Don’t Get Scammed

When you invest you have to negotiate a number of hurdles. But one you can avoid is falling victim to a scam designed to separate you from your money. Here are some tips that will help you do that:

• Remember there are no shortcuts. Whether you’re investing for income or for growth, remember that investing is a long-term strategy.
• Look out for scams. Hot tips — even from your best friend — and get-rich-quick deals are almost always scams. So is any investment you’re told you have to buy right away and can’t tell anyone about.
• Know that higher potential return comes with greater risk. If an investment guarantees otherwise, the only thing you can be sure of is that you’ll lose your money.
• Avoid unregistered investments.
• Be skeptical. If an investment sounds too good to be true, it probably is.
• Check the credentials of any salespeople or advisors that want to work with you with your state securities regulator or the BrokerCheck link at www.finra.org. Links to an external site.

 

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