Internet Scams & Fraud That Can Wipe Out Your Entire Retirement | News or Noise

The internet is an amazing tool for information gathering and dissemination. Unfortunately, from its beginnings in the late 1980’s, it has also been a hotbed for scams, con artists, and outright fraudsters too. No, internet-based fraud didn’t begin with the recent stable coin and Alt-coin frauds, NFT’s, or Reddit board pump and dump stock schemes, it’s been around for 35 years. Internet scams are continually evolving. The FBI documented a record $3.5 billion in losses due to internet crimes in 2019. Those numbers are before the 2020 Covid lockdowns, that sent 10’s of millions of newer, less technological savvy users flooding onto social networks looking for information and entertainment. The AARP even has a huge portion of its website and mountains of resources devoted to money scams and frauds for retirees and their community. Click here to learn more!

 

Here’s the link: https://www.aarp.org/money/scams-fraud/

 

As you know, our constant advice for investors is to “tune out the noise.” But sometimes it is hard to know what’s noise and what’s not! That’s what this series is going to be about.

 

Our goal here is to approach these stories and each topic from an independent, investor-first, standpoint, divorce ourselves from personal feelings, emotional bias, or political opinion, and briefly analyze what we believe each story means for long-term investors.

 

These are going to be quick, casual, opinion pieces, and while we will use data to support our view, we will most likely be wrong in our interpretations, at least some of the time. However, we are looking to practice what we preach, and to help investors to rationally and critically analyze emotion-laden stories.

 

So with that said…

 

News or Noise?

 

Do you have a retirement plan that goes beyond allocating funds to truly fit your needs? We can help you create a retirement life plan customized for your retirement vision and legacy. Call us at: (877) 896-0040

 

If you have $500K or more and would like a partnership with a firm to help you manage your investments and financial plan as in these videos, click on this link to connect with our advisors: https://click2retire.com/internetscamsfraud

 

About Chris Perras, CFA®, CLU®, ChFC®, Chief Investment Officer

 

As CIO, Chris is the lead investment strategist and director of research at Oak Harvest Financial Group. Chris develops the firm's core market outlook, putting his decades of experience and expertise to work for our clients. He hosts Oak Harvest's podcast, "Stock Talk," available on the website with new episodes each week.

 

He completed his undergraduate studies at Georgia Tech, and went on to obtain an MBA from the Harvard Business School. Driven by a desire to maximize his knowledge and skill set, he acquired a plethora of financial planning and investment management qualifications, becoming a Chartered Life Underwriter (CLU®), a Chartered Financial Consultant (ChFC®), and a Chartered Financial Analyst (CFA®).

 

Important disclosures: Content of Oak Harvest podcasts expresses the views of the speaker and is for informational purposes only. Oak Harvest believes that any data, articles, or information cited are reliable at the time of creation, but does not warrant any information contained herein to be correct, complete, accurate, or timely. The views and opinions expressed herein may change without notice. Strategies and ideas discussed may not be right for you — and nothing in this podcast constitutes personalized investment, tax or legal advice, or an offer or solicitation to buy or sell securities. Indexes such as the S&P 500 are not available for direct investment and your investment results may differ when compared to an index. Any specific portfolio actions or strategies discussed will not apply to all client portfolios. Investing involves the risk of loss, and past performance is not indicative of future results.