Fraud Flags 2 Emotionality

I’m Miriam Neff, and I’m Valerie Neff Hogan, with Wise Women Managing Money.

M It’s common for someone who just earned a huge salary, inherited money, received a windfall to be targeted by financial fraudsters.  Statistics tell us that many lottery winners are poor within years.  Athletes who earned millions are later without resources.  Valerie, how do we spot these?

V Almost always the appeal is emotional.  You deserve this.  After what you’ve gone through, we’ll watch over this for you.  For your protection, do NOT act hastily.  Tell them you will not be making a decision until you have fact checked their proposal and discussed it with trusted advisors, which may include a lawyer and financial planner.  Vet all professionals.  You have no obligation to return a phone call, answer their call, and never meet with them alone.