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Rant: I almost lost a $15,000 chunk of my emergency fund to a 'high-yield' scam
This was about eight months ago, I was sitting at my kitchen table in Phoenix looking at an email that promised a 12% return in six months. The site looked legit, like a real investment firm. I had just finished a big flooring job and had that money sitting in my savings, and I thought, why not make it work a little harder? I was literally one click away from transferring the funds. What stopped me was a tiny note buried in their terms saying my principal wasn't guaranteed, which made me pause and do a real deep dive. I found a state regulator website listing them as an unregistered entity. My heart just dropped. If I hadn't taken that extra hour to check, that money would have been gone. It was a huge wake-up call about chasing returns without doing the homework. Has anyone else had a close call like this with an online investment offer?
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blair5067mo ago
Glad you caught it, but 12% should always set off alarm bells immediately.
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susanr157mo ago
Right? It's one of those numbers that just looks wrong as soon as you see it. Makes you wonder what else slipped through the checks. A mistake that big usually points to a bigger problem with the process, not just a typo. They really need to fix whatever let that happen.
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morgan.cameron6mo ago
My own bank statement would probably give you a heart attack then. I once missed an extra zero for months because I just assumed I was that bad with money. Guess some of us are the reason those checks need to exist.
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