Beware Archives - DR News - News, Retirement, Finance

Medicare Patients Beware: New Cards and Numbers Issued to Prevent Fraud

Lancaster, Pennsylvania – Medicare beneficiaries in Lancaster have been receiving unexpected new cards in the mail, sparking concerns about potential scams. Viewers have been reaching out to the 8 On Your Side team with questions regarding these unsolicited replacements and whether they are legitimate. One viewer shared their experience of receiving a notification from Medicare stating that a new Medicare number and card were being issued due to an issue with their current number. After …

Retirees Beware: 10 States Taxing Social Security in 2024 Revealed

Miami, Florida – Retirees across the United States are faced with the decision of where to settle down in their golden years, considering factors such as tax implications, cost of living, and overall quality of life. As America’s aging population looks to maximize their Social Security benefits and stretch their retirement savings, the choice of state can play a significant role in determining their financial well-being. According to a recent survey by The Charles Schwab …

Retirees Beware: Social Security’s Day of Reckoning Approaching Fast

New York, NY – Social Security beneficiaries in the United States may face a looming financial crisis sooner than expected, as experts warn of the program’s unsustainable path. With an aging population and dwindling worker-to-beneficiary ratio, the future looks uncertain for retirees relying on this vital source of income. Recent reports indicate that the Social Security Trust Fund is depleting rapidly, raising concerns among economists and policymakers. Without significant reforms or adjustments, current projections suggest …

Social Security Beneficiaries Beware: Fake News of $600 Increase Causing Anxiety and Confusion

Denver, Colorado – As approximately 68 million Americans rely on Social Security benefits, the internet has become a hotbed of misinformation and fake news surrounding changes to the system. This surge in false information has led to confusion and anxiety among beneficiaries seeking credible updates on the state of their benefits. Recently, there has been a proliferation of fake stories, with some outlets taking advantage of the public’s interest in Social Security. These stories, often …

Scam Alert: Beware of Medicare Card Identity Verification Scam

In Staten Island, New York, residents have recently been warned about a scam targeting Medicare recipients. The Federal Trade Commission (FTC) issued an alert cautioning individuals to be wary of phone calls requesting identity verification for a new plastic Medicare card. This deceptive tactic aims to deceive unsuspecting victims into divulging valuable information. Scammers often pose as authorities or medical professionals, preying on individuals to extract personal details and money. The FTC emphasized the importance …

Pension Fund Withdrawals Caution: Beware of Hasty Decisions

Johannesburg, South Africa – As the economy continues to struggle amidst the ongoing pandemic, financial experts are cautioning individuals against hasty withdrawals from their pension funds. With worries looming over the state of retirement savings, Alexforbes has predicted a staggering R55 billion in industry outflows due to the implementation of the two-pot retirement system. The two-pot retirement system, introduced to streamline the process of withdrawing funds, has sparked concerns among retirees. Many are left wondering …

Social Security Benefits: Beware of False Information on Potential COLA Increase in 2025

Los Angeles, California – With Social Security beneficiaries eagerly anticipating updates on potential increases in benefits, rumors circulating online have caused confusion and misinformation. The Social Security Administration has officially clarified that any changes in benefits for 2025 will only be announced in October this year. The annual Cost of Living Adjustment (COLA), which determines adjustments to Social Security benefits, is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), …