5 Tips to Keep you Scam-Free this Summer

5 Tips to Keep you Scam-Free this Summer For the majority of Americans who plan to take a vacation, attend a concert, or work on their home or garden this summer, this season comes with its own unique consumer challenges. Here are the top five scams and frauds to be alert for this time of year…

Wall Street Fights for Our Right to Pay 5% Fund Fees  Too many Americans are still steered into financial products that are far more profitable for salespeople than for clients, and pay high fees and commissions. With basically anyone able assume the “financial adviser” title, whether at a brokerage or an independent firm, many investors remain baffled about whom they can trust.

Everything’s an Index Fund Now Here is a story about the marketing of financial products. Sallie Krawcheck is doing some stuff with the women’s network that she bought last year, changing its name from 85 Broads to Ellevate, and using it to offer “an index fund focused on companies where women make up a significant portion of officers and directors”

What Happens If I Ignore Debt Collectors? In 2010, a Credit.com reader lost his condo to foreclosure, leaving an unpaid second mortgage of $40,000. “I ignored their letters, never signed any of their notices, etc.” he wrote. While he may have hoped that debt would just disappear, it recently resurfaced. “Now it came (through) a lawyer to pay the amount,” he wrote.

The financial costs of aging in place Many people approaching retirement express a desire to age in place, living in their current home or community until it is no longer physically possible. To do that, however, it’s best to budget the dream into your financial plan. By doing some preparation, you have a greater likelihood of being able to stay where you are, or moving on your own terms — not because you’re forced financially to make a change, said Roger Roemmich, chief investment officer of ROKA Wealth Strategists and author of the book “Don’t Eat Dog Food When You’re Old.”

 

 

 

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