Pressed into Variable Annuities

Edward and Maria became prey to an elaborate investment scam involving the sale of variable annuities. Hear how false claims of senior discounts and a double rate of return pressured them into investing 80 percent of their money. Now they can't get their money out.

More Videos From "The Lure of Money"

Many eyes are on your retirement nest egg. Boomers approaching retirement look out for how their retirement investments are growing. Those retired already have a watchful eye on how their retirement savings are lasting. The other "eyes" on your money are the opportunists. Through frauds and scams, they try to lure you into the wrong investments.

Sounding sincere and knowledgeable, making promises of high returns, and building trust are some of the often sophisticated techniques that scams artists use to take your retirement money. Listen to people who thought they were making sound investment decisions, but put their trust in the wrong person and promise. These investors ended up with disastrous results.

View other segments from AARP's video, "The Lure of Money."

• Ponzi Scheme Built on Promissory Notes
• Affinity Fraud
• Viaticals Served for Lunch
• Before You Invest