Two heads are better than one. Well, sometimes, except maybe when ya’ll decided to get that Dodge Caravan minivan lemon in 1998 or buy a full dozen doughnuts when it was just two of you in the house. Now you need to make decisions yourself. In our series on how to manage finances after the death of a spouse, we’re exploring tips from FINRA, a reliable financial source. Today, Tip 10: Avoiding Fraud.
They don’t call them scam “artists” for nothing. There is usually a real creative flair that goes along with taking your money from you in this manner. The people who successfully trick you out of your money will have charm and apparent kindness if not good looks and sex appeal to go with it. They won’t be violently grabbing your purse like in a mugging; you’ll be handing it to them with a smile!
Walking the Tightrope of Trust
It’s so hard to know who to trust – emotionally, in your career, financially, at the grocery store. I mean, are those raspberries really organic? Or do they take random batches of the same raspberries and funnel some into regular packages and others into containers labeled organic? Things that seem so real and true aren’t always, and its hard to know who to trust.
When it comes to money matters, the stakes are higher. What if an investment advisor is dishonest and steals your money, or if they are simply disinterested and doesn’t actively pay attention to your money? The outcome = you with less or no money, and at age 50+, with less time left to make more.
Fraud Avoidance Overload
One of the problems I find when I research almost anything in 2020 is that there is too much information, and I get overwhelmed. And it’s often very good, useful, safe information – just a flood of it that takes too much time to read, process, and get through. A tip to solve that problem is if you can figure out one or two trusted sources that present the information you need in a format that pleases you.
For example, you can see in this series of articles that FINRA a