When we envision the type of person who falls for a financial scam, there are usually a few key characteristics that come to mind:They may be elderly, using a landline phone, or in a state of panic as the person on the other end of the line informs them that if they don’t hand over $10,000 immediately, they’ll be arrested. But those stereotypes are just plain wrong.
Charlotte Cowles, the Cut’s financial advice columnist and a longtime freelance business columnist for The New York Times, fell for an elaborate new scam that involved Amazon, the FTC, threatening her child, and handing a box with $50,000 in cash through the window of the backseat of a car.
In Mailbag, we hear from a listener who’s wondering what the difference is between an hourly financial advisor and one that charges a flat fee. We also address how to shop around for title insurance when you're buying a home. In our news of the week, we talk about the big changes coming to the commissions we pay when we buy and sell homes, what the producer price index (or PPI) coming in hotter than expected means, and a new study about how Americans are feeling about their finances.
Takeaways
Chapters
00:00 News You Can Use
6:43 Charlotte's experience
12:15 Psychological tactics used by scammers
28:32 Red flags to look out for if you think you’re being scammed
32:43 Mailbag with Julia Chatzky
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The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney.
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Ep 287: How To Retire Happy
Bonus Mailbag #30: Your IRA Questions, Answered
Ep 285: Facing Financial Abuse
Ep 284: An Insider’s Guide To Cars: Buying & Selling
Ep 283: The Self Love, Self Worth Connection
Ep 282: Finding Success Without Losing Yourself
Bonus Mailbag #29: What To Wear: Tailoring, Thrifting and Work Attire
Ep 281: The Truth About Couples And Money
Ep 280: Taking Risks and Making Choices
Bonus Mailbag #28: Paying For College + Retirement
Ep 279: Becoming A Boundary Boss: You Can Say No
Ep 278: We're Lonely. Let's Fight It With Friendship.
Ep 277: Earn Your First $100K
Bonus Mailbag #27: Mortgages, Rental Income And Recasting A Loan
Ep 276: Feeling Stuck? How To Figure Out What You Want To Do
Ep 275: #SoberCurious? This Show Is For You
Ep 274: How To Get Hired Now
Ep 273: Help! I Have Nothing To Wear
Ep 272: How The Best Investors Do It
Ep 271: Budgeting Without Tears
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