by W. Diane Van Zwol

Created on: August 14, 2008   Last Updated: August 21, 2008

Scam Alert: Baby Boomer Investors Beware

"You are making an investment?"

There are an increasing number of scams on the internet. As baby boomers begin to spend more time on the internet, they will receive e-mails advising them of large amounts of money, that they supposedly will receive.

Imagine, for a moment, a group of baby boomers talking about their e-mails. Many of them may not realize that they cannot invest money this way. Contacting an investment firm may be a good idea.

"I just won fifteen million dollars in a UK lottery! I did not purchase a ticket, but it says that my e-mail address qualifies!"

"I got an e-mail about thirty one million dollars, that I inherited from someone who died in 2002! I am his sole beneficiary. I have never heard of the guy."

"Over the past few years, one e-mail after another has arrived in my mailbox, advising me of all of the money that I have won."

"Maybe they are scams? I just delete them."

"Here is another sixteen million dollars in this e-mail! This lady is dying and wants me to help her to give it to the poor!"

"This is wonderful and so exiting! Five million dollars! It is a fantastic gift. I can hardly believe it! I have to send them money, to transfer it to my personal savings account, right away!"

"All I have to do to get mine, is to send them all of my banking information!"

"Now what am I going to do with all of that money? I could go overseas, like I always wanted to do. Maybe I could go on a cruise?"

"Twenty five million in Euros, is on its way to me, as soon as I let them know where I live."

"How should I invest it? I don't know how to invest money."

"This person invited me to visit him in Ghana."

"I have one guy that that wants me to be his partner! He sounded mean. I hung up the phone on him."

"There must be something the matter with my bank, as they won't touch it!"

"I tried three banks in town, and none of them want anything to do with it!"

"In my mind, I already have it all invested! Let's see. I am ordering a new car and I am buying that three million dollar home on the outskirts of town, immediately. In fact, I already put an offer in on it. It cost me my life savings to do that."

"My e-mail said that all I have to do, is to setup an offshore account and they will look after the rest. They are sending me an ATM card, so that I can take fifteen thousand dollars out every day."

"Oh, they only asked me for twenty five hundred dollars, to arrange the transfer of my funds to my bank account."

"This one says that all of the money is already in the county and all I have to do is contact the delivery company. They already paid part of it. I just have to pay the rest. I guess I will have to do it, because I won't be able to reach them for three months."

"I have somebody lady that wants to move in with me, while we get all of the money invested."

"This guy told me to send my rent money. He says I will get it back."

"Why should you trust your money to an investment firm?"

Hopefully, an investment firm will be able to advise the baby boomers, that this is not really money to be invested. Baby boomer investors, beware!

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