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Talking Real Money - Investing Talk

Too Smart to Scam?

Talking Real Money - Investing Talk

Don McDonald

Education, Business, Investing, How To

4.5811 Ratings

🗓️ 21 February 2023

⏱️ 35 minutes

🧾️ Download transcript

Summary

In this episode we explore our propensity to fall for financial lies, both big and small. Even the most sophisticated can get taken in by a slick con artist or a smooth broker. Then, we wade into a bunch of great calls: How do school districts pick their 403b investments and how can they be changed? Does it make sense to move a 401k into an IRA as a salepeson is advising? Why did a fund that lost money in 2022 post a taxable capital gain? Would Vanguard's 529 plan be better than a state f...

Transcript

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0:00.0

Reality Radio for a really great future.

0:08.0

We're talking real money.

0:10.1

All right, so I can get right to the meat of the matter.

0:14.4

Let me give you the phone number.

0:17.4

Are you ready?

0:18.5

Here's our phone number.

0:19.9

You can call us and you need to call us really today's topic

0:24.3

just another example of why you need to call us all right call us let me say it again call us at

0:33.2

8555-935-935 talk 82525-8-25-8-25-5 to talk about money.

0:39.2

And today, the money issue we're going to talk about is those incredibly high returns

0:46.4

that you can't possibly say no to, like 5% per week for a commodities deal.

0:56.2

Uh-huh, uh-huh.

0:57.2

Or, or a religious couple who promised investors an 800% return in just one week, ladies and gentlemen.

1:10.0

Now, who in their right mind could turn down a deal like that?

1:14.8

Well, hopefully everybody in their right mind.

1:18.7

And the real question is, is why do people fall for this stuff, Tom?

1:24.7

Yeah, and why do they fall for it?

1:26.5

Well, they fall for it because their friends

1:28.3

suggest they do it. They fall for it because it's so incredibly profitable. $1,400 is going to be

1:35.9

$11,200 in a mere few days. You know, they also fall for it because they want to believe.

1:43.4

They want to believe the people that are spreading this message. They want to want to believe. They want to believe the people

1:44.9

that are spreading this message. They want to believe their friends. They want to believe that,

...

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