Ever think, “If I just followed the playbook of the ultra-wealthy, I’d be set for life”? Turns out, that’s exactly the kind of thinking that can lead you straight into the arms of a scammer. In this episode, Joe Saul-Sehy and OG break down the traps hidden inside the “invest like the 1%” mantra (and other similar phrases), complete with real-life cautionary tales, including a small-town Ponzi scheme that could’ve been ripped from a Netflix docuseries, and the spectacular belly flop of some YieldStreet real estate bets.
But it’s not all doom and gloom in the basement. You’ll also get the scoop on a controversial proposal to let private equity sneak into your 401(k), practical tips for spotting shady pitches before they drain your wallet, and the reminder that a boring-but-solid financial plan beats a flashy scam every time. Plus, the guys field a listener question on long-term care insurance and unpack the often-overlooked basics of HSAs.
Between headlines, trivia detours, and a dash of movie talk, this episode arms you with the street smarts to dodge the next “too good to be true” investment opportunity. It’s a masterclass in protecting your money—without having to hide it under your mattress.
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The psychological tricks scammers use to lure in even savvy investors
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Why “invest like the 1%” can backfire for everyday Stackers
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How to evaluate alternative investments (and when to walk away)
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The risks and realities of adding private equity to retirement accounts
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Key questions to ask before buying long-term care insurance
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Why a strong, clear financial plan is your best defense against cons
Questions to Ponder During Today's Show:
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Have you ever been tempted by an investment pitch that felt “exclusive”?
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Would you want private equity options inside your 401(k)? Why or why not?
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How do you decide whether an alternative investment is worth the risk?
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What’s your personal “red flag” that makes you walk away from a deal?
FULL SHOW NOTES: https://stackingbenjamins.com/how-to-avoid-common-rip-offs-1726
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201
Enjoy!
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