Why Seniors Need to Beware of Financial Fraud

Sometimes our advantages can become our weaknesses. If you’re retired or getting close to retirement, you may have some great things going for you, such as an excellent credit rating, your own your home, without any mortgage, and a substantial retirement nest egg.

However, these great things, along with your age, can also put you at greater risk for a range of frauds targeting older people, who usually have more savings but are looking to earn more. We are going to look at a few of the most common frauds perpetrated on seniors, and what you can do to avoid being taken advantage of.

Job Contractor Fraud

If you own your own home, sooner or later it is going to need repair, especially if you have been living in it for some time and your health prevents you from making the repairs yourself.  Contractor scams happen when the contractor asks for the money up front and does not do it, does work that was not agreed upon, and then demands to be paid, or worst of all, does repairs that are bot necessary and then often overcharges for the work, too.

Other common variants include:

* Using admittance into your residence as a means to burglarize it

* Convincing owners to be part of fraudulent insurance claims

Reputable contractors don’t generally go knocking on doors to drum up business. If your house needs some work done, it is usually better to ask around for referrals, or investigate contractors listed by your local Better Business Bureau. See what reviews are posted about them, and look to see if there are any complaints against them before you ever agree to any work being done. Do not pay them until the work is completed to your satisfaction and as agreed upon.

Reverse Mortgage Fraud

Reverse mortgages can be a legitimate technique used in order to gain access to the equity, the money invested, in your home. These are most commonly referred to as home equity conversion mortgages (HECM). HECMs are insured by the Federal Housing Authority (FHA). They were created so that people 62 years and older could easily get hold of some of the equity from their principal residence and make life easier for themselves financially once they retired.  The mortgage would be paid off, and a reverse mortgage would value the house and then give you either a lump sum, annual payout, or monthly pay out for you to live on, but still let you and your partner stay in the house until both of you passed away.

A problem can occur with non-HECM reverse mortgages, however, especially ones that sound to good to be true. Some seniors have ended up as an unsuspecting pawn in a property-flipping scheme, or billed huge fees by an unscrupulous “advisor” that simply handles the standard paperwork involved with a normal HECM loan. If you’re interested in a reverse mortgage, your bank or a reputable mortgage broker is a good place to start. Again, no one reputable will never need to go door to door to drum up business.

Investment Fraud

While people of all ages are taken in by various investment frauds, seniors seem to be targeted the most often, most likely because they have substantial savings that can usually be accessed quickly.

Always be skeptical and double check with a trusted professional when it comes to your life savings. Don’t succumb to any time pressure tactics; if it’s something that you have to decide right now, your answer right now should be “NO.” False time limits are a common technique to get people to commit their hard-earned money to a fraud. They are not giving you enough time to think and make any sort of sensible decision or be able to dig deeper, such as on the Internet, to find out if the offer is a scam or not.

It probably doesn’t seem fair that you as a senior have to constantly be on the look out for fraud in your golden years, but you have worked too hard for your money and house to lose it to scammers. Always ask the right questions, and remember, if it sounds too good to be true, it usually is.

If you think you have been the victim of a scam, or a scammer has come to your door and is pressuring you, report it to the police. Hopefully the scammer will be stopped before he can harm anyone else. Don’t be an easy victim. Remain alert, and fight fraud.

FURTHER READING

For more great tips on how to make the most of your money, visit the Eternal Spiral Books Money Matters section.

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Love, Romance And Long, Lingering Looks… Seeing, Focus, And Believing In Romantic Relationships Part 2

AVOIDING THE ROSE COLORED GLASSES
Keeping that spark alive is also a question of clear vision, and not viewing everything through rose-colored glasses. The person you have sparked with may be great as a date, but as a person you want to share a long-term future with? He might be Mr Right Now, not Mr Right.

Again, this is fine if you’re both clear and honest about your desires and expectations. If you don’t see eye to eye,  and each have a different focus, and a different vision of the future, however, there will be a lot of resentment, anger, and frustration, which will eventually suffocate even the best relationships.

A CHANGE OF FOCUS?
Romance can also involve looking at a person you already know in a whole new way.  In other words, a change of focus.

For instance, there’s the ‘person next door’: guy or girl you have tons in common with, and spend so much time with, that you get to the point where you would rather be with them than anyone else.

Does shifting your focus from the platonic to the romantic involve a slow burn, major sparkage, or idle curiosity, or convenience?  Or an avoidance of loneliness?

DIFFERING POINTS OF VIEW
There’s nothing wrong with any of these reasons, but it is best to be honest about it. Otherwise, from that person’s point of view he or she might be turning you into ‘the one’ and you’re just looking for a friend with benefits. Again, it is a question of focus.

LOOK WITHIN CLEARLY
It’s best to take a long look at yourself first, before engaging in a relationship of this sort.  Even worse, if you live in close proximity, it could be the romantic equivalent of dumping garbage or even toxic waste on your own doorstep. Not a good idea!

The best way to decide if the person is Mr. Right or Mr. Right now is to be honest about who you are and where you want to go in life. If you can picture them on that journey into the future with you, then they may be worth spending time on. Just remember, you can’t get back any wasted time if they do not have the same view of the future that you do.

 

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Love, Romance And Long, Lingering Looks… Seeing, Focus, And Believing In Romantic Relationships Part 1

Love, romance and long, lingering looks…

That’s the stuff of what romance is made of, right?

Well, yes. In part.

LOVE AT FIRST SIGHT

There is nothing more exciting than meeting someone for the first time and feeling that spark. Or, with any luck, that bolt of lightning.

However, it doesn’t always strike, and yes, sometimes it can strike twice—or more. And sometimes it can also be a disaster.

There is nothing better than that rush of electricity and energy when you first meet a new romantic interest. But it can also fizzle out very quickly without additional energy being put into the relationship, hopefully on both sides.

TAKING A SECOND LOOK
Yet let’s face facts—how many guys really want to WORK on a relationship? They work from 9 to 5, sometimes longer, so for most guys, the high maintenance relationship is not something they are going to be interested in long-term.

For both genders, there is often the naïve assumption that relationships are just totally natural and happen all by themselves.

Then there is the other end of the spectrum—”I do all the work in this relationship.”

Let’s go back to that spark for a minute.  What if you were able to re-capture that sensation over and over again?  Eye contact, flirtiness, light touches and caresses, without being too suffocating, can all maintain that feeling of when you first met. It is all a question of focus.

It doesn’t sound like too much hard work, does it? You don’t have to cook gourmet meals, follow the Cosmo sex articles to the letter, or make sure his socks are ironed, for your man to think you are awesome, perfect even, so long as you keep that spark alive.

Read on in:
Love, Romance And Long, Lingering Looks… Seeing, Focus, And Believing In Romantic Relationships Part 2

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Foreclosure: How to be more Pro-active to Save your Home

Stopping foreclosure might not always be possible, but if you do nothing at all, you will definitely not be able to stop it.

If it is the difference between keeping hope alive, and keeping your home, or just giving up and hiding, choose to be more pro-active if you think you are in danger of foreclosure.

There are many different things that you should consider when attempting to stop a foreclosure. First of all, remember that it has happened to many other people besides yourself. It does not make you stupid, or a bad person, it just means that you need help. You need a reality check, and you need a plan on how to deal with foreclosure.

If you are at least three months behind on your monthly mortgage payments then you are definitely at higher risk of losing your home and there probably will not be anything you can do if you choose to wait until then before ever attempting to be proactive in any way.

If some extra bills have come up and you are already thinking that you might possibly have to put off paying your monthly mortgage payment, go ahead and give the mortgage company a phone call. By taking action before something happens, just when you suspect that it may, you are being proactive.

People who end up in financial trouble for whatever reason who are on their toes are typically the ones that can and will prevent foreclosure on their home.

You must be assertive in trying to make arrangements with your mortgage company because if all you do is sit around and cry about being behind on those monthly payments, they are not ever going to want to speak with you about anything.

Trust me, as unbelievable as it may sound, the mortgage company truly does NOT want you to lose your home due to foreclosure. They really don’t want an empty house that they can’t sell, or will have to sell cheaply. They want regular monthly payments coming in, especially all the lovely interest you are paying them!

Maybe they should have possibly used better judgment whenever they were approving you for any type of mortgage loan and letting you purchase a home through their lending company. They are normally very willing to speak with you to try to work out some sort of solution.

There is no reason at all for you to just wait around for them to call. You can and should make the first move. That will look really responsible to them and they will absolutely take note of that responsible behavior and pro-active attitude,  and will more than likely allow you to tell them the entire story as to why you were late on your monthly mortgage payments.

Once you have discussed your difficult circumstances with them, and hopefully some sort of plan for what to do to make up the arrears, and how soon you think you can do this realistically,  story with them, chances are they will take your suggested payment plan seriously.

If you suggest you will get a second job, or your wife will go back to work part-time, or you show them a well-thought out household budget that you will stick to, then changes are they will be willing  to work out some type of payment arrangement with you, often right on the spot so you can avoid foreclosure.

It does not always work out, but being pro-active is going to get you much closer towards preventing foreclosure than just giving up.

Remember, whenever you are planning a budget, make sure you take care of the most important aspects first–housing, utilities, food, car if you really have no other means of getting to work and tending to your shopping and so on.

Everything else is OPTIONAL, including credit card payments. Can you get some wiggle room there? Get a lower APR on the cards you do have?

A good sound budget may mean tightening your belt for a number of months, but it is better to do whatever you can NOW to possibly stop foreclosure, so that you won’t lose all the equity you have in the home, and lose  everything you have worked so hard for throughout the years just because you have hit a bad patch.

For more information on foreclosure and what you can do to be more proactive about stopping foreclosure, visit:
http://www.hud.gov/foreclosure/index.cfm

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How To Double Your Dollars to a Million Dollars

Here’s a simple game that can take you from absolute poverty to real wealth. In fact, all you need is a penny to get started. Even if you think you don’t have a cent to your name to spare, you can still try this game.

After all, almost anyone will give you a penny if you ask for one. Or, dig around in your pocket or sofa cushions and find a cent.

Once you have that penny, double it and keep on doubling your money until you reach $1 million.

The game is divided into 28 steps. The first steps are so small that you can’t possibly fail. You will start to succeed immediately, before you ever start to worry that you might not be able to succeed.

Steven Goldsmith, the inventor of this program, has also made starting easy, whereas programs with really big bold claims are often difficult to get going with.

So, here are your 28 steps to $1 million dollars:

Step 1 Find one penny on the ground, or ask someone for it.

Step 2 $.01 becomes $.02

Step 3 $.02 becomes $.04

Step 4 $.04 becomes $.08

Step 5 $.08 becomes $.16

Step 6 $.16 becomes $.32

Step 7 $.32 becomes $.64

Step 8 $.64 becomes $1.28

Step 9 $1.28 becomes $2.56

Step 10 $2.56 becomes $5.12 (Let’s round it down to $5 to make your math calculations easier.)

Step 11 $5 becomes $10

Step 12 $10 becomes $20

Step 13 $20 becomes $40

Step 14 $40 becomes $80

Step 15 $80 becomes $160

Step 16 $160 becomes $320

Step 17 $320 becomes $640

Step 18 $640 becomes $1,280

Step 19 $1,280 becomes $2,560

Step 20 $2,560 becomes $5,120 (Round it down to $5,000 to make your calculations simpler.)

Step 21 $5,000 becomes $10,000

Step 22 $10,000 becomes $20,000

Step 23 $20,000 becomes $40,000

Step 24 $40,000 becomes $80,000

Step 25 $80.000 becomes $160,000

Step 26 $160,000 becomes $320,000

Step 27 $320,000 becomes $640,000

Step 28 $640,000 becomes $1,280,000 (Round it to $1 million to make it simpler.)

Basic Rules

1. You must ask for or find the first penny to get started.

2. You can only use the money that is part of the game to earn more money. You are not allowed to add any additional funds once you start.

3. During the first 15 steps, up to $160 dollars, you can only use the actual dollar bills and coins that you have generated to that point.

4. If at any time you more than double your money, you must spend the surplus on yourself before you move on. You’re not allowed to use the extra toward future steps in the game.

5. The doubling does not have to occur in a single transaction. You can find multiple ways to double your money until you reach the next step.

6. You must keep a diary of your progress as you work your way through your steps in order to track your progress in doubling your wealth. Do you beg, borrow, turn the cash into more profits, what?

7. Only worry about the step you are on. Just worry about doubling up to the next level. Once you are on that level, then you can start coming up with more strategies to reach the next, higher step.

8. You are not allowed to spend any of the money until you have reached a million dollars. You are not allowed to borrow it and pay yourself back later, or add more than you already have. Use only the money in the game and make it work for you.

9. If you lose money, you must drop down to the step which is nearest the one that you currently have in your possession and start to double up again.

10. You can use your own labor, but that will not usually help you much in the later steps unless you plan to make$1 million very slowly. But if you want to use it to make more money through your work, you can.

What You Will Gain (Besides a Million Dollars)

In playing this game, you will learn that:

1-You can achieve great things, even if you begin with nothing. The only resources you need to get started are a penny and yourself.

2-As your money grows step by step, you grow with it. As you work your way through the step, you will gradually change your money mindset to start thinking more about how the wealthy really manage to become wealthy. They do it in a number of ways, and you can too.

Becoming wealthy is about sales, marketing, and people. You can’t trade your time and labor for a significant amount of money. Most people believe that making a million dollars is about working harder and longer, because that’s the only experience they have when earning money.

But it is actually about working smarter, and using what you have to make more.

3-You can reach your goals with different strategies.

Going from $40 to $80 will be easy compare to $160,000 to $320,000, but keep at it. As you’re going through the program, be sure to write down the strategies that you’ve used to accomplish each step. The way your approach varies throughout the game will provide valuable insights as you continue to grow your wealth.

4-You can keep going.

You might start to fear failure at about the half-way point, but if you keep playing the game and following the rules, you can win.

It is all about having a more wealthy mindset.

What will you do when you gain all this money? You will probably be running a successful business, and indeed, more than one, so you will deserve whatever you would like to do with the $1.28 million you have earned. Take that $280,000 in ‘mad money’ and bank it or spend it. Then start thinking about playing the doubling game more….

FURTHER READING

For information on how to start your own business, go into direct sales, and more, visit Eternal Spiral Books to learn more from their transformational titles.

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Keeping the Romance in Your Relationship Part 9

KEEPING YOUR ROMANCE AGREEMENT

One of the things we love so much about dating is the spark, sizzle, spontaneity, and the chance to learn new things about each other. With any luck, your romance agreement will help you foster that sense of wonder and excitement through the shared activities you plan and the atmosphere of love you create.

Relationships are all about relating. As my yoga teacher once said, you are relaying information. It will last only as long as the other person chooses to continute communicating with you, that is, listening to what you have to say, and saying what he feels.

Love, communication, sex, are all ACTIVE choices.  No one can make that choice for you. No one can or should force you to.  You choose positive or negative, you can choose loving or harsh.

You can choose to keep your romance agreement, or not. You can’t force a garden to grow any faster by tugging at the shoots. But by patiently focusing on creating an atmosphere of love each day and night, and by scheduling regular times for lovemaking and sharing, you will be actively planting the seeds that will help your relationship flourish like a garden in spring.

4525 words total

REFERENCES IN ARTICLE
All quotes are taken from:
The Columbia World of Quotations,  1996.
Anonymous Limerick
Philip Larkin  (June 16, 1967). Annus Mirabilis, st. 1, High Windows (1974).
Karl Kraus (1874–1936), Austrian satirist. repr. In Anti-Freud: Karl Kraus’s Criticism of Psychoanalysis and Psychiatry, ch. 8, by Thomas Szasz (1976). Die Fackel, no. 229 (Vienna, July 2, 1907).
BIOGRAPHY:    Columbia Encyclopedia.

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The Great Depression-Could You Be Depressed?

A lot of people talk about the Great Depression which started with the Stock Market Crash of 1929, but we have certainly been undergoing another Great Depression since the markets took a tumble in late September and early October 2008, and there seems little good news at the moment with respect to recovery from this recession.

The stress and strain of bad news all the time and everyone being worried about making ends meet can take their toll. Money-related stress can be responsible for many health conditions and symptoms. Depression can also be triggered by stressful events in your life, particularly if you have been suffering from health problems.

Depression is a chemical imbalance in the brain. While only a doctor can make a diagnosis on depression, there are several well-known signs and symptoms that accompany clinical depression which can help identify if you are just feeling a bit down or ‘blue’ or have a condition that requires treatment.

Even if you have had a major life event that is happy, such as the birth of a new baby, this can led to stress and/or depression. Up to 10% of women report suffering from post-partum depression. Many people avoid seeking treatment for depression because they believe depression is an embarrassing illness that shows they are ‘weak’ or ‘crazy’ or can’t cope. But it is a treatable medical condition no different from cancer or diabetes-if you would not be embarrassed to get help for them, you should not be embarrassed to seek help for depression.

Other people avoid seeking help because they think the only treatments available are harsh drugs with lots of side effects. The truth is that there are many different effective and safe treatments for depression, including natural remedies. They can be used alone or in combination with one another.

If you are feeling like you are dragging in the morning, or you seem to be lacking in motivation or often find yourself easily irritated, it might be time to get to the root cause of your moods and consult with your doctor to see if you are suffering from stress, or depression.

FURTHER READING
How to Cope With Money-Related Stress: Dealing With Financial Stress During the Recession

Transforming Stress Into Success: How to Minimize Stress and Maximize Success in Today’s Economy

How to Cope with Postpartum Depression

Treating Depression and Anxiety with Natural Remedies

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