How Smart People Get Financially Catfished (with Nev Schulman)
The Stacking Benjamins Show
Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP
4.4 • 2K Ratings
🗓️ 13 December 2021
⏱️ 59 minutes
🧾️ Download transcript
Summary
"Hi there, I'm just calling to let you know that the extended warranty on your car...blah, blah, blah..." There are thousands of very real and sophisticated scams that rope people in every day. Nev Schulman is all too familiar with catfishing, experiencing it firsthand when he thought he was talking to a woman online but realized she wasn't who she said she was when they met in person. Now, he's partnered with Zelle to help others avoid financial scams. Today he shares red flags and helpful tips when dealing with financial transactions online.
In our headline, we're talking about gold and silver under the mattress and how it turned into big trouble for one couple to the tune of a $300k IRS penalty. It turns out, storing gold and silver in your house is a no-no in this situation and we break down why, exactly what happened, and how you can avoid making similar costly mistakes. We'll also help Rina, who has a question about fees within mutual funds.
Enjoy!
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Transcript
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| 0:00.0 | It's Monday, OG, and you know what that means? |
| 0:02.7 | It's time to party? |
| 0:04.4 | It is time to party. |
| 0:05.5 | Time to drink coffee. |
| 0:06.5 | It's actually time to party with the troops. |
| 0:10.0 | Almost my birthday. |
| 0:10.8 | Because we had the Army-Navy game on this last weekend. |
| 0:16.3 | And you know, it was a big game, but way to go. |
| 0:19.5 | It's obviously the Navy. |
| 0:20.8 | But even if you're feeling down, on behalf of Navy Federal Credit Union, a big shout |
| 0:26.0 | out to the men and women in our armed forces. |
| 0:29.0 | Let's all go stacks and bedstamins together, shall we? |
| 0:33.4 | Easy for you to say. |
| 0:36.2 | Where's the Kaboom? |
| 0:37.9 | There was supposed to be an earth-shattering kaboom. |
| 0:46.0 | Live from Joe's mom's basement at the Stacking Benjamin show. |
| 0:51.4 | Oh! |
| 0:52.9 | No! |
| 0:53.3 | Oh! Oh! Stacking Benjamin's show. |
| 1:03.8 | I'm Joe's mom's neighbor, Doug, and have you ever been catfished? |
| 1:10.7 | These days, that means when some lovely lady or lad on a social media app wins your heart with their texts has you send them your |
| 1:12.5 | deepest most embarrassing playlists and then turns out to be some drifter in Minnesota asking |
... |
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