So you’re retired. Whether it’s been a long-awaited sigh of relief or a much-dreaded stage of your life, it’s here now. You finally have more time. But maybe there’s a way to make some extra cash in retirement?
The poverty rate for Americans 65 and older has dropped significantly over the past 50 years, from nearly 30% in 1966 to 10% in 2024. That doesn’t mean retirees can now afford holidays in Palm Beach or a private painting tutor.
In fact, more than 17 million — roughly one in three — adults aged 65 and older are economically insecure, with a median yearly income below $30,000.
A third of them are also considering going back to work because their savings aren’t enough to cover their expenses. If you’re also on this journey or know someone who is, then read on.
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A woman receiving a scam job text on her cell phone (Kurt “CyberGuy” Knutsson)
Task scams: A new trend that could cost you dearly
According to recent data from the Federal Trade Commission (FTC), the number of task scam reports has significantly increased in the past four years, rapidly increasing in the first six months of 2024 and resulting in more than $220 million in losses. What exactly are task scams? They’re a type of job scam where you think you’re getting paid to do easy tasks online, like rating products, but end up losing money instead. Task scams made up a staggering 40% of all job scams reported to the FTC in 2024.
How to spot a task scam?
Task scams are becoming increasingly sophisticated, but there are clear warning signs you can watch out for. These scams often begin with an unexpected message about an easy online job opportunity. Here are some key red flags to help you identify a task scam:
- Unsolicited job offers via text or WhatsApp
- Vague job descriptions like “app optimization” or “product boosting”
- Requests to complete tasks on unfamiliar platforms
- Initial small payouts to build trust
- Sudden requests for you to invest your own money
- Promises of big returns for small investments
- Pressure to use cryptocurrency for payments.
Not falling for a job scam is half the win. Preventing scammers from contacting you in the first place is another.
A scam job text on WhatsApp (Kurt “CyberGuy” Knutsson)
HOW TO REMOVE YOUR PRIVATE DATA FROM THE INTERNET
Your personal information is easy to find online
You may wonder, “How did they get my number in the first place? And if they have it, who else has?” You’re right. Anyone can easily find your phone number, name, address or date of birth online. All of this data, and much more, is publicly listed on people search sites. People search sites, or public data brokers, display your data to anyone who’s interested, including marketing companies and scammers building their next job scam campaign.
Cybercriminals can also find this information in the databases of private data brokers. Private data brokers harvest personal information too but don’t give access to their databases.
However, many will happily sell a list of potential targets to the highest bidder, and your name is likely on this list already. Data brokers aside, a lot of us voluntarily give up personal information on all sorts of forms, forums, blogs and social media accounts. Since the U.S. doesn’t have a comprehensive federal law protecting personal data, anything that you publish online may eventually be shared and sold without your consent.
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Person typing on a laptop (Kurt “CyberGuy” Knutsson)
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Protecting yourself in retirement when taking on side hustle opportunities
So, you’re thinking about dipping your toes into the side hustle pool? That’s great, but before you dive in, let’s make sure you’re equipped with the right safety tips to keep those scammers at bay.
1. Invest in personal data removal services: Consider using data removal services that help remove your personal information from people search sites and data brokers. These services can reduce your online exposure and minimize the risk of scammers finding your information. While no service promises to remove all your data from the internet, having a removal service is great if you want to constantly monitor and automate the process of removing your information from hundreds of sites continuously over a longer period of time. Check out my top picks for data removal services here.
2. Be cautious of unsolicited job offers: Ignore unexpected messages about easy online job opportunities. Be wary of vague job descriptions like “app optimization” or “product boosting.”
3. Verify the legitimacy of online tasks: Research unfamiliar platforms before completing tasks. Be suspicious of requests to use your own money or cryptocurrency. A legitimate potential employer will never ask you to pay for work opportunities.
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4. Protect your personal information: Limit sharing personal data on forms, forums and social media.
5. Don’t click on links, and invest in strong antivirus software: Antivirus software helps protect your devices by monitoring your online activity, blocking access to malicious websites and preventing harmful downloads. The best way to safeguard yourself from malicious links that install malware, potentially accessing your private information, is to have strong antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe. Get my picks for the best 2025 antivirus protection winners for your Windows, Mac, Android and iOS devices.
By following these steps, you can better protect yourself financially and emotionally during retirement, reducing the risk of falling victim to scams and ensuring a more secure and enjoyable retirement experience.
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Kurt’s key takeaways
Legitimate employers don’t use WhatsApp or texting for employee sourcing. They also won’t ask you to pay for work opportunities. If someone asks you to invest money to earn more, it’s likely a scam. Returning to work in retirement can be a fantastic way to boost your income and stay socially connected. Use your years of experience to your advantage, stay safe and best of luck in your job hunt.
What side hustles have you explored or are considering in retirement, and what factors influenced your decision? Let us know by writing us at Cyberguy.com/Contact
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