Eddie Alexandra recently pled guilty to a Ponzi scheme involving cryptocurrencies and foreign currencies. People feel as if there's got to be something out there, some secret sauce to jumpstart, to get ahead, to be rich quick. They just buy into the scam because they want to believe that they can do this quickly. The fewer people who report them, the more these scams go on for a long time before fraudsters are caught.
Michelle Singletary is a best-selling author and Loeb Award-winning writer. She also pens “The Color of Money,” a nationally syndicated personal finance column which appears in The Washington Post. Robert Brokamp caught up with Singletary to discuss: - Why people fall for Ponzi schemes - If you should pay off your mortgage before retirement - Why we often lie about spending habits
Host: Robert Brokamp Guest: Michelle Singletary Producer: Ricky Mulvey Engineers: Rick Engdahl, Annie Franks
Learn more about your ad choices. Visit megaphone.fm/adchoices