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The Golden Fleecing

You see the ads for this kind thing on the cable channels in the wee small hours of the morning. Buy gold or silver as a hedge against bad economic times. But many of the companies touting gold or silver are really only making one entity rich: themselves.

Here’s what you need to watch out for:

  1. The Bait Frequently, these companies use deceptive marketing to make you think you’re getting gold or silver at only a slight mark-up over the current market value.
  2. The Switch Once you are actually speaking with a salesperson, they will try and switch to investing in “collectible coins.” You’re told that these are appreciating much faster than gold or silver.
  3. The Catch Often you will be sold coins at a markup so high, you will never recover what you’ve paid.

One of the oldest adages in investing is true here – invest in what you know. If you don’t know about collectible coins, don’t invest. Or seek out a local expert in your area and consult with them face-to-face.

Cyber Scam Alert

With Wi-Fi everywhere now from the public library to the corner coffee shop, there are more opportunities for cyber punks to hack into your laptop tablet or mobile phone.

Here are some tips to keep your information safe when using public Wi-Fi:

1.) Don’t set your devices to automatically connect to pubic Wi-Fi

2.) Never access your bank accounts, credit card accounts or even your email while on public Wi-Fi

3.) Stick to your call phone’s providers Wi-Fi network if you’re accessing an online shopping website or any other site that requires personal information

4.) Check website addresses carefully and completely. Scam artists will create bogus sites that closely mimic real ones

Tech Support Calling? Don't Answer!

Authorities warn that today’s biggest scam is the supposed call from “Tech support.” Fraudsters are racking up nearly $460 every 10 seconds for a yearly haul of $1.5 billion.

Here’s how the scam works.

You get a call from somebody claiming to be from “Microsoft,” “Windows” (a giveaway as Windows is the name of the operating system, not the company) or an anti-virus software company such as Norton or Symantec. The caller claims that software on your computer is sending them messages that you have very dangerous viruses on your computer. They can remove the viruses if you give them remote access to your computer.

What that remote access will really do is give the scam artists access to all your vital information, account numbers and passwords.

Here’s what you need to know:

1.) Companies like Microsoft and Symantec will never call you out of the blue. They just don’t.

2.) Anti-virus software is designed to catch and remove viruses all by themselves. There is no anti-virus software that alerts the home office and then requires a live tech support person to remove it.

Don’t fall for the scam. Either hang up or do what we do. Ask the caller if they think their mothers would be proud of how they’re spending their days as a thief who hides their true identity and tries to rip off old ladies.

Money-Saving Tip: Buy Like a Man!

This week’s tip applies more to females.

When shopping for some personal care products, check out the versions that are marketed “for men.” Things like razors, shampoo and conditioner are actually priced higher when marketed to women, although their ingredients and/or technical specifications may be identical to the ones marketed to men!

 

 

 

Avoid These Vacation Time Scams

Have you received a phone call, text or email promising you a cruise or vacation getaway that sounds too good to be true?

Beware, it probably is.

If you receive an invite for a resort stay, airline tickets or other vacation come on via email, do not click on the link. Often times all you’ll get is malware. Or you may have to endure really hard-sell presentations for pricey travel and vacation clubs. And we don’t need to tell you never fall for any “free” offer that requires you to give up credit card numbers or personal information.

The Beatles had 7 consecutive #1 albums. Two other bands had 8. Name them.

Led Zeppelin & ABBA
O'RyanCordes Marketing