Spot These 10 Scams Before They Ruin Your Retirement

Granny scams

Scammers know there’s a good chance their elderly targets are grandparents. The call goes something like this:

“Hi, Grandma. Guess who this is.”

“Anna?”

“Yes. Can you send money to Western Union? I’m behind on my rent. Please don’t tell Mom and Dad. They’ll be so mad that I bothered you.”

This scheme has been around a while, but the Federal Trade Commission says a new twist has seniors increasingly mailing large amounts of cash — typically around $9,000 — to people claiming to be their grandkids.

The FTC says don’t act on emotion but try to call the grandchild on your own. Or, see if you can check out the story with someone else in the family, not necessarily “Mom and Dad.”