01.28.26 Bypass Finfluencers / Can You Spot A Scam?

Many young adults recognize the value of early saving and investing long-term. But with 61% of this age group now trusting social media "finfluencers" for investing tips, it’s more important than ever to distinguish between sound financial advice and sales pitches pushing “get rich” ripoffs and worse - conflating gambling with real investing.  Also today - Clark shares a recent story of a retired lawyer who lost $85,000 to scammers posing as Microsoft security, only to have his bank deny a refund. Con artists continue their rampant looting unabated, with ever increasing sophistication, and no one is immune. BUT, there are tells.  Learn their method of operation, how to verify account activity on your own terms, and how to protect your "keys to the kingdom" from the criminals leveraging your data against you.

• Finfluencers Vs The Real Thing: Segment 1
• Ask Clark: Segment 2
• Block The Con Job: Segment 3
• Ask Clark: Segment 4

Mentioned on the show:

• WPost- 61% of young adults trust social media investing tips. Should they?
• Ivestopedia - Investing: An Introduction
• Clark.com - Invest & Retire   /   Retirement Calculator
• What's the Best Savings Account for a Teenager?
• How To Open a Roth IRA
• Target Date Funds: Clark Howard's Favorite Retirement Investment
• Stock Analysis - Free Online Stock Information for Investors
• NYTimes: Tech Support Scammers Stole $85,000 From Him. His Bank Declined to Refund Him.
• Clark Howard's Take on the Chase Sapphire Reserve® Changes
• Should I Ditch My Southwest Airlines Credit Card?

Clark.com resources:

• Episode transcripts
• Community.Clark.com  /  Ask Clark
• Clark.com daily money newsletter
• Consumer Action Center Free Helpline: 636-492-5275

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