3163: You, Too, Can Be Conned by JL Collins on Financial and Money Advice

Optimal Finance Daily - Financial Independence and Money Advice

Content provided by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Optimal Living Daily LLC and Optimal Living Daily | Diania Merriam or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

4d ago 13:02

MP3•Episode home

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

3169 episodes