Why Black Friday Bargains Could Cost You Your Retirement Savings

Did you know that Americans lost over $12.5 billion to identity theft in 2024? That’s a +25% increase from 2023.

Black Friday is marketed as the ultimate day for deals, but the truth is more complicated. While seniors and bargain hunters are busy chasing discounts, cybercriminals are chasing something else—your personal and financial information. According to recent reports, online shopping scams spike dramatically during Black Friday and Cyber Monday, with phishing emails, fake websites, and malicious ads designed to trick unsuspecting shoppers. For retirees living on fixed incomes, the consequences of identity theft can be devastating, potentially draining savings meant to last a lifetime. That’s why protecting yourself online is just as important as finding the best bargain.

Why Seniors Are Prime Targets

Cybercriminals know that seniors often shop online for convenience, especially during the holiday rush. Unfortunately, scammers exploit this by creating fake websites that look legitimate, tricking shoppers into entering credit card or Social Security numbers. Seniors may also be more trusting of “too good to be true” deals, making them vulnerable to phishing emails disguised as retailer promotions.

Once personal data is stolen, it can be sold on the dark web, leading to fraudulent loans, drained bank accounts, or compromised retirement funds. Identity theft protection services like Aura and Icogni can help seniors monitor their information and stop fraud before it spirals out of control.

The Psychology Behind Holiday Scams

Retailers use urgency—“limited time only” or “while supplies last”—to push shoppers into quick decisions. Scammers mimic this tactic, creating fake countdown timers or exclusive offers to lure victims into clicking. Seniors and other shoppers may feel pressured to act fast, skipping the usual safety checks they’d normally follow.

This emotional manipulation is exactly what cybercriminals count on during Black Friday. By slowing down and using identity theft protection tools, you can shop smarter and avoid costly mistakes.

Spotting Red Flags Before You Click

Not every deal is what it seems, and learning to spot warning signs is critical. Here are some key things to look for.

Look for misspelled URLs, poor-quality logos, or websites that lack secure “https” connections.Be cautious of emails urging you to “verify your account” or “claim your prize”—these are classic phishing attempts.If a deal seems suspiciously cheap compared to other retailers, it’s likely a scam designed to harvest your data.

It’s a good idea to consider identity theft protection services, especially during the holiday season. Many of these services will provide you with alerts when any suspicious activity occurs. These can give you peace of mind during the busy holiday season and beyond.

Protecting Retirement Savings with Smart Habits

Additionally, you can protect your retirement savings just by adopting smart habits. Your retirement savings represent decades of hard work, and protecting them requires vigilance. So you should always….

Use strong, unique passwords and enable two-factor authentication when shopping onlineAvoid public Wi-Fi for purchases, since hackers can intercept your data on unsecured networksConsider using virtual credit cards or payment services that mask your real account detailsThink about pairing these habits with identity theft protection services to ensure your financial future stays secure

Black Friday Deals on Identity Theft Protection

There are a number of companies offering identity theft protection today. And, if you’re looking for a good deal, there are some you can score for Black Friday, while also keeping your retirement safe.

Aura is offering up to 75% off its identity theft protection services, typically $9 per month (if billed annually). The service is backed by Hollywood stars, like Robert Downey Jr., and has even come recommended by highly-regarded publications such as Tech Radar. Aura also offers 650x faster fraud detection than competitors and $1 million in protection for its customers. The 75% off deal won’t last forever, though. So, sign up while you can.

Incogni is another ID theft company that is offering consumers protection at a discounted price for Black Friday. You can get 55% off their services. A standard plan is typically $7.99 per month, billed annually. It’s worth noting that the recommended plan (Unlimited) is $14.99/month, billed annually. So, you could save a fair amount of money by signing up now. Incogni also has an excellent rating on Trustpilot, with more than 2,200 reviews. Not to mention, you’ll have the peace of mind that your identity is fully guarded going into the holiday shopping season.

The Real Bargain Is Peace of Mind

Black Friday deals may save you a few dollars today, but protecting your identity saves you thousands tomorrow. Seniors and holiday shoppers must remember that the best investment isn’t a discounted gadget—it’s safeguarding your financial future. Identity theft protection ensures that your retirement savings remain untouched, even as cybercriminals grow more sophisticated. By combining smart shopping habits with services like Aura and Icogni, you can enjoy the holidays without fear. After all, true bargains are the ones that protect your peace of mind.

Have you ever spotted a suspicious deal while shopping online? Share your experiences and tips in the comments—we’d love to hear how you stay safe!

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Amanda Blankenship is the Chief Editor for District Media.  With a BA in journalism from Wingate University, she frequently writes for a handful of websites and loves to share her own personal finance story with others. When she isn’t typing away at her desk, she enjoys spending time with her daughter, son, husband, and dog. During her free time, you’re likely to find her with her nose in a book, hiking, or playing RPG video games.