I was fortunate this evening in that I attended a mini-seminar on what was going to be a few good tips on how to "protect your nest egg." It was so much more!
An extremely talented young woman presented a picture of how easily some folks are manipulated into "investing" most or even all of their savings. And the schemes are as numerous as, I was going to say stars, but that's ridiculous. Perhaps there are as many or more than the total number of McDonald's in the state of Michigan. Unbelievable! She graciously agreed to share her power point by email so I will be able to give you a logical progression of her message.
Just a couple of things that are so critical you need to hear them NOW!
Use the telephone number above and get this, a real live person will answer the phone. The question you want to ask first because it's the first thing you need to do before you turn over the first dollar to anyone for investment is "Is this person licensed in the State of Michigan?"
You can also access www.FNRA.org to get an accurate check on the background, education, etc. of any registered broker.
Information tidbit: At present, when asked for statistical numbers as to how much fraud is known, the department started counting and stopped at $250 million. And apparently due to low interest rates during a downturn such as we have now, people are looking for more return on investment and are ripe for the picking. Greed is a part of the problem.
I will try not to waste your time, but want to share the rest of the information as soon as I get it.