Although we all have dreams about the "perfect life," the reality
is that most of us go through periods of unexpected change at some point.
Getting married, getting divorced, losing a loved one, or changing / losing
careers all affect our personal lives and our financial futures. A recent
NASAA program focused on empowering female investors emphasizes that women
need to be financially aware and prepared for unexpected money challenges.
And we agree.
Women often find themselves suddenly in charge of the finances after a
divorce or death, and it can be a confusing. Unfortunately, fraudsters
prey upon women who are going through transitional periods, and will take
advantage of your emotional situation as much as they take advantage of
your financial situation. Even "good" changes, such as a new
job, can sour if you're not armed with the information you need to
make good decisions and
avoid investment fraud.
The Statistics Are Eye-Opening:
- 99% of women will take financial responsibility for themselves or their families
- 40% of households have female breadwinners
- 2/3 of women (40-79) have experienced a major financial transition
- Fewer than 50% of women have a retirement plan
How Can Women Avoid Investment Fraud?
Women can avoid investment scams by following a few simple guidelines:
- Always do your research.
- Meet in person.
- Check up on your broker.
- Pay attention to account statements.
- Be wary of claims of high returns with little risk.
- Get it all in writing.
- Don't let them pressure you.
If you have any trouble obtaining documentation or feel uncomfortable after
meeting in person, trust your gut. Fraudsters
make it their business to be charming and convincing, but it only takes a little work on your end to make sure they are what
they seem. Unfortunately, some investment scams are so elegant that you
could be taken in no matter how careful you are. If you are the victim
of a Ponzi scheme or other type of investment scam, contact an experienced
investment fraud attorney today to discuss your recovery options. We have
recovered millions of dollars in losses for our clients through FINRA
arbitration, mediation, and litigation.