Too Good to be True

Oct 17th, 2008 | By Dr Jerry D Elrod | Category: Senior Moments Blog

If itĀ seems “too good to be true, it probably is!” All rules for economic survival in retirement include this well worn adage. But still there are stories of persons who took the bait and swallowed the hook and lost.

There are enough con and scam artists to keep you busy answering the phone, responding to “once in a lifetime” offers, all of which promise gold at the end of their imaginary rainbow.

Years ago, a “friend” invited me to join him for an evening at a local motel where a group of flim flam men were promoting some pyramid scheme. The principal speaker was attired in a suit and mink (you got it) tie, waving hundred dollar bills and touting the ease of being able, with their program, to “get rich quick.” I sat on the very back row and watched the circus unfold. Pressure, promises, and philandering won the day for some there, including my friend. He lost big time.

It is very easy to find ways to lose or badly invest ones funds. The latest situation in the “legitimate” financial world have reminded us again of the reality of risk.

For those who are gullible and easily influenced, there is a strong need to put into effect a means for turning a deaf ear on those whose slick and slimy methods can catch you in their net before you know it.

Having a strong will to say no to telephone solicitors, refusing any door to door callers, trashing all bulk mail invitations, flipping the remote to run away from that beguiling “call now” offer, which repeats the number three or more times, all are disciplines well worth developing and feeling appropriately okay about. One need not be rude, just blunt. So protect yourself, your peace and quiet, your sense of security, by just saying NO THANK YOU! Be prepared for a comeback. Yours is to hang up, close the door, toss the mail, refuse the intrusions however they present themselves.

By the way, if you aren’t on the NO CALL LIST, get on it as soon as possible. If you get lots of emails or snail mail solicitations, start blocking them or refusing them. If you are subject to believe everything you see on television or in the newspaper, maybe you need some objective help to be sure you ward off the temptations to respond.

Your retirement and nest egg have been earned at great outlay of energy and thought. Don’t toss it away on one sudden “I know I can win the lottery” impulse. You will likely walk away having learned a very painful and costly lesson.



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