Baby boomers

Recently divorced

Estate inheritance beneficiaries

Hedge fund investors

Senior citizens are the favorite targets of scam artists and reckless stockbrokers. Why? Depression-era bank robber Willie Sutton said it best. A judge asked Sutton, “Mr. Sutton, why do you rob banks?” Sutton replied, “Because, your honor, that’s where the money is.”

Seniors have worked for decades to accumulate the nest eggs they expect to last them through retirement, to pay for increasingly expensive healthcare needs, and/or to leave a legacy to their children or grandchildren. Unless they take every precaution to protect themselves, however, seniors who thought they had more than enough money to fund a comfortable retirement will find themselves, instead, scraping by on social security and competing for work in a marketplace that no longer values them.