In this episode, we're talking about how money FOMO, among other things, can make you vulnerable to scams and how to avoid being a victim.
Cryptocurrency was all the rage for a couple of years, and it seemed nothing could go wrong. It was a very social experience. In 2022, 31% of new crypto investors got started with (www.finrafoundation.org/sites...) advice from a friend. On top of that, 10% of investors cited the fear of missing out, or FOMO, as a reason to get into the market.
When inexperienced investors flood into fad investments like crypto, scammers aren't far behind. And that's exactly what happened with crypto. The market collapsed, and thousands of would-be millionaires had their savings wiped out.
Let's make sure crap like this doesn't happen to you.
Host Stacy Johnson (www.moneytalksnews.com/author...) is joined by financial journalist Miranda Marquit (www.moneytalksnews.com/author...) . Listening in and sometimes contributing is producer Aaron Freeman (www.moneytalksnews.com/author...) . Today investigative reporter Zeke Faux, author of the book Number Go Up (www.amazon.com/Number-Go-Up-C...) , just named a book of the year by the Washington Post, will join us to talk about how the fear of missing out can lead to scams.
Before you listen, remember: This isn't financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here.
You can listen to the podcast wherever you get your podcasts:
• Listen on Apple Podcasts (podcasts.apple.com/us/podcast...)
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• Listen on Spotify (open.spotify.com/show/4XzsoL5...)
Watch out for scams
Scams are everywhere. Even smart people can fall for scams. As we talked about with our guest, there are many reasons people fall prey to fraudsters. Here are some scams to watch out for, as well as resources on avoiding scams:
• 9 States Where People Face the Highest Risk of Identity Theft and Fraud (www.moneytalksnews.com/slides...)
• Hear a Loved One's Voice Calling for Help? It Might Be a Scam (www.moneytalksnews.com/loved-...)
• Don't Fall for These 5 Types of Costly Small-Business Scams (www.moneytalksnews.com/slides...)
• 24 Costco Scams Going Around Right Now (www.moneytalksnews.com/13-cos...)
• 7 Text Message Scams to Avoid and Report Immediately (www.moneytalksnews.com/slides...)
• Free Program Uses AI to Spot Scams Before They Trap You (www.moneytalksnews.com/free-p...)
• How to Avoid Mail Delivery Phishing Scams (www.moneytalksnews.com/slides...)
• How to Tell If Fraudsters Have Opened Bank Accounts in Your Name (www.moneytalksnews.com/how-to...)
• 6 Things Scammers Do With Your Cellphone Number (www.moneytalksnews.com/slides...)
• 4 Beliefs That Make You Easy Prey for Scammers (www.moneytalksnews.com/4-beli...)
How to invest-without being scammed
Investing is still one of the best ways to build wealth over time. And, just because cryptocurrency (www.moneytalksnews.com/ready-...) ended up being ripe for fraudsters, it doesn't mean all investments are scams. Here are some resources for making money with investments:
• The Investing Combo Linked to a Better Retirement Lifestyle (www.moneytalksnews.com/the-in...)
• Why Index Fund Investing Is Good for Your Retirement (www.moneytalksnews.com/slides...)
• 7 of the Best Dividend Stocks to Help Fund Your Retirement (www.moneytalksnews.com/slides...)
• 5 Simple Tips to Make Money With Stocks (www.moneytalksnews.com/simple....
8 май 2024
