What are the most common types of fraud or scams?
- Guarantee High Yield
- Ponzi or Pyramid
- Risky Oil and Gas Drilling
- IRS Scam
- Jury Duty Scam
- Catfish or Sweetheart Scam
How can you protect yourself?
- Find out if they are a licensed securities professional
- Check them out with the SEC
- Never verify information via e-mail
- Seek help from people you trust
- Report fraud
- Don’t answer calls from unknown numbers
- Don’t interact with unknown callers, just hangup
- Don’t connect to free wi-fi
- Don’t use the same password for everything
- Don’t create a document called “Passwords”
- Don’t click on links that look strange
- Don’t allow strangers access to your devices
What are some red flags?
- Guaranteed to double your money
- Limited time offer, must act fast
- Little known loop hole
- Low risk and high reward
Source: Nick Vonderau, Marketing Specialist, Alabama Securities Commission, Caregiver College Presentation, 21 June 2019
My mom bought this vacuum cleaner in 1977. The vacuum cleaner moved around with us and has literally been all over the world. As you can see, my brother enjoyed playing with it and would even ride on the canister while Mom was vacuuming.
After 40 years, the vacuum cleaner still works; however, the motor started overheating and is in need of repair. My mom didn’t want to just throw it away. After all, there are so many memories and funny stories attached to the vacuum cleaner that it started to feel like a family heirloom. Also, my brother passed away two years ago which makes those memories even more special.
Mom and I discussed the issue and agreed the vacuum cleaner should spend its retirement years at the Vacuum Cleaner Museum in St James, Missouri. We drove 500 miles and donated the vacuum cleaner to the museum yesterday.
The curator of the museum was excited about receiving our vacuum cleaner, because he has not been able to obtain this model and it will be a unique piece .
The vacuum cleaner will be cleaned and pampered over the next few days. Then it will be ready to spend its retirement relaxing and being admired by people.