Another episode on self-serving advice that is so frequently dished out by brokers and advisors. How do you know who to trust? We begin with the Woodbridge Group and how Jordan Goodman (who calls himself “America’s Money Answer Man”) persuaded countless people to invest in what turned out to be a Ponzi scheme. Being a discerning investor is more important than ever, and you might need to ask yourself to what extent an advisor can benefit from you
Don’s part in the New York Times article on Jordan Goodman
How annuities figure in net worth.
The importance of being a discerning listener.
How to differentiate between good and bad motives.
The problem with variable annuities.
The importance of knowing how your advisor gets paid and how much.
Talking Real Money Twitter — https://twitter.com/talkrealmoney
Financial Fysics on Amazon – https://www.amazon.com/Financial-Fysics-Money-Investing-Really/dp/1453898557
Vestory — https://vestory.com/
The Fall of ‘America’s Money Answers Man’ article — https://www.nytimes.com/2019/03/01/your-money/money-answers-man-jordan-goodman.html
Ron Lieber on Twitter — https://twitter.com/ronlieber
Jordan Goodman — https://www.moneyanswers.com/
Jordan Goodman on Twitter — https://twitter.com/GoodmanJord
Woodbridge scheme — https://www.law.com/dailybusinessreview/2019/01/28/woodbridge-group-slapped-with-1-billion-penalty-for-ponzi-scheme/
Ponzi Scheme — https://www.investopedia.com/terms/p/ponzischeme.asp
Charles Ponzi — https://www.biography.com/people/charles-ponzi-20650909
Mike Rosen on LinkedIn — https://www.linkedin.com/in/mike-rosen-117a871b
KOA News Radio — https://koanewsradio.iheart.com/
Morgan Stanley — https://www.morganstanley.com/
Edward Jones — https://www.edwardjones.com/
The Bob Newhart Show — https://www.imdb.com/title/tt0068049/
Forbes Magazine — https://www.forbesmagazine.com/