You’ve heard the saying that there’s “no such thing as a free lunch”?
That’s especially true when it concerns your hard-earned money.
Financial regulators say free lunches can pressure seniors into making “unsuitable, even fraudulent investments.”
Financial and insurance companies, brokers, and other salespeople use free lunches to lure older Americans into high-pressure investment pitches. Afterward, older investors may feel obligated to buy something in return, which could be a very expensive mistake.
Attending these free lunches can be hazardous to your financial health and make you a sitting duck for fraud.
The proof? According to securities regulators, “3 times as many investment fraud victims went to a free seminar as the general population.”
Those odds are definitely not in your favor!