8 Red Flags You're About to Get Scammed
Stay Wealthy Retirement Podcast
Taylor Schulte, CFP®
4.7 • 677 Ratings
🗓️ 16 October 2025
⏱️ 19 minutes
🧾️ Download transcript
Summary
Americans lost a record $16 billion to scams in 2024—nearly 40% from investment fraud alone.
The trend is moving in the wrong direction.
In this episode, I share the story of a small-town financial advisor who built trust over decades, until that trust unraveled into one of the most devastating scams they'd ever seen.
More importantly, I break down 8 red flags that experts say could indicate you're being conned.
Because here's the truth: falling for a scam doesn't mean you're careless or foolish—it means you're human.
And understanding the psychology behind deception is the best way to protect yourself.
If you think you're immune, that confidence might be exactly what scammers are counting on.
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EPISODE RESOURCES:
Transcript
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| 0:00.0 | Three years ago, I shared the story of my late grandfather falling victim to the infamous |
| 0:04.1 | grandparent scam. In 2023, I highlighted a telemarketing scheme that's still operating today, |
| 0:10.3 | one where real people raise money for real charities, but only a small percentage of the donations |
| 0:15.4 | go to the actual cause. Most of it ends up in the pockets of the organization's executives. |
| 0:21.9 | And then last year, I told the story of a couple who, while in the pockets of the organization's executives. And then last year, |
| 0:27.1 | I told the story of a couple who, while in the process of interviewing our firm, lost nearly $2 million, almost their entire nest egg, to an online investment scam. Unfortunately, these |
| 0:33.3 | stories are not slowing down. In fact, in 2024 alone, Americans lost a record $16 billion to |
| 0:39.8 | scams with investment scams accounting for nearly 40% of those losses. The trend is moving |
| 0:46.1 | in the wrong direction. So today, in an effort to continue doing my part to help protect the |
| 0:50.5 | stay wealthy community, I'm sharing a recent story passed along by one of our |
| 0:54.7 | amazing clients, Pam from Chicago. Hey, Pam, along with it, I'll walk through eight warning |
| 1:00.3 | signs that could indicate you're being conned. Whether you're worried about yourself or someone |
| 1:04.9 | you love, these insights could help you spot red flags early and avoid becoming another statistic |
| 1:10.6 | in this growing multi-billion dollar |
| 1:13.1 | criminal industry. Welcome to another episode of the Stay Wealthy Retirement Show. I'm your host Taylor |
| 1:18.7 | Schulte and every week I tackle the most important financial topics to help you stay wealthy |
| 1:23.9 | in retirement. And now on to the episode. When everyone knows everyone and |
| 1:32.1 | reputations are built over generations, it's easy to believe that your neighbor would never |
| 1:37.2 | betray you. That's exactly what happened in Hamilton, New York, a small, charming college town of |
| 1:42.5 | about 6,400 people near Colgate University. |
| 1:46.1 | And for decades, Miles Burt Marshall was the go-to financial guy in town. He prepared taxes, |
| 1:52.3 | he sold insurance, and beginning in the 1980s, he started accepting investment dollars from |
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