Page 102 - Speedhorse February

FINANCIAL PLANNING
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The information presented in this newsletter is the opinion of Peterson Wealth and does not reflect the view of any other person or entity. The information provided is believed to be from reliable sources but no liability is accepted for any inaccuracies. This is for information purposes and should not be construed as an investment recommendation. Past performance is no guarantee of future performance. Peterson Wealth is an investment adviser registered with the U.S. Securities and Exchange Commission.
by Cade Peterson, Senior Financial Advisor, Peterson Wealth Services
A
FINANCIAL SCAMS STORIES AND TIPS
s technology has advanced, so have
STORIES/EXAMPLES
STORY – My amazing wife is a bargain shopper and is always looking for a good deal, which is something I am thankful for. However, there was an instance a few months ago that turned south. She was looking for
a patio set for our backyard. She had been looking for months before she found the one she wanted on Facebook Marketplace. She had been messaging the person for a few days and they even offered to drop off the patio set at our house for an additional $50 drive fee. With a newborn baby, I told her that would be fine. We paid a $200 deposit and pretty soon, they were asking for the full amount because they had other people wanting the set. After that, we knew we had made a mistake. The messages deleted and the $200 deposit ceased to exist.
LESSON – Arrange to look at the item you are planning to purchase before you give any sort of deposit. Also, it would be a good idea to check the Facebook profile to see if the person has a reasonable number of Facebook friends, posts, a profile picture, etc.
STORY – In 2024, we had a client
reach out to us to take some money from
his investment accounts. We always ask
the reason for pulling the funds from the account. While that may seem nosy, it is for the good of the client to make sure there is not any sort of fraudulent behavior going on behind the scenes. In this particular case, the client said he wanted a large amount of money to invest in “gold futures” because he was promised an amazing return and
he did not want to pass it up. We told him
scams and fraudulent behavior. It is an unfortunate practice that targets older folks
in particular. According to the Federal Trade Commission, there were 2.6 million fraud reports in 2023. Between the numerous different types of fraud, $10 billion was reported lost. The number of older Americans who report losing more than $100,000 to fraud in a given year has more than tripled since 2020. It is pretty sad to know that people are falling victim to different forms of fraud each day, getting deceived out of their hard-earned money. In an effort to save just one person from falling victim to these tricksters, I wrote the following...
“According to the Federal Trade Commission, there were 2.6 million fraud reports in 2023. Between the numerous different types of fraud, $10 billion was reported lost.”
100 SPEEDHORSE February 2025