In the Wall Street Journal Article, "Laws Take On Financial Scams Against Seniors,"
the WSJ writes that many states are passing harsher penalties for "financial advisers" who sell financially dangerous investments to unknowing seniors.
Hidden in the article is a great list of rules to live by if you don't want to get scammed.
They include:
- Know the Investment risks
- Cost to purchase, ongoing cost
- Liquidity of investment
- Surrender charges
- Suitability of investor
- Investment regulation
- Leave, if can't get answers
http://online.wsj.com/article/SB124269210323932723.html
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© 2008 Michael Hepner Hani Sarji The Personal Finance Lifeline Blog
