One of the fastest-growing cyberfrauds is the closing payment scam — the theft of home-purchase money wired for closings. How does this scam work? How can you protect yourself? How can you recover losses if you are a victim of this scam? Closing Payment Scam In this scam, the fraudsters hack the email account of…
Continue reading ›There are numerous hidden fees that you should be looking for in employer retirement accounts like 401(k). This piece by John Wasik tells you about some of the biggies — surrender fees, back-end loads, front-end loads, and 12b-1 fees, which are marketing and distribution fees that you should not be paying. Paying 12b-1 fees for…
Continue reading ›When federal government employees recommend an investment adviser who steals employee retirement funds, “sovereign immunity” prevents recovery against the government. In many ways, the retirement savings of federal employees are safer than employees of private companies. The Thrift Savings Plan and other 401(k)-like plans offered by the federal government have fewer of the inappropriate investment…
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