“If It Sounds Too Good…”

By: Frank E. Fain PhD

“Do not have two differing weights in your bag – one heavy, one light. Do not have two differing measures in your house – one large, one small. You must have accurate and honest weights…For the Lord your God detests anyone who does these things, anyone who deals dishonestly.” Deuteronomy 25: 13 – 15 a, 16 NIV

Every “adult age 55+” I have visited with recently is concerned about money. Record high fuel, utility, and food prices coupled with recent losses in the stock, bonds, and money market investments have placed many pre-retirees and retirees are under tremendous financial pressure.

These days are fertile ground for financial fraudsters. State officials in the Midwest report a significant increase in the number of high-pressure, questionable investment schemes being promoted to maturing adults. It seems like every maturing adult in Missouri has been invited to a “Free” meal by a “Senior Specialist” who is promoting some high return investment product that is “safe and secure” and is ONLY available that day.

How does one avoid being a victim of financial fraud?

First, the best way to combat financial fraud is to have a comprehensive financial plan for your investments, insurance and estate. If you have taken the time to define your financial goals and have a good plan it should be easy and automatic to say “NO” to all solicitations.

Second, secure from Missouri’ Secretary of State office a copy “Senior Investment Guide, Identifying Investment Risks.” This is an excellent free brochure that gives several suggestions for wise and safe investing. Available online at www.MissouriSafeSavings.com

Third, follow these words of advice about investing:

Always check the company’s and investment advisor’s credentials. You can obtain information about any investment, stockbroker, or investment advisor by calling the Investor Protection Hotline: 800-721-7996.

Always “sleep on it” before investing in any product. Take you time, do your homework on the investment, escape any pressure to make a quick decision.

Be cautious when responding to unsolicited investment offers from emails, mailings or door-to-door, especially if offers come from companies outside our country

Never withdraw funds from your bank account at another person’s request, including someone who claims they represent law enforcement or the bank’s internal security office.

Seek advice from trusted financial advisor, family members or friends before investing any money.

Watch for these WARNING signs of an investment scam:

Only a “select group of people” will get to invest

It is a “risk free” investment with High returns\

You must invest Now, this is a limit offer available only today

Presenter refuses or only vaguely answers questions.

Little to no written information: you must take the presenter’s word

Presenter insists “you don’t need to talk this over with anybody”

Finally, when it comes to investing remember the wise old statement “If it sounds or looks too good to be true, then it probably is.”

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	Always check the company’s and investment advisor’s credentials. You can obtain information about any investment, stockbroker, or investment advisor by calling the Investor Protection Hotline: 800-721-7996.
	Always “sleep on it” before investing in any product. Take you time, do your homework on the investment, escape any pressure to make a quick decision.
	Be cautious when responding to unsolicited investment offers from emails, mailings or door-to-door, especially if offers come from companies outside our country
	Never withdraw funds from your bank account at another person’s request, including someone who claims they represent law enforcement or the bank’s internal security office.
	Seek advice from trusted financial advisor, family members or friends before investing any money.

	Only a “select group of people” will get to invest
	It is a “risk free” investment with High returns\
	You must invest Now, this is a limit offer available only today
	Presenter refuses or only vaguely answers questions.
	Little to no written information: you must take the presenter’s word
	Presenter insists “you don’t need to talk this over with anybody”