Desert Health News September-October 2024

www.beaconpointe.com www.DesertHealthNews.com September/October 2024 www.galieeCenter.org WHAT’S FOR DINNER? Will there be Food insecurity can cause poor school attendance and performance, lowered workplace productivity, and physical and mental health problems. At our weekly drive-thru distribution, the Galilee Center hands out over 300 food boxes to working families who struggle to make ends meet. Your $40 donation will help feed a family of 4 for 4 days. Food Insecurity in the Coachella Valley is Real. Donate today at Galil Center.org Donations can also bemailed to: P.O. Box 308 - Mecca, CA 92254 Your donation is 100% deductible. ID # 27-3133601 YOUR FINANCIAL HEALTH By Michele T. Sarna, CFP ® , AIF ® Where will your future take you? Michele T. Sarna, CFP ® , AIF ® Managing Director, Partner Phone 760.932.0930 msarna@beaconpointe.com Provided as information only and should not be considered investment, tax, or legal advice or a recommendation to buy or sell any type of investments. Asset Allocation, portfolio diversification, and risk strategies cannot assure or guarantee better performance and cannot eliminate the risk of investment losses. Form ADV contains important information about Beacon Pointe Advisors, LLC, and may be viewed at: www.adviserinfo.sec.gov. Build strength and security through understanding your financial picture–where you are, where you want to go, and how to get there. 73-833 El Paseo Drive, Suite 102 Palm Desert, CA 92260 beaconpointe.com Let us help you through your financial journey with comprehensive financial planning. Financial Health The Valley ' s Leading Resource for Health and Wellness 16 Recently, the New York Times published an article by Tara Siegel Bernard entitled, “How One Man Lost $740,000 to Scammers Targeting His Retirement Savings.” The victim, a retired lawyer, was convinced by scammers that he was part of a government investigation. The scheme involved several individuals posing as investigators, IRS agents and authorities. They convinced him to transfer his 401k and other financial accounts to “a secure place, largely by using bitcoin, ATMs and wire transfers.” He also gave them full access to his laptop instructing him not to tell anyone including his family. This reporting read like a plot for a blockbustermovie, but it wasn’t. It was a true story of someone’s life savings being swindled in a matter of months. As if this wasn’t bad enough, the majority of the money swindled was retirement savings which prompted taxable events upon the assets being liquidated. Although we all are targets of scammers, a primary focus is retirees. Here are tips to safeguard at any age: 1. Keep informed about the latest scams targeting retirees, such as Medicare fraud, investment scams and phishing schemes. Awareness is the first line of defense. 2. Always verify the identity of any person or organization requesting personal or financial information. Contact the company directly using a known, official number, rather than trusting contact information provided by the caller. 3. Avoid urgent requests or high-pressure methods. Scammers often use high- pressure tactics to rush decisions. Take your time, and don’t be afraid to say no or hang up if something feels off. 4. Don’t share personal information over the phone or via email. Unless you’ve solicited the call, keep sensitive information private. 5. Secure your devices. Ensure all computers, smartphones and tablets are protected with automatically updated antivirus software and firewalls. 6. Engage identity theft protection services. These services monitor for suspicious activity and offer assistance for a fee. 7. Use strong passwords. Password phrases are harder to hack. Try not to use the same password on multiple sites. 8. Review credit card transactions regularly. Most credit card companies and banks will refund unsolicited transactions up to a certain amount. 9. Review your credit reports from all three reporting agencies: Equifax, Transunion, and Experian. You are entitled to one free report annually. You may want to freeze your credit as well. This is a free service and you may unfreeze it at any time. 10. Get help. Inform close family members. Don’t be afraid or embarrassed if you think you are a victim of fraud. Scammer’s today are extremely sophisticated. Michele Sarna is a certified financial planner ™ with Beacon Pointe Advisors and can be reached at (760) 932.0930 or msarna@beaconpointe.com . 7rovided as information only and should not be considered investment, tax, or legal advice or a recommendation to buy or sell any type of investments. Asset Allocation, portfolio diversification, and risR strategies cannot assure or guarantee better performance and cannot eliminate the risR of investment losses. -orm A+= contains important information about Beacon 7ointe Advisors, LLC, and may be viewed at: adviserinfo.sec.gov. Retirees Beware