Try to reduce banking and investment fees

“Just because you’ve been paying high fees for years, doesn’t mean it’s right,” warns Zaino. It might be time to do a little evaluation and maybe find better options. With so many banking and brokerage services to choose from, there’s no way you cannot find a banking package with lower or no fees at all. Talk to your bank, analyze your banking habits, and shop around for account packages and services that will save you much more money in the long run.

Think before investing

Because seniors are more likely to have money stashed away for retirement, they are unfortunately the prime targets of financial scammers. If you’re asked to invest in something guaranteed to make you rich, don’t jump into making that investment. If something is good only if you give money, it’s probably a scam. “If you have to decide today, the answer should be no,” says Zaino.

Nowadays, the most common frauds happen online, so, make sure you know all about these 9 Biggest Online Scams You Might Fall Victim To.