Intro

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.

Episode 3163:

J.L. Collins lays out a sharp and eye-opening warning about the seductive nature of financial scams and the psychological tricks that make them so effective, even on smart, well-intentioned people. Through personal stories and timeless lessons, he reminds us why skepticism and simplicity are our best defense against losing money to con artists in suits.

Read along with the original article(s) here: https://jlcollinsnh.com/2012/03/09/you-too-can-be-conned/

Quotes to ponder:

"People don’t fall for scams because they’re stupid. They fall for scams because they’re human."

"You’re vulnerable to cons when you’re greedy, when you’re desperate, when you think you know more than you do."

"The most dangerous person in your financial life is the slick guy in the expensive suit promising you high returns with low risk."

Episode references:

The Richest Man in Babylon: https://www.amazon.com/Richest-Man-Babylon-George-Clason/dp/0451205367

Ponzi Scheme - Investopedia: https://www.investopedia.com/terms/p/ponzischeme.asp

The Millionaire Next Door: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

Learn more about your ad choices. Visit megaphone.fm/adchoices