Episode #85: Headlines Featuring Scams And Market Crashes

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Today’s Smart Money Question:

On this edition of the podcast, Matt addresses scams that could attack your wealth and the question of whether a market crash could eat into your portfolio.

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(Click the featured times below to jump forward in the episode)

Here Are Just A Handful Of Things You’ll Learn:

1:21 – Matt And Walter Get Excited For Snow.

  •   A recent snow storm made it’s way across the United States. Matt And Walter share their love of wintry weather.

3:08 – Natural Disasters And Scam Artists.  

  • The devastating wildfires in California and hurricanes along the east coast this fall showed us at times the best of humanity. Unfortunately, they also brought out several scam artists trying to make a buck from the tragedy. The financial world of course sees it’s own share of scam artists. Matt shares a recent credit card fiasco and why you should be wary of pop-up ads.

6:33 –  The Dangers Of Private Placement. 

  • Matt shares the story of a client who was prepared to invest in an unregistered investing product. Of course, they were expecting a huge payoff from this magic investing bullet. Instead, they lost everything.

8:27 – Other Scams To Run From. 

  • An organization out of Virginia created several corporations claiming to lobby for the continuation of Social Security. They were asking for donations to continue their work, and go figure, they were pocketing the proceeds.

10:35 – How To Run From Scams.

  • Get a professional who can protect you from various investing scams. Work with an advisor who can help you to vet certain investing products and strategies.

15:49 – Is A Crash Looming?

  • Any time we see a dip in the market, it seems folks take sides on whether the market is going to crash. Of course, the market is unpredictable. After all, past performance is no guarantee of future results, right? However, we let our emotions get the best of us. You need to be careful when trying to time the market and predict how it will behave.

17:08 – A Market Crash Can Present An Opportunity.

  • Markets are volatile, and in reality, a crash or correction can present you with a buying opportunity. However, rather than having Wall Street drive your investing behavior, work with an advisor to develop a long-term investing strategy.

18:00 – Long-Term Planning And Longevity. 

  • Your investing strategy will change as you age. It’s one thing to see your portfolio cut in half at the age of 30. It’s quite another to have that happen right as you’re about to retire. Furthermore, modern healthcare is contributing to a longer life expectancy. While that’s a good thing, you’ll have to make your money last even longer in retirement. As you age, consider taking some of the risk out of your portfolio while still investing for the long-term.

19:30 – Sears Stock Trading Below A Dollar. 

  • Despite a healthy economy, Sears is having trouble surviving. This shows us the direction consumerism is moving. It also illustrates Sears’ inability to keep up with changing trends.

The Answer:

Scams, market crashes, and shifting economic trends have the ability to profoundly impact your portfolio. Build a plan to outsmart the con artists and weather the ups and downs on Wall Street. - Smart Money Questions
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