Retirement Examined

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Cybercrimes Targeting Retirees - A Rising Threat

by Eric Seyboldt 

In recent times, the surge in cybercrimes targeting elderly individuals has been stark, with con artists employing ever more advanced tactics to exploit this susceptible group. Among the numerous cyber threats, phishing scams have proven particularly ruinous, causing notable financial damage and emotional turmoil. The film "The Beekeeper" sheds light on this pressing issue, providing insight into such schemes through a compelling storyline.

The Beekeeper: A Cinematic Dive into Cybercrime

"The Beekeeper," directed by David Ayer and featuring Jason Statham, explores the realm of cybercrime, concentrating on a damaging phishing scam that devastates its victims. The narrative centers on Mr. Clay, a former agent of a covert group called "The Beekeepers," who embarks on a mission for vengeance.

The Anatomy of the Phishing Scam

Phishing Emails: These scams initiate with carefully constructed phishing emails that appear to be from credible sources, like banks or reputable retailers. The messages typically demand urgent action, such as verifying account details or resetting passwords immediately.

Bogus Websites: Clicking the provided links in these emails directs victims to fake websites that closely resemble the legitimate ones. These sites are designed to capture sensitive information, including usernames, passwords, social security numbers, and credit card details.

Malware Installation: Some phishing emails include attachments or links that, once opened, install malware on the victim's device. This malware can log keystrokes, steal data, or even control the victim’s computer, further endangering their security.

Account Takeover: With the stolen information, hackers can access the victim's bank and email accounts, among other online platforms. They can then transfer money, make fraudulent purchases, or launch additional phishing attacks using the victim’s contacts.

Money Laundering: The ill-gotten gains are laundered through a series of transactions, often converted into cryptocurrencies to obscure their origins, making it difficult for authorities to trace and recover the stolen funds.

Implications for Financial Security

"The Beekeeper" emphasizes the need for vigilance and robust cybersecurity, especially for seniors who are frequently targeted by these scams. Financial institutions and individuals must remain aware of these threats and adopt solid security practices to protect themselves. This includes educating seniors on identifying phishing attempts, advocating for the use of strong, unique passwords, and implementing multi-factor authentication on all financial accounts.

In the movie, Clay’s relentless quest for justice not only brings the cybercriminals to justice but also highlights the severe real-world consequences of these scams. As cyber threats continue to advance, our strategies to combat them must also evolve. Ensuring safe and secure navigation of the digital landscape, particularly for the most vulnerable, remains paramount.

Reach out to us for a complimentary, 10-minute consultation call. Let's explore together how we can help you protect your assets, ensuring your golden years are as fulfilling and worry-free as you’ve always imagined. Email Eric at [email protected] or give us a call today to schedule your consultation. Let's make your retirement dreams a reality!

Client Q & A of the Week - Is “Flipping Homes” a good part-time job for retirees?

Client: Eric, I have a fair amount of investable assets and I’m considering “flipping homes” or turning some of them into rentals. Would that be a good way to diversify my investments?

Eric: Incorporating real estate, particularly through activities like "flipping homes" and building a portfolio of rental properties, can be an effective strategy for retirees looking to diversify their investment portfolios.

Benefits:

• Income Generation: Rental properties can generate a steady passive income, which can be particularly beneficial for retirees by providing a reliable supplement to traditional income sources like pensions and social security.

• Appreciation Potential: Over time, real estate typically increases in value. This can result in significant capital gains, thereby enhancing the overall worth of a retiree’s portfolio.

• Inflation Hedge: Real estate investments often act as a safeguard against inflation. As living costs rise, so do rental incomes and property values, helping to maintain purchasing power.

• Tax Benefits: Various tax advantages come with real estate investments, including deductions for mortgage interest, property taxes, and depreciation, all of which can lower taxable income.

Risks:

• Market Volatility: Real estate markets can be unpredictable. Economic downturns can lead to property devaluations and extended periods of vacancy, impacting rental income and overall returns.

• Liquidity Issues: Real estate is not as liquid as stocks or bonds. Selling a property can take time, posing a challenge if funds are needed quickly for unexpected expenses.

• Management Burden: Owning rental properties requires active management. Dealing with tenants, maintenance issues, and potential legal challenges can be time-consuming and stressful.

• Capital Requirements: Real estate investments often require significant initial capital for down payments, closing costs, and renovations. This can be a barrier for some retirees.

Strategic Integration:

For retirees, adopting a balanced approach is essential. Diversifying a retirement portfolio with a combination of traditional investments and real estate can help mitigate risks. Flipping homes can offer short-term profits but demands market knowledge and active involvement. On the other hand, rental properties can provide long-term income but require ongoing management.

Engaging with financial advisors who specialize in real estate can assist retirees in navigating these complexities. By carefully assessing their financial situation, risk tolerance, and investment goals, retirees can effectively integrate real estate into their retirement portfolios, thereby boosting financial security and growth prospects.

In conclusion, while real estate can be a powerful addition to a retiree’s investment strategy, it requires careful planning and management to maximize benefits and minimize risks.

Reach out to us for a complimentary, 10-minute consultation call. Let's explore together how we can assist you in optimizing your retirement income and protecting your wealth through real estate to ensure that you are living your best life in retirement. Email Eric at [email protected] or give us a call (614-943-2265) today to schedule your consultation.

Fixed annuities can be an essential component of a well-rounded retirement strategy, offering security, predictability, and efficiency in financial planning.

Here are current fixed annuity rates and their durations from Top A-rated carriers (subject to change at any time, not FDIC insured):

Rates Holding Steady! Don’t Wait To Lock Them In!

3-year: 5.50% (under $100k Deposited)

3-year: 5.85% (over $100k Deposited)

5-year: 5.95% (under $100k Deposited)

5-year: 6.30% (over $100k Deposited)

Please feel free to email Eric at [email protected] if you’d like to ask any questions or request information on these fixed annuities or other retirement topics that are on your mind.

REAL ASSETS, Invest Like the Ultra-Wealthy 

Exploring Real Assets as a Defensive Strategy

In an uncertain economic environment, more and more savvy investors are turning to tangible assets to protect their retirement funds. Items like physical gold or even less conventional picks, such as barrels of Bourbon, are gaining popularity. These Real Assets not only serve as a safeguard during periods of monetary easing and inflation but also provide solid diversification options even in stable times.

Historically, Real Assets have outperformed other investment options during economic downturns, offering a resilient hedge against potential crises. For those looking to secure a more stable financial future, incorporating Real Assets into your investment portfolio might be a prudent and profitable strategy.

Given the current economic volatility, investing in Real Assets could be a clever way to strengthen your financial future. Interested in how these tangible investments can boost your portfolio? Let’s connect to lay the foundation for a secure and prosperous retirement.

Allocating funds into the asset class known as “Real Assets” may be a strategy that you should consider.

Ask us how to Rollover a portion of Your IRA or 401k To A BOURBON IRA (www.bourbon.fund/how-it-works/) or a GOLD IRA (see link below) and:

• Safeguard your assets from the collapsing dollar

• Incorporate the ‘REAL ASSET’ class into your portfolio like the ultra-wealthy

• Hedge against the current high-inflation conditions

• Protect your retirement assets against economic crises

Just get in touch. We make it easier than ever.

Feedback or Questions?

You’re invited to get in touch with us if you’d like to find out how the Novus Financial Group can help you on your journey to a happy, fulfilling life in Retirement. 

We have a lot of great information, as well as podcasts from our radio show ‘The Financial Insider’, and tools on our website - www.novusfg.com.

[email protected] www.novusfg.com [email protected]

Office: 614-943-2265

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Investment advisory services are offered by duly registered individuals on behalf of CreativeOne Wealth, LLC a Registered Investment Adviser. CreativeOne Wealth, LLC and Novus Financial Group are unaffiliated entities.

The content we provide here isn’t financial advice and cannot be taken as such. Please speak to your financial advisor before making any investment decision. Also, note that every investment comes with its risks and drawbacks. Lastly, we would like to remind you that past results cannot guarantee future returns.

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