, while other content presented may be from outside sources believed to be providing accurate information. Regardless of source no representations or warranties as to the completeness or accuracy of any information presented is implied. tMedia, LLC is not affiliated with the Advisor, Advisor’s RIA, Broker-Dealer, or any state or SEC registered investment advisory firm. Before making any decisions you should consult a tax or legal professional to discuss your personal situation.Investment Advisory Services are offered through SHP Wealth Management LLC., an SEC registered investment advisor. Insurance sales are offered through SHP Financial, LLC. These are separate entities, Matthew Chapman Peck, CFP®, CIMA®, Derek Louis Gregoire, and Keith Winslow Ellis Jr. are independent licensed insurance agents, and Owners/Partners of an insurance agency, SHP Financial, LLC.. In addition, other supervised persons of SHP Wealth Management, LLC. are independent licensed insurance agents of SHP Financial, LLC. No statements made shall constitute tax, legal or accounting advice. You should consult your own legal or tax professional before investing. Both SHP Wealth Management, LLC. and SHP Financial, LLC. will offer clients advice and/or products from each entity. No client is under any obligation to purchase any insurance product.
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