Retirees Should NOT Trust These 10 People

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This video discusses 10 types of people that retirees should absolutely not trust. From disingenuous friends to predatory lenders, and everyone in-between. This video covers the entire gambit of dishonest operators.
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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.

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8 окт 2024

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Комментарии : 146

@eunicef1 11 часов назад

You have the perfect speech tempo and tone for these educational videos, Schmidt. Thanks.

@peterschorn1 15 часов назад

1) People 2) People 3) People 4) People 5) People 6) People 7) People 8) People 9) People 10) Everybody else

@Rollochrome 14 часов назад

That ain't no schmidt

@clbcl5 14 часов назад

You forgot humans, they are the worst people.

@resnonverba3351 11 часов назад

Amen

@xlerb2286 10 часов назад

Yeah, you're not wrong ;)

@machintelligence 7 часов назад

Trust no one -- not even me.

@michaelfortney7510 13 часов назад

I agree with all of this and appreciate the fact that you share your own experiences and mistakes. It shows how genuine you are and that anyone can fall victim. I’ve seen my own lifelong customers, many with advanced degrees fall for scams even after I warned them.

@cubiczirconiabeard5366 5 часов назад

Sir Isaac Newton lost 1/2 his wealth in the South Sea scam.

@IFSpecialist 13 часов назад

Dentists! Dentists frequently recommending unnecessary procedures and downright scams.

@DavidSmith-ee2yf 13 часов назад

Some are, some aren’t

@davidpowell3347 13 часов назад

I believe that dentistry is in a sort of crisis at this time -- the whole medical care system is kind of in limbo between socialized medicine and private provider medicine with the worst aspects of both -- and dentistry has always been artificially distanced from mainstream medical care -- remember it originated with barbers

@Mexicobeanpole 13 часов назад

Yes. And it’s super expensive!

@DavidSmith-ee2yf 13 часов назад

@@davidpowell3347 it began associated with barbers . Dentistry is very associated with medical care.

@Jane5720 11 часов назад

Gossipers Pushy Salespeople Overly Negative People Manipulate Relatives Chronic Borrower Dishonest Contractors Aggressive Realtor Disingenuous Friends Untrustworthy Health Care Providers Predatory Lenders Get Rich Promoting

@jforger 11 часов назад

Why is it that only retirees should avoid these types of people? It seems that everyone (retired or not) should avoid these types of people.

@jonniesantos 8 часов назад

OMG, you nailed it! Thank you. PS: You could add HVAC contractors too who don't want to fix your system, but rather sell you new equipment.

@Bill_Woo 10 часов назад

Those are great tips! The rip off of "claiming they didn't get your payment" story reminded me of what AXA Insurance Company did to me - but in the other direction. I requested a check in February, it arrived and I deposited it in May(as they were 100% aware), and so help me they charged 3 mos. interest and would not relent. I WORK in insurance! So any of you can be conned.

@Learnmoretoday59 13 часов назад

Great video. I think your perspective as a CPA is helpful in explaining complex and sometimes nuanced subjects in a clear, concise, and yet detailed manner. Appreciate the thoughtful information you provide to the public.

@HolySchmidt 13 часов назад

Thank you

@markdunn1931 11 часов назад

Spot on with the medical providers. I always ask a lot of questions and seek second opinion regarding surgeries. Great Channel, cheers...

@skippylippy547 9 часов назад

Same here.

@tammy9964 12 часов назад

Great video! These days you have to on alert at all times. Thank you.

@JDJNJ21C 14 часов назад

Solid, common sense, practical advice - nicely done. Thanks Jeff!

@byoung5520 14 часов назад

That leaves us with pretty much no one…….sounds about right to me

@HolySchmidt 14 часов назад

The herd is thinning

@mnalgal4412 10 часов назад

@@HolySchmidt 😆

@michaelcollins8316 11 часов назад

I enjoyed your story about the suit, I would think that you didn’t watch the British comedy “Are you being served?”. They use to play that trick in the men’s wares department all the time.

@skippylippy547 9 часов назад

I loved watching that show.

@frankb1 14 часов назад

Good video. Thanks for posting. I consider myself a fairly sophisticated consumer, but I fell for a surgeon who said I needed surgery right away when I could have postponed it for years. Also, I have been told that Medicare will pay for a second opinion whenever the recommended treatment involves surgery.

@HolySchmidt 14 часов назад

Thanks for posting

@resnonverba3351 11 часов назад

Absolutely the case with more and more people in the US. Thank you for sharing.

@stephenzies8867 11 часов назад

The World Is An Evil Place. Stay Safe Stay Prepared Watch Your Six

@chiaraperry472 Час назад

I am so glad I found your channel! Great content! Thank you

@tomwat2020 7 часов назад

I am planning on retiring, and I'm 39 years old. Now that I have 425K saved for an early retirement at age 50, 10K in an HSA, and a property that could yield an extra 200K, what possibilities do I have for a steady stream of income?

@edwardsco001 7 часов назад

Today, it’s easier to figure out how to improve your retirement savings. With inflation, you can use a professional portfolio manager to explore different markets passively. The impact of US dollar shifts on assets is complex

@elisha1987 7 часов назад

Even if finance isn't your strong suit, you can always bring in an expert. My $650,000 retirement fund took a nosedive in April, but I quickly called in a financial advisor. They crafted a smart plan to turn things around, and I’ve since pocketed over $350k in gain

@scotted1515 7 часов назад

That’s wonderful! Do you think your advisor might be willing to speak with a stranger? I’m in serious need of proper portfolio allocation

@elisha1987 7 часов назад

There are a few standout experts in this field. Many people do underestimate the importance of a financial advisor until they encounter financial loss. I’ve tested out a handful over the years, but Kris Lizette Dornbush has been my top pick for the last five years. Her performance is consistently impressive, and she’s a real name to know in the industry. Check her out

@bobadams7654 6 часов назад

SCAMMERS! Report them!

@robertryan3490 12 часов назад

Never ask a barber if you need a haircut.

@curtisstewart3179 12 часов назад

Same with a bankruptcy attorney.

@edennis8578 11 часов назад

Same with a surgeon.

@WAL_DC-6B 10 часов назад

same with a mortician

@skippylippy547 9 часов назад

@@WAL_DC-6B LOL!!!

@jjrr2273 7 часов назад

@@WAL_DC-6B dead on my friend dead on ...

@austinbar 2 часа назад

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

@joshbarney114 2 часа назад

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

@rogerwheelers4322 2 часа назад

I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.

@FabioOdelega876 2 часа назад

Good gains! who is this professional that guides you please? enthused about investing for my eventual retirement but dont know how to go about it, for now I only invest in my 401k through my employer and gains are quite slow.

@rogerwheelers4322 2 часа назад

‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@FabioOdelega876 2 часа назад

Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.

@edennis8578 10 часов назад

I had the same problem when I had a regular credit card with HSBC many years ago. Every payment was "late" even if I mailed it two weeks before the due date. That was before the internet, so there was no online payment option. Sending a check was all there was.

@sowhat1073 14 часов назад

Hiring contractors is such a PITA. My last roofing and gutter project was a nightmare for my wallet and my roof, luckily he used PayPal for payment and apparently didn't know you can dispute charges through them. He came and fixed the problem eventually. He was whining that I made him bounce checks, but I am not the one that left the job without finishing it. He still hasn't come back to spray my roof with de mossing agent like he promised.

@jjrr2273 7 часов назад

Yep lazy and shady af - sad to see so little personal integrity these days but leaves the doors wide open for the legit firms

@treadtrick 9 часов назад

I'm certain I learn SOMETHING from you every video. Thank you as always! I have been a Popeye cartoon fan all my life thanks to having an awesome older brother. But I had no idea Wimpy's first name was George! My encyclopedic brother probably knew it tho lol.

@rosammitchell6313 12 часов назад

Thank you for this spot on video!!!!

@michellewinkler3985 12 часов назад

We finished our basement awhile back.. I was calling people, having them come over to talk to them, etc. My husband worked at the time. He said, I trust you and I know you'll pick the right people (we went over things later that day when he got home) One guy said, I don't work with women, only men, where's your husband so I can talk to him!? Needless to say, he was fired!!!!!!

@jps0117 7 часов назад

Great video. Many people have poor epistemology and are stuck in Stage One of the Dunning-Kruger effect.

@oakwood396 11 часов назад

The HAMMER NAIL problem: Ah Yes! The orthopedic Surgeon who wants to operate? Similar to EVERY IT GUY/GAL whose solution is their area of EXPERTISE? An ORTHOPEDE will look at the demographics in an area (as well as the competition) and come up with the number of KNEE, HIP, Shoulder replacements in the area before opening the office. A database guy addresses the problem as a DATABASE problem and then what else> The answer is a DATABASE Solution. Same with a Network Guy/Gal, a UNIX Guru. A Lawyer makes it a LEGAL ISSUE with a LEGAL SOLUTION. It all boils down to the HAMMER/NAIL Issue... If youo get a NEW HAMMER, everything starts to look like a NAIL!

@suemilkbone4868 15 часов назад

Hired help, especially contractors, has got to be the worst. If you are older (and particularly a single senior woman), you might just as well have "PREY" tatooed on your forehead. In fact, there was an honest roofing company employee who told me recently that when he used to work at a competing roofing company and he was sent out to bid a job on a house owned by a single senior, to bid higher than usual.

@HolySchmidt 14 часов назад

Interesting…

@suemilkbone4868 14 часов назад

@@HolySchmidt Not just that, but he also told me that competing roofing companies will call each other after they give a bid on a lucrative contract (knowing people usually get multiple bids) and ask how much they bidded in order to keep their bids around the same ballpark, kind of like collusion.

@tomcavanaugh5237 13 часов назад

For those of us with short attention spans, a list with times would be greatly appreciated. Some go the extra length of chapters, but that's probably too much to ask for.

@Barbara-te7xz 11 часов назад

Doctors, dentists and veterinarians.

@arthurbishop3173 9 часов назад

Don't forget optometrists

@Barbara-te7xz 8 часов назад

@@arthurbishop3173 I agree, however the one I have now is good so far. I went through 4 before I got him.

@jjrr2273 7 часов назад

real estate 'agents' sell 'unaffordables' only to jump in a try to list the short sale or foreclosure! NO ONE needs these thieves

@mspock7 13 часов назад

Very nice video. Thank you.

@lenap.9611 7 часов назад

Totally agree! Thank you!

@bobadams7654 6 часов назад

DO NOT trust the scammers that are posting in these comments. Give them a thumbs down and REPORT THEM. Click the 3 dots next to their comment.

@20thcenturyrelic 8 часов назад

Good advice! Thanks for the video. I tend not to react well to pushy salespeople; if they annoy me enough, I'll decide not to buy from them.

@MC-bw5fc 14 часов назад

fantastic information..

@HolySchmidt 14 часов назад

Thank you

@clbcl5 14 часов назад

Any one who says they are a protector of another.

@harveyh3696 11 часов назад

Great presentation!

@NSPresbyterian 14 часов назад

You forgot buying any property with an HOA, paying someone to do your lawn work is cheaper than HOA dues, and you don't have to follow someone else's rules as to how you live your life...

@HolySchmidt 14 часов назад

Good point

@penelope5500 13 часов назад

I prefer an HOA neighborhood where some standards are kept in place. No one is telling anyone else how to live their life.

@Mexicobeanpole 13 часов назад

@@penelope5500. Of course they are. I’ve lived in HOA and non HOA. “HOA commandos”are a real thing.

@penelope5500 12 часов назад

@@Mexicobeanpole I have lived in HOA & non HOA too. I prefer HOA. People are free to choose.

@amyyates8273 11 часов назад

@@penelope5500I do as well. Our HOA isn’t bad and it keeps property values in my neighborhood high. If you don’t like one, don’t move to a neighborhood with one.

@lilblackduc7312 10 часов назад

So, don't trust Mass Media! Got it. Thank you, Mr. Schmidt...🇺🇸 👍☕

@Barbara-te7xz 11 часов назад

Nice to see somebody has the guts to call out unscrupulous medical providers. They seem to have always been untouchable.

@1sense21 14 часов назад

Great information. Thank you

@javaskull88 3 часа назад

Let’s be clear that “overly negative people” does not include friends, families and colleagues going through a hard time with their health, or family problems or a business setback. These people need our emotional (and sometimes financial) support.

@mendesoto 9 часов назад

Thank You

@judysbakeryandtestkitchen1654 8 часов назад

I had a Neurosurgeon who wanted to put a shunt in my brain to drain fluid into my stomach. Thankfully, my primary doctor looked at an MRI and said I didn’t have the need for it. She said I didn’t have the problem that the surgeon said I did. I guess Surgeon only see knives

@dwalker5175 13 часов назад

You have remarkable insight.

@giovannidigitalart 14 часов назад

For those with older parents in retirement be very diligent with them. My parents were extremely street savy but the older they get the more they let their guard down. Over sharing in social media is a problem. There's a lot of social engineering but There. Just be care. Entrust and verify.

@Mexicobeanpole 13 часов назад

???

@SpyderRTL 12 часов назад

Please put chapter markers in your videos. Makes it easier to watch.

@jpturner171 13 часов назад

Great video passed on to our 3 daughters.

@TeamLynchBMD 14 часов назад

Dead on accurate 👍

@dawnl4127 15 часов назад

🥰 Perfect! Thank you.

@Crymeariver227 12 часов назад

I’m dumbfounded you not only did not dispute the full payment was received late when it clearly wasn’t late, but you paid a $30 late fee for a payment that wasn’t late. The predatory signs were standing at attention, why on earth wouldn’t you challenge that?

@HolySchmidt 12 часов назад

Dealing with a predatory lender who does this intentionally means that it’s her word against theirs. As much as I didn’t like it, it’s more important to protect her credit rating than being right. I did report them to the BBB after it was closed

@ElvisSirinBo 15 часов назад

If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..

@collinsmack 15 часов назад

I paid $1900 last year in property taxes and thought that was highway robbery.

@Grey-y6u 15 часов назад

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

@BrentJ.Sanchez 15 часов назад

Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.

@Joyce-is7kq 15 часов назад

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments.

@Joyce-is7kq 15 часов назад

In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence

@magnatarbeing8749 2 часа назад

Just dont trust anyone....period.

@davidpowell3347 13 часов назад

Beware of the contractor who comes to your door or property and "notices" that your gutters or chimney or anything needs work - - - more than even odds that he will at the least grossly overcharge,he might even do further damage that he will then charge to repair I think these (and a lot of predatory salespeople or scammers) go after older people especially

@marshallhughes4514 13 часов назад

In my experience the best contractors don't have time to run around trying to drum up a lot of business. They are already booked and fully engaged in other jobs.

@skippylippy547 9 часов назад

It seems that everyone is promoting buying and holding gold and silver as an investment. I don't understand this. I understand that gold and silver can be a hedge against inflation but I've never seen it as an "Investment". Am I wrong?

@luv2dancesalsa465 15 часов назад

The get rich quick schemes… thanks for mentioning them AND would you do another video just on this topic with lots of scenarios clearly explained focused on different age groups (seniors)?

@HolySchmidt 14 часов назад

Good idea!

@xlerb2286 10 часов назад

The only disagreement I have is that it's not just retirees that should avoid these types of people. ;) Your daughter got a $60 lesson in avoiding scam lenders. That's cheap at 10x the price if she learned from it :) And yes, it takes a special type of scum to do that, especially to young'uns.

@barbiec4312 13 часов назад

Anyone who says they’re going to make America great again.

@johngarceau541 11 часов назад

Trump2024

@RashelYeva 11 часов назад

!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks will be appreciated!

@SonyaYeva 11 часов назад

I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.

@HaholBarton 11 часов назад

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $100k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

@SonyaYeva 11 часов назад

Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.

@RashelYeva 11 часов назад

nice!! once you hit a big milestone, the next comes easier. How can i reach her, if you don't mind me asking?

@SonyaYeva 11 часов назад

look up her name on the web for her website.

@TheLookingOne 12 часов назад

Type 1) Donnie Trump Type 2) Donnie Trump Type 3) Donnie Trump ...

@edennis8578 10 часов назад

Ooh, someone has TDS. You forget, he's already been president. Lower taxes, less red tape, reigning in the corruption of the EPA, energy independence, lower illegal immigration, bringing back manufacturing, and less war? Sign me up!

@owggarage723 15 часов назад

Would one of these people be RU-vid channel owners espousing retirement advice?

@bryanwhitton1784 15 часов назад

With those you need to learn judgement. This is typically one of the good channels. You just have to always remember it is called personal finance with the emphasis on personal. You need to listen and use as it applies to your life.