Thank you for this incredibly important post. I might add that there is a ton of research that shows we will all become more susceptible to financial scams as we age. Cognitive decline is part of life. My uncle was conned from a random call on his cell phone and ended up convinced he had won the Publishers Clearing House Sweepstakes. That made sense to him since it tapped something from his era. The scammers convinced him he just had to send some cash. That escalated until he had sent $50k in cash FedEx to some address in Ohio before I was able to invoke a clause in his living trust and take over as Trustee. He and I had put that in place years ago or it would have been even more difficult. I also got him a new cell phone number but kept the old one and these assholes never give up. They try the scam every 6 months or so from different phone numbers. I can’t stress how trained they are. They will say anything and use high level persuasion tactics. Afterward I got the cell phone records and they had him on the phone for hours instructing him. They had him go to the bank and try to get a Home equity loan. That didn’t work since I had his credit locked. But I was amazed at their audacity. I think everyone should put a plan in place for themselves. Hopefully there is someone in your life you can trust to take over when we all need them. Life has gotten much more complicated and we must adapt.
Thank you very much Tom Basso for this life saving mental equipment and financial life spanning wisdom you've shared with me with us and with the vast world out their. Much appreciated and deeply taking it to the heart and to my investing. God bless you.
To reiterate what others are saying - thank you for your very important post. Although we like to think people are good and well intentioned, there are still some very bad apples out there. Your advice is spot on - always go in with a healthy bit of skepticism and a lot of research and knowledge. Although I'm not always the serene manager of our money, I look to your example and realize where the real important parts in life are and just how blessed I am with family, friends and the ability to live, love and serve. Thanks Tom!!
Dam! That is a shame that scum bags are out there scamming people. I guess all through the history of man, there are cons and thieves looking to take advantage of people. I feel bad for your friend.
I will share your advice with my family. I have already told them to stay away from crypto solicitations, but I will share the rest of your preventative measures with them. Thank you for sharing this Tom.
Thank you for this incredibly important post. I might add that there is a ton of research that shows we will all become more susceptible to financial scams as we age. Cognitive decline is part of life. My uncle was conned from a random call on his cell phone and ended up convinced he had won the Publishers Clearing House Sweepstakes. That made sense to him since it tapped something from his era. The scammers convinced him he just had to send some cash. That escalated until he had sent $50k in cash FedEx to some address in Ohio before I was able to invoke a clause in his living trust and take over as Trustee. He and I had put that in place years ago or it would have been even more difficult. I also got him a new cell phone number but kept the old one and these assholes never give up. They try the scam every 6 months or so from different phone numbers. I can’t stress how trained they are. They will say anything and use high level persuasion tactics. Afterward I got the cell phone records and they had him on the phone for hours instructing him. They had him go to the bank and try to get a Home equity loan. That didn’t work since I had his credit locked. But I was amazed at their audacity. I think everyone should put a plan in place for themselves. Hopefully there is someone in your life you can trust to take over when we all need them. Life has gotten much more complicated and we must adapt.
Thank you very much Tom Basso for this life saving mental equipment and financial life spanning wisdom you've shared with me with us and with the vast world out their. Much appreciated and deeply taking it to the heart and to my investing. God bless you.
This is sound advice for naive investors, Tom. Thanks so much for writing this post.
To reiterate what others are saying - thank you for your very important post. Although we like to think people are good and well intentioned, there are still some very bad apples out there. Your advice is spot on - always go in with a healthy bit of skepticism and a lot of research and knowledge. Although I'm not always the serene manager of our money, I look to your example and realize where the real important parts in life are and just how blessed I am with family, friends and the ability to live, love and serve. Thanks Tom!!
If only our schools spent more time on reasoning instead of stuffing the minds of the gullible with a goo.
Dam! That is a shame that scum bags are out there scamming people. I guess all through the history of man, there are cons and thieves looking to take advantage of people. I feel bad for your friend.
I will share your advice with my family. I have already told them to stay away from crypto solicitations, but I will share the rest of your preventative measures with them. Thank you for sharing this Tom.