Eventually, almost everyone will receive a “great offer” or a “hot tip” on an investment. But, most people think they won’t be targeted because they are savvy investors or are adept at reading others. Unfortunately, when it comes to investment fraud, the victims – and the scammers – have many faces.
Perhaps it is an inside tip on a hot new stock from someone at church, or an offer of rare gold coins, big profit oil and gas leases or one-of-a-kind business opportunities from someone at your gym.
With the current state of the economy, the offers are growing more and more prevalent and can be tempting. The “can’t lose,” “no risk” shots at instant wealth may sound too good to be true. Unfortunately, most of them are.
To have a secure and comfortable retirement, each of us should plan to invest. But there’s a difference between investing and gambling. Often, that difference may come down to the homework we do before we put our money on the table. Knowing who and what to look out for, as well as what types of investments are right or wrong for each of us, can help us make wise and safe investment choices.
To help Alabama consumers protect themselves from investment fraud and scams, AARP is teaming up with the Financial Industry Regulatory Authority (FINRA) and the Alabama Securities Commission to offer a series of free informational meetings throughout Alabama during the next year.
At these meetings, experts in wise and safe investing will help consumers learn how to better prepare for their financial futures, while avoiding some of the most common investment scams. Investors will learn the top ten questions they need to ask before putting money down on an investment. They will also learn how to pinpoint the tricks and tactics used by crooks and scam artists.
Each attendee will also receive free informational brochures, and lunch or refreshments will be provided. The seminars are free, but pre registration is required and space is limited. To learn more about an event in your area, visit www.aarp.org/al and visit the blog. Events are currently planned for Mobile and Baldwin Counties in October, but new events are being added regularly.
Financial Industry Regulatory Authority
The Alabama Securities Commission