Look before you leap

February 6, 2018

Protect yourself from investment scams

There is no such thing as a “free” lunch. This observation describes one of the “red flag” fraud scenarios listed in the 2018 edition of the Texas Investor Guide.

Published by the Texas Securities Board, The Texas Investor Guide should be a resource you check before you decide to pull money from any existing retirement accounts you may have to finance a new investment.

The Texas State Securities Board reports that thousands of Texans lose money in investment scams every year. In addition to helping protect you from such scams, the Texas Investor Guide can help you become a more educated investor. For example, the guide explains that a skilled salesperson can make an investment scheme sound like a winner. However, when you start asking questions, the answers don’t provide many details about how the venture actually works. Make sure you completely understand how an investment will make you money before you plunk down the cash.

To receive the Texas Investor Guide, email Robert Elder, Communications & Investor Education Coordinator, at relder@ssb.texas.gov. Please provide a mailing address and the number of copies you would like to receive.