A Reminder on How to Stay Safe From Scams in 2026

It is almost the new year, and this is traditionally a season of joy. But unfortunately, bad things can still happen during good times, and a recent story out of Lancaster County reminded us to encourage all of our wonderful clients to keep safety measures and best practices in mind year-round.

The Pennsylvania State Police recently reported that a retired couple in Lancaster County was bilked out of more than $1 million in gold in early December. The scammer fooled them with a believable story. Here’s what happened and how you can learn from it to help protect your own hard-earned assets.

Fraudulently Namechecking the Social Security Administration

A person claiming to work for the Social Security Administration (SSA) reached out to the 78-year-old man and 78-year-old woman, claiming that someone had stolen one of their Social Security numbers. They would need to get a new one, the person told them.

The couple was then told they must liquidate their retirement assets and buy gold, which the scammer claimed they needed to purchase their new Social Security number. So far, police are investigating the case and haven’t said if any arrests have been made.

It’s a terrible thing to happen, and even more distressing to come during the holidays, when love for others is usually on great display. This offers an opportunity to reinforce specific safety measures you can take to protect yourself and your retirement assets.

Learning to Identify a Scam

Probably the best thing you can do is to practice awareness of common scam techniques. The Social Security Administration does reach out to people by telephone — but it also usually sends a letter documenting the issue it is getting in touch to discuss. The SSA says it might call about:

·       An application for Social Security benefits

·       A need to update your personal information if you already receive Social Security benefits

·       A phone call you made previously to the SSA

However, there are other things the SSA will not do. No one from the agency will ever call to ask you for your banking information or a debit card number. You do not ever need to pay SSA to recover information or get a new Social Security number. SSA will not request a money wire or gift cards. It also will not ask for immediate payment or repayment on anything.

Additional red flags include a bullying tone of voice. SSA employees are not supposed to act belligerently or angrily toward the people they call. People who have been scammed often report this tone, which can cause uncertainty — because who likes being yelled at?

Another great way to educate yourself about current Social Security Administration scams is to watch this video. It details many common schemes and also suggests ways to stay informed in the future to protect yourself.

We want our valued clients to enjoy their retirement without fear or worry. We hope you have a very merry holiday season and happy new year. Remember to reach out to Jay if you have any questions about Social Security benefits!