Financial Tips for Baby Boomers

in love African American couple in their eighties and seventies,Did you know that the average American spends more time researching the features of their cable television channel offerings, than they do finding a reliable financial advisor?

It sounds … insane … for lack of a better phrase, but it’s true. (see the Forbes Financial article we will reference at the end of this post) Sometimes this even involves making decisions about how pension or social security money will be received. These could be the only funds a person will be receiving, to live on for the rest of their life. Obviously it’s important that they be managed properly, yet so many are just “winging it” and this can have devastating consequences!

It’s also important to make sound financial decisions based not solely on where you are NOW, but where you will be in 20 or 30 years. Will your home be safe and comfortable for you when you are 75, 85? Do you have a plan in place for how you will manage if your spouse passes away before you, or a care plan for them to get along without YOU?

These can be uncomfortable conversations to have, but to secure your future, they are very necessary.

A trained financial planner can assist you in all areas mentioned above, and more! Check out this article from Forbes Financial, and feel free to reach out immediately if you’d like a consultation with one of Cornerstone’s Financial Advisors. Our services are always at no cost to you!

https://www.forbes.com/sites/feeonlyplanner/2015/06/05/five-easy-pieces-of-financial-advice-for-baby-boomers/#1fd30f854ae8

 

Facts About Retirement

Connected puzzle pieces labeled with the words "retirement" and "savings".

What does retirement mean to you? Is it a time to start up your dream business venture? Or maybe travel and spend time with your family?

Regardless of your plans, most individuals want the chance to take it easy after years of hard work.

In many cultures and areas, the standard retirement age is considered to be 65 years old.

It’s interesting to know that every day for the next 20 years another 8,000 individuals will turn 65. That is about 1 person every 10 seconds!

In the year 2013 14% of the population in the United States was made up of those who are 65 and older, and it’s estimated that by the year 2030, they are expected to make up more than 20% of the population!

Interestingly this group owned 31% of the US’s financial assets in 2001 and they are expected to hold 44% of the country’s financial assets by 2040.

If you are part of this group, or will be soon, you can see that you’re part of a large and influential group of people!

What will you do for your retirement when that time comes? Have you made arrangements for the future, for your healthcare, housing and income? Do you feel comfortable with the plans you have in place?

As a member of this influential part of our society, the choices you make now to plan for your retirement can make a difference in the abilities you will have to utilize these years when the time comes!

If you have an uncertainty about your decisions, contact us today so that we can help you develop a solid strategy for the future!

Healthy Body = Heavy Wallet

Calculator and stethoscope on financial statement concept for finance health check or cost of healthcare

Did you know that out of all the things people save for during retirement, that healthcare can potentially be the most expensive?

One study found that a 65 year old couple with average prescription drug expenses will need to save $207,000 for health care in retirement if they want a 75% chance of being able to pay all their future medical bills!*

Although your health isn’t something you can fully control during your retirement, there are some things you can do to stay healthier, plan ahead and possibly reduce the amount you will spend in the future!

First of all, Stay Informed! Keep yourself up- to-date on healthcare news, since we know medical expertise and advice are constantly changing. Especially if there are issues that have affected you or those related to you, and be sure to ask your doctor for help identifying areas that might be of particular concern.

Next, you want to do your best to maintain a healthy lifestyle. Eating healthy and exercising regularly can be key to staying healthy. Limiting fats and sugars and increasing whole grains, fruits and vegetables is a great way to start, as well as embarking on an exercise program that you feel comfortable continuing into the long term. Of course, always consult with your doctor before starting any new routine, to make sure it’s safe for you!

Relaxation can also be a great way to stay in good health. Maintaining friendships, focusing on hobbies and making time for relaxation each day can help ward off stress, which can be detrimental to your health. Some research even shows that staying socially active in retirement can reduce the risk of depression and might even aid in the prevention of Alzheimer’s disease!

Monitoring your blood pressure, cholesterol, body mass index and blood sugar levels are also important. Doing so can help you stay ahead of the game and make any changes if necessary, in the event that your health does begin to decline.

Finally, preventative care can be much less expensive than treating a disease or disorder. Make sure to always get your annual physical as this can help to screen you for potential health risks!

Overall, staying healthy is the best way to keep your healthcare costs low, but having a good healthcare plan in place for big and unexpected events is very important!

If you’d like a free consultation with a retirement specialist who can help you find the most fitting and affordable healthcare plan, contact us today!

*Employee Benefit Research Institute, 2013

Procrastination- What it can cost you

Concept for procrastination and urgency with torn newspaper headlines excuses reading later, one day, tomorrow, someday, whenever etc

Have you ever waited too long to do something and suffered the consequences? Maybe you put off renewing your car taxes, only to get a ticket for an expired registration…or what about waiting just a little too long to fill that gas tank, only to run out of gas before you can make it to a fill-up station?

Procrastination can cause many missed opportunities! And this can cost us!

Procrastinators can sabotage themselves. The paths they choose can hurt their performance and put obstacles into their paths.

But what does this have to do with financial planning?

Problems with procrastination can be particularly painful, and costly, when it comes to investments and financial decisions.

Here is an illustration:

Let’s look at two individuals we will call Sam and Patty. Let’s say they each have $100,000 to invest. Sam is ready to go RIGHT NOW! He immediately beings depositing $10,000 a year into an account that earns a 6% rate of return. After 10 years he stops making deposits. Patty on the other hand, procrastinates. She meant to meet with her financial advisor but other things kept getting in the way. Years go by… Finally 10 years after Sam started investing, Patty finally starts to invest that $10,000 per year into an account that also earns a 6% rate of return.

Both Sam and Patty have invested $100,000, but at the end of 20 years Sam has more than $280,000, while Patty only has a little more than $150,000. Sam is significantly wealthier because his account has had more time for the investment returns to compound.

Regardless of the amount of money you may have to invest, the point is to take action NOW! Don’t wait! Every day that you wait, you are potentially losing money that could be used for your retirement, or money that could be left as a legacy to your children and grandchildren.

The first step towards getting started with your investment is to contact a financial advisor and set up a financial review.

At Cornerstone we have dozens of agents who will do a free financial review in the comfort of your home! After fully analyzing your situation, they will be able to point you in the best direction to start investing, or even help you modify your current investments to better meet your needs.

Don’t procrastinate! Contact us today!

Income Certainty in an Uncertain Economy

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I have been working with retirees for a number of years now and I am always interested in what concerns people have when it comes to their finances. There are several consistent answers that continually arise but none more common than income. There are people from all walks of life that are concerned about outliving their money. How do we get through this difficult economic condition, with a volatile market and consistent inflation knowing that at the end of the day there will be enough money to sustain a favorable lifestyle? It is a valid question and a real concern and without appropriate planning, there could certainly be some very real consequences. There is good news in this story however. There are programs available in the investment world designed specifically for the purpose of income generation. Not just income until you run out of money, but income that CAN NOT BE OUTLIVED. They are called annuities. Many of you reading this may have experience with annuities and many of you may have heard terrible reviews about annuities as well. Some of the information is true and some should be left by the curb with the trash. What I can tell you, is that annuities present an opportunity to generate a lifetime income stream that can’t be outlived as opposed to the alternative methods of income generation typically used such as a bond portfolio and other market driven investment options. I am a registered investment advisor representative and will maintain that there are effective ways to generate income in the securities world that have been used effectively for years. However, none of these methods has the protection of principal that the equity indexed annuity does. These programs allow for growth when the market does well and protection from loss when the market fails. These programs also offer clients opportunities to use certain riders to guarantee income for life while still having the ability to grow the underlying cash value of the account. This enables the investors to have a consistent income stream whether or not the investment performs well. On top of the income, it also protects and grows the cash value that supports the income with no market downside so that there can be dollars leftover to pass to the investors loved ones if so desired. These riders are so effective that the income stream can persist even past the distribution of all of the original principal and any growth that would have been earned. This is a security that many investors are moving towards with today’s current market conditions. As with any investment vehicle, these products are not right for everyone and certainly not right for all of someone’s assets. However, the equity indexed annuity provides for the opportunity to grow with market potential overcoming the lackluster fixed rates available today and brings protection that almost no other market driven program can offer. It is a nice marriage of features. Being able to add to that, the option for lifetime income with growth opportunity of the base value simultaneously taking place, makes for an attractive offer. For many retirees, the worry of a foregone income stream is now a thing of the past due to the implementation of programs such as these. David Armbruster is President of the Financial Division of Cornerstone Wealth and Tax Advisory Group, Inc. in Charleston South Carolina as well as a Investment Advisor Representative through the Investment Advisor Alliance, LLC. This column is for informational purposes only. Please consult an investment advisor prior to any financial decisions. One of the greatest challenges facing retirees is finding a way to maintain their lifestyle when there is no longer a company paycheck coming in each week. Each family now needs to create an income stream from their own resources that has, hopefully, been saved through the years. They also must determine their income needs for this lifestyle. There are several ways to generate a stream of income from these funds including the drawing from a diversified portfolio, using the dividends and income from a portfolio, earning interest in a fixed income portfolio that coincides with your needs, and the use of annuities. Annuities can be an important way to ensure a specific amount of income each month, but since they are an insurance product I will discuss the first three. Drawing funds from a diversified portfolio means you will be taking money from the investment accounts. You are effectively counting on the growth and steadiness of the portfolio’s returns to fund your retirement. During periods of negative returns retirees will need to decide if they really need the full draw; if the percentage chosen as a withdrawal rate is reasonable, this should not be a problem. Designing an investment portfolio of high yielding equities and income producing instruments often leads to investment in financial and utility stocks, as well as, preferred issues. These will often be value stocks, or stocks that trade at a ‘cheap’ price compared to what the company is worth; however, investment in individual equities leads to other risks of which to be wary. Also, companies in this category may be companies in dire straits and as such may not continue a lofty payout rate. This method is often used when the investor wishes to leave the principal untouched and live solely off the dividends. Building a portfolio of bonds that approximates the cash flow needs of an investor seems like a sure bet. A portfolio of bonds paying interest at roughly monthly periods to create income fulfills the need for steady pay. The drawback, though, is the lack of appreciation potential and that the principal is only attained at maturity with reasonable surety. If there comes a need to sell the instrument, the market price may be substantially lower than the price paid. The thought of a fixed income product often gives an investor a false sense of security regarding the valuations. Upon maturity and the need for reinvestment, this method leaves your income to the coupon rate available in the market. While annuities, equities, bonds, and all investments inherently carry risk; there are ways to mitigate a prospective catastrophe, one of which is to diversify in as many ways as possible. The best portfolio for the investor is one that achieves reasonable goals, has a high likelihood of lasting through the investor’s lifetime, and does not keep them constantly worried. A balance of the three methods above may be the answer. A portfolio diversified across asset classes with a supplement of high yielding sectors in the equities and a well planned fixed income allocation will provide the flexibility, potential for growth, and income needed to help a retiree comfortably live in retirement – assuming the starting value is sufficient. Robert Keeler is CEO and portfolio manager at The Investment Advisor Alliance LLC, a Registered Investment Advisor. IAA can be reached at 800-607-3340. This column is for informational purposes only. Please consult an investment advisor prior to any financial decisions.

The best jobs for Ambitious People

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If you’re confident in your abilities and ready to accept the challenge of a career with a fluctuating salary, a recent Yahoo Education article recommends becoming a Personal Financial Advisor or Insurance Agent! (Full article may be seen here for reference http://education.yahoo.net/articles/jobs_that_pay_commissions.htm?kid=1O12Y )

Many job seekers initially shy away from the idea of a commission based career, due to that fluctuation in income which can seem frightening to some. But who doesn’t like the idea of a job that pays you based on your successes?

Laura M. Labovich, the president of the Career Strategy Group and co-author of “100 Conversations for Career Success” says that often, those who are paid on commission can make more than those on salary if they are really good and motivated.

Labovich also offers a warning about exactly which types of personalities find success in commission based jobs.

“The people who do best in commission jobs tend to have a high sense of urgency, but also a low stress threshold. These are aggressive go-getters who are self-motivating and definitely not clock-watchers,” she says.” She counters this by saying that the wrong personality type will have a rough time with the lack of security created by not receiving a steady paycheck.  

All in all, the independence and high earning potential that can be found with a commission based job is very appealing to many in the work-force today.

The top 5 High-Commission Careers are: Personal Financial Advisor, Advertising Sales Agent, Insurance Agent, Real Estate Sales Agent, and a Sales Engineer.

At Cornerstone, we are regularly looking for the type of self-motivated people mentioned in Yahoo’s article. If Personal Finance or Insurance Sales are something you’d be interested in, be sure to check out the “Careers” Page of our website for more information! http://www.cornerstonewealthsc.com/careers.php

We’d love to meet with you! 

Cornerstone’s Columbia, SC office Rebuild America Beautification Campaign

 ImageCornerstone Wealth and Tax Advisory Group is proud to be partnering with the city of Columbia, SC to help in restoration and beautification efforts of the downtown area.

In early 2013, Edward Marion, branch manager of the Columbia, SC office of Cornerstone Wealth and Tax Advisory Group, was informed that his recent request had been approved. This request was for a $10,000 grant through the Rebuild American Campaign (rebuild-america.com), that would be used toward construction of his office building.

“Our office is located in a wonderful part of downtown Columbia,” Marion says “And we chose that location because we knew that it had great potential.”

When Marion heard about the option to apply for the grant he knew he had to
give it a try. Being accepted for the grant means that funds have been made

available to him to renovate the front of his building and thus add to the overall appearance of the area.

Cornerstone’s CEO Michael Haskett feels that participating in these types of efforts is very important.

“Any time Cornerstone can help out the local communities in which our offices are located, we embrace that opportunity,” He says. “We are all about giving back and sometimes that means more than just donating to charity. It’s about doing your research, finding out what tools are available and then taking advantage of them in a way that will better the community. I’m excited about this opportunity and proud that one of my Branch Managers worked to make this happen. We are eager to see the work that will be done!”

 

Cornerstone, with the City of Columbia, will be having a press release party at their office on May30, 2013 at 1 pm where the Mayor of Columbia and other city officials will be present. Light refreshments will be served. We invite any members of the community to join us in this celebration. The Columbia office address is: 3612 Main Street , Columbia, SC 29203. Contact Edward Marion at (803) 691-6765 for more information.

For more information about Cornerstone Wealth and Tax Advisory Group please visit www.cswta.com or www.facebook.com/cswta or check out our recent feature in Forbes Magazine! (Link available on Facebook page)

 

Making a Retirement Budget

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Believe it or not, a retirement budget leads to more fun in retirement! In addition, making a retirement budget helps you avoid one of the biggest retirement mistakes people make – which is spending too much too soon.”

Quoted above is an except from a recent about.com, Money over 55, article. (View full article here- http://moneyover55.about.com/od/budgetingsaving/a/How-To-Make-A-Retirement-Budget.htm)

Why is making a retirement budget so important? There are many factors that you may end up having no control over when it comes to retirement income, such as when you retire, your Social Security, and the rate of inflation. The one thing you CAN control is your personal spending.

It seems as though many retirees throw the budget out the window when they finally have that retirement check coming in, and unwise or excessive spending can end up being a huge detriment if the retirement funds are not covering what is leaving your bank account.

Others haven’t had to budget in many years and are used to living comfortably without much worry for the balance on their credit card. This can all change when you are suddenly on a fixed income.

The wise course of action is to look at your spending habits now and see where you can start adjusting and adapting to make a smooth transition into retired life.

This type of planning is not difficult and can be started with only a few hours of time, but it’s easy to put off. Why not start working on it today?

Here’s what you’ll need:

  • Your last 6 to 12 months worth of bank account statements
  • Your last 6 to 12 months worth of credit card statements
  • Last two paystubs for you (and your spouse if you are married)
  • 10-12 colored highlighters
  • Last year’s tax return

Use the information on the items above to see where your money has been going and use the highlighters to group expenses into categories.

Above referenced article gives 5 steps to using this information to create your retirement budget.

STEP 1 – Make a list of all your fixed or required monthly obligations.

To make a super effective retirement budget, break this list down into three parts:

  • Essentials: This includes expenses that cover food, clothing, housing, transportation and health care.
  • Non-essential monthly obligations: Although we all may think of cable TV as an essential, it is not. Non-essentials are things like cable, cell phone, gym memberships, subscriptions and other items you receive bills for.
  • Required non-monthly expenses: Items like property taxes, insurance premiums, auto registration and home warranties may come up once a year. Be sure to take these periodic expenses and calculate their cost on a monthly basis and include it in your retirement budget.

STEP 2 – Research your costs for health care before and after retirement.

  • Get estimates from your employer, from AARP sponsored health plans, for from an independent health insurance agent (Cornerstone has over 75 Licensed Representatives across the Nation) so you have accurate idea of these costs by expected retirement age. Account for these costs on your after-retirement budget.

STEP 3 – List all your flexible or optional expenses.

  • This all the fun stuff, like travel, hobbies, sports and entertainment.

STEP 4 – Write down some thoughts on how you want to spend your time in retirement.

  • Ask your spouse to do this also. Think about the things you want to be able to spend money on in retirement. Begin to think about changes you may be willing to make that would reallocate money from items that are less important to items that are more important.

STEP 5 – Calculate Fixed verses Flex

  • Total all your expenses.
  • Total all your fixed expenses separately.
  • Divide your fixed expenses into your total expenses.

How much of your retirement income will go toward fixed expenses? Does this align with your thoughts in Step 4 on how you want to spend your time in retirement?

The About.com article concludes with the following thought: “As a general rule of thumb, if you want more fun in retirement, find ways to lower fixed expenses so you can have more flex to spend on the hobbies and interests you most enjoy!”

Cornerstone Representatives are trained to help you make the most of your retirement in a number of different ways. Are you possibly paying too much for your health or life insurance as mentioned in step 2? Are your investments giving you all the earnings they could? Our agents are available, free of charge to answer these types of questions for you. Please don’t hesitate to contact us if you would like help in planning your retirement budget!

Top 10 Life Insurance Myths

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Life insurance is complex, and there is no one-size-fits-all advice. Don’t let misunderstandings stop you from choosing the right coverage.”

Life Insurance. Those two words bring up a number of questions to the average person. We are pretty sure we need it, but we aren’t always sure exactly how much we need, what type we need, how it affects our taxes, and which companies are the best to choose from.

A recent MSN Money news article explains why having a good handle on this information is so important.

“Life insurance is not a simple product. Even term life policies have many elements that must be considered carefully in order to arrive at the proper type and amount of coverage. But the technical aspects of life insurance are far less difficult for most people to deal with than trying to get a handle on how much coverage they need and why.”

The article breaks down some of the more common life insurance questions and gives simple and concise answers to 10 Life Insurance Myths. (Click here for the full article  http://money.msn.com/health-and-life-insurance/top-10-life-insurance-myths)

We have chosen five of these Myths to discuss on our Blog today.

Myth: If I’m single and don’t have dependents, I don’t need coverage.

Even single people should have at least enough life insurance to cover the costs of personal debts, medical and funeral bills. If you are uninsured, you may leave a legacy of unpaid expenses for your family or executor to deal with. Plus, this can be a good way for low-income singles to leave a legacy to a favorite charity or other cause.

Myth: My life insurance coverage needs to be twice my annual salary.

The amount of life insurance you need depends on your specific situation. There are many factors to consider. In addition to paying medical and funeral bills, you may need to pay off your mortgage and provide for your family for several years. A cash-flow analysis can help determine the amount of insurance you need.

Myth: My term life insurance coverage at work is sufficient.

Maybe, maybe not. For a single person of modest means, employer-paid or -provided term coverage may actually be enough. But if you have a spouse or dependents, or know that you will need coverage upon your death to pay estate taxes, then additional coverage may be necessary.

Myth: Only breadwinners need life insurance coverage.

Nonsense. The cost of replacing the services formerly provided by a deceased homemaker can be higher than you think, and insuring against the loss of a homemaker may make sense, to compensate for cleaning and child-care costs.

Myth: I’m better off investing my money than buying life insurance.

Not True. Until the value of your assets exceeds your debt, you need life coverage of some sort. Once you amass $1 million of liquid assets, you can consider discontinuing (or at least reducing) your million-dollar policy. But you take a big chance when you depend solely on your investments in the early years of your adult life, especially if you have dependents. If you die without coverage, there may be no means to provide for them after your current assets are depleted.

The Bottom line is that there are many, many misconceptions about Life Insurance. Considering how vitally important it is to understand such a critical part of financial planning, the best option is to seek advice from a Licensed Advisor.

As one of our previous articles has explained, (https://cswta.wordpress.com/2012/09/11/working-with-your-best-interests-in-mind/) the right Financial Advisor can guide you in your decision making process, completely free of charge!

Cornerstone has these such representatives at branches across the Nation, who will visit you in your home for a financial analysis at your convenience.

Another article on MSN Money gave a great comparison of the best A-rated insurance companies around. (http://money.msn.com/life-insurance/best-life-insurance-companies.aspx) Cornerstone is proud to work in affiliation with seven of the companies featured in the article, plus more than 50 other top-rated Insurance providers.

Contact us today, set up a free Financial consultation, and make sure that you are on top of your responsibility to stay educated about your options in this ever-changing industry.

Protect Yourself From Credit Fraud!

Throughout history, those looking to do harm to others tend to prey on the weak and naïve, or those who lack a strong support system. Sadly, in our day, this often ends up being our Senior Citizens. Because of this, we live in a world where Senior Citizens are often the target of financial fraud.

As a mature American, or the child of one, what can be done to make sure you or your relative does not become the subject of such abuse?

A recent article on MSN Money * focuses on steps that individuals and their families can take and emphasizes the importance the individual participating in the policing of his or her own finances if possible.

One important step is to consider WHY many Senior Citizens are targeted. “According to the FBI,” the article states, “seniors are targeted because they often have nest eggs, they come from a generation that was more trusting, and they’re often too proud to report the fraud. Another reason the elderly sometime hesitate to report they’ve been ripped off? They’re concerned their relatives might see this as a sign of declining mental capacity and they don’t want to lose their independence. Smart and unscrupulous thieves know all this and try to exploit it.”

When fraud is detected, it can be frightening and confusing for the parties involved. For this reason, the FBI has come out with a comprehensive, yet easy-to-read, list detailing the different types of fraud and how to prevent them. Click here to view the information on the FBI’s Website. http://www.fbi.gov/scams-safety/fraud/seniors.

With all this in mind, it can be daunting to bring someone new into your financial life. At Cornerstone, we understand those fears and do our best to make your experience in dealing with us as reassuring as possible.

Feel free to take a look at this article to see more steps YOU can take to protect yourself from fraud and scams when working with a retirement planner. https://cswta.wordpress.com/2012/07/

Information for Those Concerned With Protecting Elderly Relatives

As brought out in the article, Credit Card Fraud is one of the most common types that seniors face today. Here are a few steps that can be taken to help elderly relatives avoid becoming a victim!

Talk to your relative about email scams. You can’t be around your relative constantly, so take the time to explain why he or she should never give a credit card number by email to buy a product. These scams often promise a great product — anti-aging products, for example — but scammers need your credit card information. This type of scam also happens over the phone. Seniors get a call and are offered a new product that promises, say, youthful energy. Once scammers get your loved one interested, they ask for a credit card number to seal the deal.

Keep an eye on caregivers. Maybe your mom is still at home and has home health care a few days a week. Or maybe she’s in a nursing facility with nurses and various medical assistants always present. Hopefully, your parent is dealing with professionals who are trustworthy. Just keep in mind that there are many reports of caregivers using a credit card belonging to people they’re taking care of. It’s awful that someone could stoop so low. But it happens all the time.

If you can, it’s best to visit your elderly relative frequently and shred any mail with personal information on it. If your mom has credit card accounts, you can view account activity online with her. You can even opt out of paper statements altogether. That way, credit card account numbers won’t be within easy reach of whoever is in the room. Credit card fraud can still occur, of course, but by frequently checking your mom’s accounts online, you’ll notice if something suspicious pops up on her statement.

Even if you can’t visit often, you can still check her credit card accounts online every week from your home. But ask for her permission so she doesn’t feel as if you’re invading her privacy.

Keep an eye on other family members. Unfortunately, family members are often the ones who rob their parents or grandparents. If you have a family member with a problem such as drug addiction or gambling debt, that’s a red flag and warrants additional caution. When people are desperate for money, they can justify taking it from anyone. They’re counting on the fact that no one will notice. You can prove them wrong by keeping on top of your relative’s credit card account activity.

Check the mail. You can learn a lot from the mail. Is your loved one getting letters from “charities” asking for a donation via her credit card? If she’s getting letters from organizations, she may have sent money to them previously. Looking at credit card accounts online is a good way to make sure she isn’t authorizing payments to fraudulent entities.

Pay attention to new friends. The National Committee for the Prevention of Elder Abuse recommends keeping track of any new “best friends.” The relationship may be innocent, but if it’s sudden and there’s an age difference, this may be a red flag that someone is planning to commit fraud.

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* http://money.msn.com/credit-cards/protect-grandma-from-credit-fraud