How To Spot An Investment Scam

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[The following is a partial transcript of this episode of The Scott Alan Turner Show. Listen to the full episode to hear this story, listener questions, money hacks, and inspiring stories of people that are changing their financial lives. Subscribe to the free podcast on iTunes or Google Play]

It’s time for something new today. I’m calling it the Friday Feast. It’s all the stuff I didn’t get to during the week.

The Home Owner Annoyers

Before buying into a new area, condo, townhouse, subdivision, find out what the rules are. Most of the time the covenants are given at the closing table.
People assume they can just put a yellow flower pot on the front step and it will look nice. Oh no you don’t, you didn’t submit an application and a non-refundable fee to the review committee.

Congrats if you live where there are no rules. If not, it might seem silly but it’s worth knowing ahead of time what’s allowed if you had grand plans.

If you think you’d like an above ground pool, say for $8,000, and the only thing the overlords allow are in ground pools, which are $40,000, that’s a bit of a pickle. If you’ve got jet skis or a fold-up camper, can you put it in your driveway or will you have to pay $100 a month for off site storage? Oh, you wanted new energy efficient windows on your 100 year old fixer upper? Well what’s the historical preservation society have to say about that. Somebody wants to paint their house spring green? Well we only allow sheen green. Paint it again.

The Only Stocks I’ll Teach My Kids To Buy.

“It’s the best way I know how to grow rich – wildly rich… The investment secret in this essay is the only one I plan to teach my children, directly. And the only kind of investing I will urge them to stick with, no matter what. This is also the only kind of investing I believe anyone can do successfully without using trailing stops.”

blah blah blah, Warren Buffet, blah blah, drop some more names. blah blah

Our [edited product name] has just turned six years old and it’s beating the market! My advice is simple to follow. And it’s exactly what I’m going to teach my children. And buy my newsletter for $199 a year. One of us is sure to make money!

Anytime you hear ‘the children’ your garbage meter should go off. Expect to get sold on something, and usually not something that’s going to be to your benefit.

People can be sincere, but be sincerely wrong. Find someone that’s sincere and sincerely right. Like my cat, who was named one of Barron’s top financial advisors for 2018. Save your money on investing newsletters. It’s a waste. Ask around to your family if they subscribe to any. If the answer is yes, send them the link to the audio version of 99 Minute Millionaire and say ‘hey, you like investing newsletters, this one is free for you and I thought you might like it.’ Only you can prevent retirement fires. And me.

Most dependable cars

How the major brands ranked:

  1. Lexus: 106
  2. Porsche: 108
  3. Toyota: 108
  4. Chevrolet: 115
  5. Buick: 118

And the worst:

  1. Ram: 171
  2. Dodge: 178
  3. Volvo: 204
  4. Land Rover: 221
  5. Fiat: 249

Before you start car shopping, check J.D. Powers. I’d rather you use Consumer Reports as your primary guide. Check KBB too and Edmunds.

Save $1,000 This Week

How I Saved Over $1,000 On Everyday Expenses

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99 Minute Millionaire. A MUST LISTEN:

My best-selling book is available as a FREE audiobook for a limited time. 200+ 5-Star reviews on Amazon. Available right now on the podcast.

If you’re ready to take your finances to a whole new level, make sure you subscribe to my podcast.

Follow us for Millionaire Success Habits

Notice the makes and models that rank consistently at the top. You see those will save you money over time, and headaches.

Once you’ve done your research you’ll have a lot more confidence in what you buy, and those voices of your friends, family, and co-workers who you can hear say ‘you know what you should do is’. You can put them to rest.

Keep your focus on car facts, not car fiction and car myths.

Tesla, not on the list. Not enough to be ranked. Another story came out saying people were waiting months to get repair parts for their Tesla. Take it with a grain of salt, they found the one dude out of 100,000 who’s car was stuck at the auto body shop since last September.

Amazon HQ2 is pulling out of New York City

Amazon is bailing on its New York City location and people and businesses that were running to the gold rush are now in a swamp of despair. How do you suppose all those new condo and business owners who overpaid for real estate feel right now?

People got greedy, acted too quickly, and then got burned.

Don’t count your chickens before they’re hatched. Don’t spend a bonus before you have the cash. Don’t book the vacation until the new deal closes. Don’t buy property based on the expected appreciation over the next 10 years.

Get amazing returns in just 7 days!

Here’s an Instagram post I found:
Do you want to start up a second source of income but you really don’t know how? Do you want to put your money to work thereby making more money? Register and invest with a licensed trading company and be traded for by a trusted account manager that would manage your trading account to produce amazing returns in just 7 days. Are you ready to make that second income stream work for you, DM me to get started

Dude is standing in front of a Corvette at the airport rental car display! Wow! If only I could take a picture with a corvette! Oh wait, I can. They had one on display at Costco.

Do you suppose this is legit? Recognize the red flags of unrealistic promises –

  • fancy cars
  • fancy homes
  • yachts
  • private jets
  • pictures with the rich and famous

because you won’t get scammed.

You don’t have to fall for this stuff. If you have, so have I. I get it, I know the greed in me took over in the past. Easy money, no effort. We’ve got to stop that thinking, because that’s high risk and a loser’s game.

Run, don’t walk from these amazing opportunities to build wealth in just 7 days

Quotes

How To Spot An Investment Scam How To Spot An Investment Scam

Save $1,000 This Week

How I Saved Over $1,000 On Everyday Expenses

Take this FREE 7-day challenge to learn how you can do the same