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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Bonus Mailbag #34: A Better Financial New Year
Ep 299: Turn Your Clutter Into Cash
Bonus Mailbag #33: Investing For All Your Goals
Ep 298: Doing Well + Doing Good
Ep 297: Single Women And Money
Ep 296: The 90 Day Reset You Need For 2022
Ep 295: Buying Your First Investment Property
Ep 294: How To Get Organized For 2022
Ep 293: Inequality, Climate Change + The Jobs Of Tomorrow
Ep 292: Healing From Racial Trauma In The Workplace
Ep 291: Caregivers Are Overwhelmed. Here’s How To Start Healing
Ep 290: Building Your Business During Tough Times
Bonus Mailbag #32: Financial Advisor 101
Ep 289: Student Loan Strategies
Ep 288: Investing For Short-Term And Long-Term Goals
Bonus Mailbag #31: Saving For College
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
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