Good to have you. Retirement scams, 401(k)s and Social Security. All things that hit your wallet, and all things that have something new worth acting on right now.
On The Money Today:
What most retirees are sharing with scammers without realizing it
What high earners know about 401(k)s that most savers are still figuring out
The Social Security term Congress just voted to fix — and what it may have cost you already
Let's get into it.
BEHIND THE HEADLINE
Elder financial fraud losses have more than quadrupled since 2021
Financial scam losses among older Americans hit $7.7 billion in 2025, up 37% from the prior year and more than four times what they were in 2021. The jump isn’t just scale. It reflects how much more sophisticated the attacks have become, and how consistently they start with information the victim offered freely. Read our first story for the five categories most scammers are counting on.
Have you or someone close to you ever been targeted by a financial scam? Hit reply and tell us what happened — even if you caught it in time. Your story may be featured in a future newsletter.
NEWS
5 things a US retiree should never (ever) disclose to anyone. How many have you revealed already?
Nearly 200,000 older Americans lost $7.7 billion to financial scams last year, up 37% in a single year. What most of them had in common is that the attack started with something they shared without a second thought. Before assuming you know what’s safe to talk about, it’s worth seeing what isn’t.
Why it matters: The most common perpetrators of elder financial abuse aren’t strangers. Family members account for nearly 58% of cases. Knowing which five categories to guard isn’t paranoia. It’s the one habit that can actually change the math.
IN PARTNERSHIP WITH Goldco
Gold and silver as a retirement hedge: why the timing matters now
You’ve spent years building retirement savings. Watching them lose ground to inflation isn’t part of the plan. Physical gold and silver have long served as a hedge against both, and for many, a precious metals IRA is one way to protect retirement savings from what’s coming.
Goldco’s free guide covers everything you need to know, whether you’re buying for the first time or already hold precious metals. It will share the benefits of a precious metals IRA and how to get started.
NEWS
Savvy rich Americans are now ditching 401(k)s used by over 70M savers. Here’s where they grow money instead
The advice to max out your 401(k) every year is practically gospel. A growing number of high earners are following a very different playbook, and the reasoning behind it goes beyond picking different investments. Before your next contribution decision, this one is worth understanding.
Why it matters: With tax rates near historic lows today, some investors are rethinking when they want their tax bill. If rates rise in the years ahead, the math behind a traditional 401(k) looks different, and the window to adjust could be narrowing.
MUST READ
GOP Senator exposes little-known Social Security label that misleads US retirees into smaller monthly checks — have you fallen for it, too?
There’s a phrase the Social Security Administration has used for decades that researchers say has nudged millions of retirees toward claiming too early and leaving real money on the table. A bipartisan bill has already cleared Congress to fix it. If you claimed at 62 or are still weighing when to start, this one is worth reading before you decide.
Why it matters: Just over a quarter of retirees still claim at the earliest age of 62, a move that can permanently reduce their monthly check by up to 30%. The difference between claiming at 62 versus 70 adds up to more than $182,000 in lifetime household spending.
MONEY IQ
If your full retirement age is 67 and you claimed Social Security the moment you could — at 62 — how much smaller would your monthly check be permanently?
ALSO MAKING THE ROUNDS TODAY
Trump told audiences to buy Dell while his own account was selling up to $1 million of it at the same time
Beef hit $6.92 a pound and Trump’s imported beef plan was supposed to fix that — ranchers and food safety experts say your grocery bill isn’t getting lower
A pop-up claiming to be from Microsoft cost one woman $22,500 — what to do if you ever see one on your screen
The same law that cut Social Security and SNAP handed Amazon, Google, Meta and Microsoft $96 billion in AI tax breaks — and Warren is demanding to know why
MONEY IQ ANSWER: HOW DID YOU DO?
The correct answer is C) 30% smaller. Claiming at 62 with a full retirement age of 67 locks in a permanent 30% reduction to your monthly benefit. Wait until 70 and you’d collect 24% more than the standard amount — a gap that adds up to more than $182,000 in lifetime household spending.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every one.
See you soon with another quick roundup of the financial news that matters.
