Be especially vigilant if you're nearing or in retirement. According to a recent study by the North American Securities Administrators Association, nearly half of all investor complaints submitted to state securities agencies came from the senior set. According to the association, bogus operators sometimes con older investors through free-lunch seminars that are followed by calls from salespeople a few days later (a common recommendation is to liquidate securities and use the proceeds to buy indexed or variable annuities).
Oh, and one bonus tip: If someone promises an investment return that is unnaturally high or steady, the warning alarm should start sounding.
http://seekinglemonade.blogspot.com/ of CA @ Mar 06, 2009 16:06:03 PM
Tony Lee of CA @ Mar 06, 2009 11:19:07 AM
CO of Queens of NY @ Jan 03, 2009 11:51:02 AM