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Investing
I have learned of two financial schemes in my area in the last two weeks. Neither is even public yet but know millions have been lost.
There are some things you should find with an investment:
Probably not a guaranteed rate of return unless a bond.
All paperwork should not come from the person who took your money. You may be summaries from them but you should received information from each investment being mailed from their city.
There should be phone number you can call those investments.
There should be some annual reports that are filed with regulators.
The adviser should be licensed. You should be able to find that by a search of where ever they report to be licensed by.
Any part of what you were told or know you know is not legal such as different rate of returns depending on whether you were claiming the income or not?
No doubt others have recommendation but one not to trust is, I am investing more because my previous money made good or a neighbor's did. A Ponzie Scheme will do that very thing.
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KT;
Good advice, I need to brush up too, I'm an experienced "I've Already Been Gouged Expert." The schemes I fell for 30 yrs. ago are as outdated as a Poodle Skirt, Experience is the best teacher. The latest one has happened the last two Sunday mornings in a row.
Guy who sounds like a gangster calls up wanting to know how much I want to bet on a certian football game. "Huh" I say, "You wana bed on da foodbal games today??" (Click), Most I've ever bet was a dollar on a world series pool, I've never bet on a football game in my life, in fact I don't even like football. So where does this guy get my phone number thinking I'm a big time sports gambler? I'm sure he's not interested in anything less than a five thousand dollar bet, and I would guarante that nobody has ever won betting with him. Is that even legal?
Frank.
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Think it varies by the state. No legal in South Carolina.
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