Take-Aways From a Seminar About Fraud

 One of the activities that I pack into my busy schedule is volunteering as a room host for the same non-profit educational foundation, Master the Possibilities, that I am a paid instructor for. In short, I take attendance at other faculty members’ classes and get to learn a lot of interesting things for free.

I recently attended a class about fraud and below are my key take-aways:

 

Multiple Channels of Fraudulent Outreach- There are many ways that fraud victims are contacted including by phone, text, and e-mail. Also, pop-up messages on a computer with fake virus warnings that trick people into taking action that exposes personal information. The pop-ups may tell victims to call a “tech support” number and then panic them into providing remote computer access, personal identification information, or payment for fake fixes.

 

Fraud vs. Scam- The terms fraud and scam are closely related, but they aren’t exactly the same. Fraud, a broader term, refers to intentional deception used to gain something of value (like money, property, or identity) from someone else. Fraud can happen in many settings. Scam is more of an everyday term. It refers to a specific trick or scheme designed to deceive a person directly, often online, over the phone, or in person, to steal money or information. Scams are a type of fraud.

 

Skimming Devices are Passe’- Bluetooth technology is increasingly being used in place of traditional skimming devices to steal credit card information. Criminals discreetly install Bluetooth-enabled skimmers on card readers or gas pumps and retrieve data wirelessly (think laptops in a parking lot) from a 30 foot range away. Bluetooth skimming makes detection harder, allowing thieves to collect card numbers remotely and avoid frequent physical recovery of devices.

 

Tap to Pay- Tapping a credit card (i.e., contactless technology) is the safest and fastest way to pay for purchases. It uses encrypted technology that protects your credit card number. Transactions are completed in seconds, reducing time at checkout and limiting exposure to fraud. Tap-to-pay cards generate a unique, one-time code for each transaction, which helps prevent hackers from reusing stolen data. This feature makes it much more secure than swiping or inserting a chip card.

 

Keep Your Credit Card Close- Follow a personal decision rule that states “nobody ever takes my credit card out of my sight.” While most employees are honest, dishonest waiters or clerks have an opportunity to skim a card or snap a cell phone photo of card numbers and misuse your data. Three alternative payment options at restaurants are 1. pay with cash, 2. request a remote credit card payment device, or 3. follow a waiter to a cash register to oversee the transaction. Granted, the last two can be awkward but they do reduce the risk of fraud.

 

Three More Things- 1. Don’t do Facebook games or quizzes (e.g. “Find a dog that looks like you”) that require answers to questions that could also be security questions, 2. Pull your credit report at least once a year to check for errors and evidence of identity theft, and 3. Freeze (block) your credit to prevent new (fraudulent) credit from being opened in your name and thaw (unlock) your credit for 24-48 hours if you need to borrow money, open a bank account, or get a new utility service.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Money Myths and Misperceptions

Last month (Financial Literacy Month), I attended a virtual conference for financial educators sponsored by Next Gen Personal Finance. One of the sessions was about money myths and misperceptions. Below are 12 statements and a brief explanation of why they are false:

“The most common scam contact method is e-mail”  FALSE

The #1 scam contact in 2025 was internet platforms (e.g., social media and What’s App messaging).

 

“Carrying a credit card balance can improve your credit score” FALSE

What’s needed to improve credit is to use a credit card regularly and pay at least the minimum due by the due date.

 

“Buy Now, Pay Later (BNPL) is not a form of debt like credit cards are” FALSE

When you use BNPL, you are borrowing money to make a purchase and agreeing to repay it later.

 

“There is no reason to save for retirement before age 40” FALSE

This myth ignores one of the most powerful forces in personal finance: compound interest growth.

 

“Buying a home is always better than renting” FALSE

Buying isn’t universally better. It depends on your finances, timeline, and local housing market.

 

“You only have one credit score” FALSE

Different credit scoring models exist and there are also multiple versions of each (e.g., different FICO scores).

 

“You can be too old to invest in stocks” FALSE

There is no age limit on investing in stocks, which historically help protect against inflation.

 

“At age 40 (or 50), it’s too late to start saving for retirement” FALSE

You still have time for growth because time + compound interest can grow meaningful savings.

 

“Making minimum payments on a credit card is fine” FALSE

Making only minimum payments can keep you in debt for years and cost you a lot in interest.

 

“If an item is more expensive, it’s better” FALSE

Being expensive doesn’t guarantee it’s better. It may just be priced higher (e.g., brand names).

 

“Stocks are too risky” FALSE

Risk depends on how you invest, not just what you invest in. Also risk varies widely within stocks.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Navigating Fintech and Financial Fraud

I recently attended a webinar about investment fraud sponsored by OneOp. The speakers were from the U.S. Securities and Exchange Commission (SEC). Below are six key take-aways:

FinTech Platforms-Financial technology (FinTech) is increasingly being used for banking, lending, bill payments, and wealth management. Investment advisory platforms typically include an initial assessment through an online questionnaire (e.g., goals, age), automated portfolio recommendations, and automated management. Fees/commissions vary widely among providers. SEC-registered platforms are subject to examinations and enforcement and have SIPC insurance against insolvency.

 

Online Gambling- Research suggests money spent on online sports betting overwhelmingly comes from money that was previously spent on more stable, long-term investments like retirement savings accounts. One study found that bettors spent, on average, $1,100 per year on online bets. For every dollar spent on betting, bettors put $2 fewer into investments. The study author (Scott Baker, Northwestern University) concluded “Bettors are looking for the big win at the expense of savings.”

 

Modern Twists on Old Scams- Fraudulent individuals or public companies may use the promise of artificial intelligence (AI) and emerging technologies to lure investors. Bad actors love to use the latest trends or events to promote outright frauds. Watch out for heavily promoted microcap stocks that may be the focal point of a “pump and dump” scam. Also beware of messages claiming to come from companies and government agencies. AI makes it easy to clone voices and make fake videos.

 

Advantages of Diversification- Diversification can lower the risk of investing. If a single company or sector loses value, exposure to other investments may limit their losses. Broadly diversified, low fee index mutual funds or exchange-traded funds and target date funds are easy ways to achieve diversification. For example, the Standard & Poor’s 500 index tracks the 500 largest U.S. publicly traded companies and total stock market funds offer even broader diversification.

 

Market Timing- Market timing (i.e., moving money in and out of the stock market to try to track high and low prices) is difficult and expensive. A Library of Congress study found that active traders are more likely to underperform the market. In addition, frequent traders typically pay higher taxes than investors with long term “buy and hold” investments. The best and worst days in the stock market tend to happen close together.

 

Account Protection- The SEC offered the following advice to protect online accounts from fraud: pick strong passwords and keep them secure, use multi-factor authentication (e.g., texted or e-mailed codes) or biometric safeguards (e.g., facial characteristics, fingerprints, retinas, and voices), and turn on account alerts. Also, avoid using public wifi for online access, be careful clicking on links, and beware of relationship scams and affinity fraud scams that target specific groups.

 

For additional information about investing and investment fraud, visit www.investor.gov.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

Beware of Frauds and Scams

 

Not a week goes by, it seems, when we don’t hear about the hacking of a large third party data base that stores our personal information for its clients (e.g., hospitals and employers) without our knowledge or consent. This makes us vulnerable to online scams and fraud in general.

 

Below are important things to know to avoid becoming a fraud victim:

¨    Nobody is Immune- Scams can happen to anybody regardless of age, income, educational level, etc. That said, older adults are often targeted because they have more wealth and are generally less tech savvy than younger generations. For example, the 352 area code in central Florida is a prime target because it includes a large older adult community called The Villages.

 

¨    Decision Rules are Helpful- Here are three examples. 1. Do not answer the phone if you do not know who is calling. Let it go to voice mail and block the number. 2. If someone cold calls to “verify your identity,” hang up. 3. Don’t “sit on it” if you think you were defrauded. Act immediately to report a scam by calling your bank, credit card company, and/or local police department’s non-emergency number. In other words, get help immediately!

 

¨    Common Fraud “Red Flags”- Here are three examples. 1. Banks, the IRS, Social Security, and Medicare will not call you to “verify information.” 2. If there is actually a warrant for your arrest, authorities will come to get you; they will not ask you for information or money. 3. Requests to pay fees for prizes or to “fix’ fake crimes are common giveaways, as are requests to send money using Bitcoin ATMs, prepaid debit cards, and the numbers on gift cards.

 

¨   Grandchild Scam Methods- A victim gets a call claiming to be from a grandchild in trouble. Perhaps a realistic snippet of their grandchild’s voice is harvested from social media or created using artificial intelligence (AI). A red flag for a grandparent scam is the fake “grandchild” saying something like “I’m badly injured….please talk to this person [fraudster].” The best protection is checking it out. If you are a grandparent, call your grandchildren or their parents.

 

¨   “Love” Can Hurt (Financially)- Romance scams often go on for months so fraudsters “build a bond” before asking victims for money. They often begin on social media and dating apps where fraudsters tell victims they want to get to know them. Connections are also made via  online games such a poker and “Words With Friends.” After a while, they will try to speak to victims on the phone and may send a fake photo. There may even be talk of a future wedding. Fraudsters then ask for money with an excuse such as medical bills or paying for a plane ticket. Experts advise ceasing all communication and never sending money to people you meet online.

 

¨   Fake Shopping Deals- This is where fraudsters pretend to be a legitimate business (e.g., Walmart, Talbots) and bait people with extremely low prices, often with fake ads on social media. They then take victims’ personal information and money but never send ordered items. The best way to avoid this scam is to only click on online shopping links that you search for.

    This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Scams, Schemes, & Fraud: Tips From Law Enforcement

 

I recently attended two separate programs about consumer fraud, The speakers included a county sheriff, non-profit agency representatives, and state attorney general’s office staff.

 

Below are take-aways from these presentations to help you avoid becoming a fraud victim:

Romance Scams- In 2022, nearly 70,000 people reported a romance scam and losses hit a shocking $1.3 billion to the Federal Trade Commission. Program speakers advised taking any new relationship- especially a virtual one- slow, asking lots of questions to get to know the other party, and looking for inconsistent answers and excuses for why not to meet in person.

 

Phone Scams- There are many varieties: “grandparent” scams requesting money for a grandchild in need, fake charities, pretexting calls purporting to come from a bank or government agency (e.g., the IRS), and fake lotteries and sweepstakes. One speaker advised the following: “Don’t answer phone calls with an unfamiliar number. Let it go to voice mail.”

 

Top Three Scams- The top scams being reported to authorities include 1. AI powered scams (e.g., the use of just 5 seconds of someone’s voice for use in scams such as grandparent scams), 2. Funeral scams (pretexting a funeral home and contacting bereaved families to request money for services), and 3. Tech scams (via pop up messages on a computer with malware links or phone calls claiming to come from companies such as Apple, Google, and Microsoft).

 

Card Skimming- Skimming devices illegally installed on gas pumps or ATMs are used to collect information from the magnetic strip on credit and debit cards to commit crimes. Tips to protect yourself include making transactions inside, using machines closest to physical buildings, and looking for signs of tampering such as loose parts. At gas pumps, paying with cash, credit cards (zero liability policies), or “tap and go” is recommended. If you must use a debit card to pay, experts advise using the “credit card” option instead of entering a PIN.

 

Evergreen Fraud Advice- The following statements are true anywhere, anytime, for anyone:

¨   Legitimate lotteries do not collect credit card data and charge handling fees for prizes

¨   Do not send money to “cold callers” (phone, e-mail, etc.) who you do not know

¨   Do not purchase gift cards or wire money for payments. Instead, Stop. Think. Go Home

¨   If you suspect possible fraud, say something; the worst that can happen is you are wrong

¨   Real technology companies do not contact people out of the blue to request money

¨   If something sounds fishy, walk away, hang up, or delete. Don’t engage with fraudsters.

¨   Monitor bank and credit card statements regularly to quickly identify suspicious activity

¨   Taxpayers can get a PIN (from the IRS) to reduce the risk of being defrauded on their taxes

¨   Vigilance, caution, and time (don’t be rushed into decisions!) are key protective factors

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

Expert Recommendations to Avoid Scams

It seems like scams are everywhere these days and they affect people of all ages. Below are eight expert recommendations to avoid being a victim of fraud:

Get a Contract and Read It- Always have written contracts and review them carefully before signing them when engaging contractors or other service providers to perform work. Don’t leave any blank spaces and always keep a copy of any document that you are asked to sign.

 

Do Due Diligence- Get multiple in-person or online references for service providers (e.g., contractors, financial advisors, house cleaners, lawn care, plumbers) from family, friends, and/or co-workers and check them. Ask to see a vendor’s state license (where a state license is required) and proof of insurance (e.g., for contractors).

 

Don’t Pay Everything Up Front- Be very wary of any company that demands that most or all of the cost of a job be paid in advance. The party that has all the money has the upper hand and the other party has little recourse. A fully paid vendor could care less if you are satisfied with their  service or not. Instead, look for companies that charge a series of installment payments with the final payment due only after satisfactory completion of a product or service.

 

Beware of Personal Check Requests- Always make checks payable to a business name. Be wary if you are asked to make payments for business services to an individual. This is a “red flag” that the business owner may be untrustworthy and/or unlicensed.

 

Use Common Sense- Use the “smell test.” If an offer, deal, or discount does not “smell” right or sounds too good to be true, it probably is. Always employ common sense and a healthy amount of skepticism and walk away from or delete questionable purchases.

 

Beware of Testimonials- Ignore testimonials found in mailed advertisements, television infomercials, and online. The only testimonials that are worth believing are those that come from people that you know and trust.

 

Read Fine Print- A common phrase used by fraud prevention specialists is “the large print giveth and the small print taketh away.” Don’t rely on verbal sales pitches and “guarantees” made by salespeople. Read the fine print and, if you don’t understand it, find someone who does.

 

Beware of “Urgent” Offers- A common “red flag” of fraud is deals presented with language such as “limited time offer” and “you must act now.” Remember that the easiest way to steal people’s money, with the possible exception of at gunpoint, is to force them into a quick decision.

 

In summary, keep your BS meter running at all times and be alert to indications that something is amiss. Nobody will look after your finances better than you do.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

Fraud Prevention Tips

 

It seems like everyday we hear stories about people who become victims of fraud. They are tricked into sending advance deposits for products or services they never receive or making wire-transfers to fraudulent accounts, or divulging sensitive information that can be used to wipe out bank accounts or commit identity theft.

What to do? Nobody can completely reduce their risk of being defrauded because not all of our personal information is under our control. For example, our employer could be hacked or our utility company or a hospital or hotel that we recently stayed at. All of these places hold individuals’ personal information including credit card and Social Security numbers.

Below are five fraud risk reduction tips:

Look for Red Flags- Never invest in an opportunity that promises “guaranteed” or “risk-free” returns or astronomical yields in a short period of time. Many people have lost substantial sums investing in non-existent or worthless oil wells, land, securities, businesses, and other fraudulent schemes. Always remember that, if something sounds too good to be true, it probably is!

 

Beware of Electronic Contacts- In recent years, as more people started blocking robocalls on cell phones, fraudsters have taken a different approach. Many now contact victims using text messages and e-mails. Never click on a link or a file in an unsolicited message from someone you don’t know. It could unleash malware on a device or prompt you to divulge personal data.

 

Beware of Pretexting- Many fraudsters trick victims into believing they represent a financial institution, utility company, or government agency. This is called pre-texting, i.e., where victims are contacted under false pretenses. Fraudsters often claim there is something wrong with a victim’s account (or tax return) and need personal information to “verify” or “confirm” its accuracy. Again, an unsolicited request for data from a stranger is a major red flag.

 

Guard Your Credit Cards- A strict interpretation is to never hand your credit card to anyone who can take it out of your sight and potentially steal the numbers. Think waiters in restaurants, for example. Either pay in cash, use a credit card reader (some restaurants have these), or pay with a credit card at a cash register or bar. Another tip: beware of loose or scratched credit card readers at stores or gas stations. This could indicate tampering with a credit card skimmer.

 

Set Up Two-Factor Authentication (2FA)- The objective here is to make it difficult for fraudsters to access financial accounts (e.g., bank and brokerage) to steal money. 2FA is an extra layer of security beyond a user name and password and requires users to insert a unique passcode (texted to their phone) or answer a series of challenge questions.

 

In summary, there are many proactive steps that people can take to reduce their risk of becoming a crime victim. To learn more, read this useful article from AARP.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

 

 

How to Keep Personal Information Safe

Widespread data hackings are increasingly common, whether it is a credit bureau (Equifax in 2017), a hotel (Marriott in 2018), an online game producer (Zynga in 2019) a federal government agency (OPM in 2015), or an Internet media company (Yahoo! in 2016). Another common scam is phone calls and e-mails claiming to be from a bank...or Social Security...or the IRS. 

In each of these cases, customers’ personal data including e-mail addresses, log-in credentials, credit card numbers, birth dates, and Social Security numbers can be compromised. There may also be fraudulent requests to wire transfer money, reveal computer login credentials, or purchase gift cards and give fraudsters the numbers above the bar code.

What to do to avoid falling prey to scams? Below are seven suggestions to protect private information and reduce your chances of becoming a fraud victim:

 

Practice Cyber Hygiene- Successful fraudsters successfully reach victims through their “weakest link.” It might be something as simple as a weak password or someone revealing TMI (too much information) online. Consider your potential fraud exposures (e.g., reusing the same password/user name combination). While nobody is 100% immune from fraud, the objective is to make yourself a harder target so fraudsters find victims elsewhere.

 

Mix Up Your Log-In Credentials- Fraudsters know that most people use the same username and password in multiple places. When they obtain personal information from a data breach or the Dark Web, they try to exploit it in multiple places using automated scripts, a process known as “credential stuffing.” It will probably take several hours to create a multitude of unique passwords. Once you are done, be sure to record them in a digital assets inventory.

 

Click Cautiously- Some people are tricked into clicking on links, or even photos, that take them to a website that requests personal data or installs malware on their computer that can be executed later to obtain sensitive data. Often, this happens as a result of a phishing e-mail. A good cyber hygiene practice is to not click on any link if you do not know the sender and/or you receive a cryptic message (e.g., check this out!) and do not know what the link is for. Another hygiene practice is using strong passwords with a variety of types of characters.

 

Set Up Two-Factor Authentication- Every personal website of consequence (e.g., bank and investment accounts, pension, Social Security) should have a two-factor (a.k.a., two step) authentication process where a unique one-time password is sent via e-mail or a text message and is necessary to access an account. Some accounts also have challenge questions that must be answered for account access. Typically, two-factor access is a very simple process to set up through the “settings” and “privacy” functions on a website. Again, it’s all about not being an easy target.

 

Freeze Your Credit- A credit freeze blocks access to credit reports to prevent fraudsters from opening credit in a potential identity theft victim’s name. It, therefore, provides an extra layer of fraud prevention protection. Freezes must be done with each of the “big three” credit bureaus (Equifax, Experian, and TransUnion) individually. They do not affect a person’s credit score and there is no cost to freeze credit or to “thaw” (unfreeze) it for a short time to apply for a bank account, line of credit, or utility service. A PIN or password is typically provided for this purpose.

 

Update Your Computer- Another piece of cyber hygiene is keeping an operating system current by installing updates as they become available. Ditto for anti-virus and anti-malware programs. Some experts also advise using a password manager program with two-factor authentication as well as strict privacy settings for social media. Another common recommendation is text alerts or e-mails from financial institutions when changes are made to an account.

 

Stay Current- Many pundits are predicting a future without passwords. Instead, there will be new authentication protocols such as facial biometric scans and fingerprint swiping. Another promising protocol is behavioral monitoring of users’ typical spending patterns to identify “out of the ordinary” behavior. “Keeping current” also means paying attention to scams that feed off current events such as COVID-19, tax season, wars, and natural disasters.

 

For more information about keeping information safe, review this Consumer Financial Protection Bureau website.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.

 

Consumer Fraud: Statistics, Trends, and Tips

 I recently attended a webinar about fraud sponsored by Consumer Action. The title was Fraud and Scams in the COVID-19 Economy. The webinar presented statistics about the incidence of fraud and types of consumer fraud complaints, as well as “red flags” of fraud and tips for working with fraud victims.

Below are eleven of my key take-aways from the webinar:

 

¨    Fraud Reports- About 5.7 million fraud reports were logged by state and federal (e.g., CFPB, IRS, Federal Trade Commission) government agencies in 2021. The top two fraud categories were identity theft and imposter scams.

 

¨    Fraud Categories- Widely-reported fraud categories include online shopping. prizes/sweepstakes/lotteries, internet services, telephone and mobile services, investment-related, health care, travel/vacation/timeshare plans, foreign money offers and fake check scams, and business impersonator scams (especially Amazon and Apple).

 

¨    Generational Impacts- Younger adults reported losing money to fraud more often than older adults but….when people age 70+ had a loss, the median loss was much higher.

 

¨    Fraudulent Payment Methods- The top payment methods reported by Consumer Sentinel Network are credit cards, payment apps/services, debit cards, gift cards/reloadable cards, wire transfers, and cryptocurrency. Reports and losses related to cryptocurrency investment scams increased sharply from October 2020 through March 2021.

¨    Gift Card Losses- The top gift card brands ranked by reported dollar losses to fraud in the first nine months of 2021were Target, Google Play, Apple, eBay, and Walmart.

 

¨    Victim Contact Methods- Crime victims are contacted in a variety of ways. In descending order, the top victim contact methods were phone calls, texts, e-mail, a website or apps, social media, “other,” mail, and online ads or pop-up messages. Reports about fraud originating on social media soared over the past five years.

 

¨    Fraud Reporting- The go-to resource for fraud victims to report crimes is the Federal Trade Commission (FTC) website www.ReportFraud.ftc.gov. Here, victims can report a scam, a company, or an unwanted call. The website also provides information on “next steps”; i.e., what victims can do to protect themselves. The FTC shares consumer reports with their law enforcement partners to help with investigations.

 

¨    Victim Complaints- Webinar speakers advised victims to “complain to everyone.” This includes the FTC, the victim’s state attorney general, the Consumer Financial Protection Bureau (CFPB), your bank, and (if applicable), a payment processor (PayPal, Venmo) or gift card company. Also, file a police report with local law enforcement.

 

¨    Consumer Rights- Compared to debt cards and gift cards, credit cards provide the strongest scam protections due to “chargeback” rights that can be raised against the credit card company. To invoke this right, consumers must raise an objection within 60 days of receiving a statement for goods or services that were not delivered. They must also state that they are withholding payment and not paying the amount in question.

 

¨    Diversity of Fraud Victims- Fraud victims are very diverse and it is a myth to assume that they are all stupid, gullible, greedy, lonely, or elderly. The one thing that victims have in common, however, is social influence. Fraudsters are very adept at creating situations that induce compliance. In many cases, they will profile potential victims to find an “Achilles’ heel” and tailor their pitch accordingly. Anyone can be taken in by a scam.

 

¨    Fraud and Stress-  Fraud victims are more likely to experience a negative life event (e.g., a change in living arrangements, death of a spouse, divorce, unemployment, a serious injury) because that is when people are most vulnerable. Life stressors use up cognitive capacity and coping strength.

 

For more information about avoiding consumer fraud, review the Consumer Action website about scams.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.