Don’t be duped by the Bernie Madoff’s of the world

Even astute and seasoned investors can be led astray by the likes of Bernie Madoff.  If you study influence tactics used by con artists, you’ll find that even the most skeptical investor can be duped.   

Read about influence tactics in my new book, “The AARP Retirement Survival Guide:  How to Make Smart Financial Decisions in Good Times & Bad,” (Sterling Publishers, list price $14.95), coming to your local bookstore on August 4, 2009. 

Be the first to order the book at Amazon.com.

Or, buy the book at a discount ($10. 76) online at Barnes & Noble.  Click here to order at a discount.

Before you sign up for a managed account, buy a bigger mailbox

People don’t realize that brokerage firms that sell managed accounts are selling a mailbox full of confirmations.

Do you like your managed account?

Managed accounts are offered as a way to get professional money management services from a money manager whose minimum you cannot meet.   If you have a managed account, what do you like about it?  What don’t you like?

Have you modified your mortgage?

If you were successful in modifying your mortgage under the Administration’s Homeowner Affordability and Stability Plan, I want to hear from you.  Your story may be chosen for an upcoming column.

Are you a closed-end fund investor?

Talk to me if you have experience buying closed-end funds for income.

Problem Paying Your Mortgage?

If you have not paid your mortgage or you are not current because you have lost your job, you can call your mortgage servicer or a housing counselor for help, according to Bruce Dorpalen, director of Housing Counseling for ACORN Housing.

You can find a list of HUD-approved counselors at www.hud.gov, the Web site for the Department of Housing and Urban Development. ACORN is a HUD-approved housing counseling agency.

Roberta Palmer, the foreclosure mediation program manager for the judicial court opeations unit in Connecicut, recommends that Connecticut residents also reach out to the Connecticut Housing Finance Authority. The Web site is www.chfa.org; the hot line is 1-(877)571-2432.