Don't Fall For It! Scammers & Elder Abuse 101

Think you could spot a financial scam before it’s too late? In this episode, Austin, Josh, and Jordan break down the most common scams targeting retirees and families today, from fake IRS calls to AI-powered imposter scams. You’ll hear real examples, why older adults are being targeted more than ever, and simple steps you can take to protect yourself and the people you care about most. Tune in!

For the video version, transcript, and show notes, visit thewealthmindsetshow.com/s2e26 

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Chapters

• 0:57 Life Updates: Jordan's Real Life Plumbing Scam
• 2:50 Popular Scams We've Come Across
• 4:28 IRS & Government Impersonator Scams
• 6:10 Debt Collection & Mortgage Scams
• 8:54 Tech Support & Popup Scams
• 9:18 Package Can’t Be Delivered & UPS Scam
• 9:50 Family/Relative Imposter Scams
• 11:27 Relationship & Romance Scams
• 14:55 How to Protect Yourself or Loved Ones from Scammers
• 20:28 Red Flags to Spot Quickly

Transcript

You're listening to the Wealth Mindset Show, where Hixon Zuercher Capital Management's team of finance professionals, portfolio managers, and a life coach come together to tackle complex topics in finance and retirement planning so you don't have to.

From investment strategies and wealth management to tax planning, retirement income, and aligning your money with your values and purpose, the Wealth Mindset Show offers the tools to thrive.

Austin Wilson:

All right. Hey, hey, hey, welcome back to Wealth Mindset Show, where the Hixon Zuercher team helps you manage wealth, navigate retirement, and make smart decisions for a secure, meaningful future. I'm Austin Wilson, director of investments at Hixon Zuercher Capital Management.

Josh Robb:

I'm Josh Robb, Director of Wealth Management at Hixon Zuercher Capital Management. And joining us today-

Austin Wilson:

Joining us.

Josh Robb:

... is Jordan Shaw. He is a advisor at our firm, and we are going to be talking about scams, elder abuse, all the crazy stuff that happens in this world-

Austin Wilson:

It's crazy.

Josh Robb:

... and what we can do to help prevent it and just be aware of it.

[0:57] - Life Updates: Jordan's Real Life Plumbing Scams

Austin Wilson:

True. But first of all, what's going on in your life? Jordan, give us the update.

Jordan Shaw:

Yeah. Well, speaking of scams, the plumbing situation at my home is barely better than it was. Last time I was on this podcast, actually, I gave an update, and I thought, maybe shortly after, it was getting resolved.

Austin Wilson:

I would say, "It's ongoing," but it's kind of plugged up.

Jordan Shaw:

Nice. Yeah. Trust me, I've drained all the jokes out of this that I could ...

Josh Robb:

There it is. See? Another one.

Jordan Shaw:

You got it. We're hoping to get it wrapped up, hopefully. But this whole thing about scamming, it's not just financial. There's services provided that can be scams as well.

Austin Wilson:

Yeah, true.

Jordan Shaw:

Yeah. As the recipient of that, it's not fun.

Josh Robb:

Nope.

Austin Wilson:

Yeah.

Josh Robb:

No. And that's what we'll talk a lot about, but obviously we're right in the middle of the fun holiday season, so, just busy. That's how life is. All the different shows and events and parties and all that stuff. And just spending time with your family is important.

Austin Wilson:

It's also ice-cold.

Josh Robb:

It is freezing.

Austin Wilson:

I woke up, it was four degrees. And then by the time I got moving around a little bit more, it was up to six.

Josh Robb:

Okay.

Jordan Shaw:

Nice.

Josh Robb:

And that's what's in your house.

Austin Wilson:

And when I left ... Yeah, that's right. I got to keep-

Josh Robb:

You got to turn the thermostat up.

Austin Wilson:

Nope. Nope. I am cheap. I'm keeping the thermostat down. Then by the time I left, it was 11.

Jordan Shaw:

Double digits.

Josh Robb:

We're there.

Austin Wilson:

We're in the winter, and Jordan, coming to Ohio, you've actually had some winters since you've moved here.

Jordan Shaw:

Yeah, thankfully. That's what I was looking for.

Austin Wilson:

Almost like you're-

Josh Robb:

You were missing out on it.

Austin Wilson:

... back in PA.

Jordan Shaw:

Yeah. Yeah. Last year there wasn't much, so I'm glad we're getting some snow.

Austin Wilson:

You didn't think that was much. That was the most impressive winter we've had in one-

Josh Robb:

Scraped off my windshields.

Jordan Shaw:

It was cold, actually. That's true. That's true.

Austin Wilson:

It was.

Josh Robb:

We did get cold, just not a lot of snow.

Jordan Shaw:

It was cold. A lot of snow.

Austin Wilson:

So, scamming people, this is something we're all passionate about. Not doing it!

Josh Robb:

- You're passionate...

Austin Wilson:

But teaching people about ... So yeah, we're talking about financial scams, elder abuse. Scammers, especially today, super sneaky, very persuasive. And I feel like there's a new angle-

Josh Robb:

With technology?

Austin Wilson:

... on some sort of scam all the time, right?

Josh Robb:

Yep. Yeah.

[2:50] - Weird Stories & Common Scams to Watch Out For

Austin Wilson:

So we're going to talk about a lot about that. But yeah, any weird stories of an email that you almost clicked on or a text to call, whatever. Anything that comes to mind?

Josh Robb:

I mean, we're going to get into it when we talk to some of the stuff. But, to me, the big one is the ability to use AI now. So, they can mimic sounding like people, which is just crazy to me. And it's like, you get a phone call and be like, "Hey, I'm so and-so," who you know, and they're recorded, and it sounds just like them. And they ask you for stuff. And that's just crazy.

Jordan Shaw:

It is crazy. Yeah. One of the newer ones more recently that my wife and I have both received texts saying that the BMV, the motor vehicle, like, we owe some unpaid ticket or something like that. And it's like, that one's strange. I don't know. I haven't gotten that one before.

Josh Robb:

The other one was, for me, is the toll roads.

Austin Wilson:

Yeah, I've had that too.

Josh Robb:

A lot of the toll roads have gone to these automated, you pre-pay-

Austin Wilson:

They'll mail you.

Josh Robb:

... and all that stuff. Or you just drive through, they check your license plate, and then ... So you get those, you're like, "Oh man." For me, I had driven on the toll road recently, and it was like, "Oh, maybe I do owe that, but I'm not clicking on that link. I'm going to log in." And that's the key. We'll talk about that. But yeah, that's the one that almost took me a minute because I'm like, "Well, could be legitimate. I don't think it is, but yeah." Those are the interesting ones.

Austin Wilson:

I have found, and we're going to talk about this a little bit, but yeah, if it's mail, it has a better chance of being legit because texts and phone calls and emails, not the way the government prefers to get ahold of you.

Josh Robb:

No.

Austin Wilson:

So we're going to talk about that.

Josh Robb:

In fact, certain government groups will not do anything but mail.

[4:28] - IRS & Government Impersonator Scams

Austin Wilson:

Absolutely. Absolutely. And I think that that's a big red flag. So here are some common scams to watch out for. IRS. Internal revenue service, right? The tax guys.

Josh Robb:

Yes. No one wants to have them coming after them.

Austin Wilson:

No one wants to have them coming after them. But a lot of times there's IRS or government impersonators, they can make up ... They'll do mostly phone calls, is how this comes up. And they'll say, "Oh my goodness, you owe your taxes or your benefits are going to stop." So, a couple thoughts. Number one, the IRS doesn't do that.

Josh Robb:

Nope. They don't call anybody.

Austin Wilson:

They don't call. So do not pay anything without verifying. And you can call the IRS.

Josh Robb:

Yes.

Austin Wilson:

That's a great way to verify. They're not going to call you.

Josh Robb:

Hang up-

Austin Wilson:

Correct.

Josh Robb:

... look up the number and call that number.

Austin Wilson:

But this brings up a technology that's being used, and that's caller ID spoofing. So, just like we can go email spoofing, that's a real thing. I don't know if we've talked about that, but it's a thing where, essentially, you can make your email, when you send it, look like any email address; it came from anywhere. But then when you go into the details and hover over it, you'll actually see the email it came from, but it might not look like it.

Josh Robb:

You can hide it and make it harder. Yes.

Austin Wilson:

They can do the same thing with caller ID and make it look like it's coming from one number when it's actually coming from another, and that is no bueno. So, that's one popular example. And why is that targeting, perhaps, older people?

Josh Robb:

Well, because, well, again, there is a-

Austin Wilson:

Because benefits. Government benefits.

Josh Robb:

Government benefits... There's a fear of missing or losing something, and the headache of trying to get it back. And so they're playing on that fear because the bureaucracy of the federal government means if it is true and I lose my benefit, it could be months before I navigate the steps and forms and everything I need to do to get that back. And I don't want to lose that.

So, you're right, they're playing off the fear of losing something or on the fear of, "Oh no, I don't want the federal government coming after me because I made a mistake and going off of that."

[6:10] - Debt Collection & Mortgage Scams

Austin Wilson:

Another one is debt collection, mortgage scams.

Josh Robb:

And going back to the IRS, a lot of times they want you to pay them in Bitcoin because it is untraceable, and are, for the most part, harder to trace.

Austin Wilson:

Another red flag.

Josh Robb:

The government's not going to ask for Bitcoin or gift cards or anything like that. They can garnish wages. They'll get their money. So if they're asking for any form of payment that sounds weird, it's probably a scam.

Austin Wilson:

Well, that's the same across the board.

Josh Robb:

Yeah, through all these. But the government, in general, is not going to have it any other way.

Austin Wilson:

But with any of these scams, if they're asking for gift cards or crypto, and those are very common, those are the two most common, it's fake.

Josh Robb:

Yes.

Austin Wilson:

No legitimate thing is going to ask for those.

Josh Robb:

Yeah. Unless ... Like, my Christmas list has gift cards on it.

Austin Wilson:

And Bitcoin?

Josh Robb:

I'm legitimate.

Austin Wilson:

And Bitcoin?

Josh Robb:

Yeah, yeah. No, no. No. Bitcoin, but some gift cards. So, I'm legitimate. So, Mom, if you're listening-

Austin Wilson:

Bitcoin...

Josh Robb:

... I do want gift cards.

Austin Wilson:

Oh, okay.

Josh Robb:

It's not a scam, not a scam.

Austin Wilson:

Not a scam. So yes, debt collection, mortgage scams, a lot of times they'll call or email or text. There's five ways they can do this. Or even mail. They'll use mail for this as well, and saying, "Oh my goodness, you have a lawsuit outstanding," or "We're foreclosing on your car," or your home because you haven't paid. "We're going to try and garnish your wages." All these other things. Well, if you, A, watch your credit report and make sure everything's legit and up to date on that, you know that that's probably not going to be the case. There's no debt in your name that you don't know about, and you're up-to-date on everything, probably not it.

One thing that I see, and this is funny because even reputable news channels are all about mortgage fraud being this thing. It's really not as easy to do as people think. And all these title locks and all this stuff you need, probably unnecessary, right? In most cases. I'm sure there may be one or two legitimate reasons.

Josh Robb:

It's happened enough for it to exist, but it's not as rampant as it makes it sound.

Austin Wilson:

Exactly. So that's usually going to be false anyway. People can't just go steal your home equity, and you're not going to know about it. In most cases. So those are a couple other ones. Any other thoughts on those?

Jordan Shaw:

There's really a fine line too between scams and persistent marketing. There's home warranty companies that will send you stuff, and they'll also play on fear. Like, "Your warranty's about to expire. Call us and get an ..."

Josh Robb:

Your car warranty is a great example of that. I feel like everywhere I turn, there's either somewhere, something, saying, "Hey, your car warranty's going to expire." I'm like, "I don't even have one, but sure."

Austin Wilson:

Or the gas company, every month, I feel like, sends you, "Protect your gas line."

Josh Robb:

Oh, yeah. You're responsible.

Austin Wilson:

"It's on you!" And I'm like ... I actually talked to my dude at the gas company. He's like, "No, don't do that." You're really not if it's actually the fault of that. Anyway, yes, there's a good distinguish there between ...

Josh Robb:

Some are not scamming you. They're just trying to get your business, and they're a legitimate business. You may just not need that insurance or whatever offering.

[8:54] - Tech Support & Popup Scams

Austin Wilson:

Here's another one that I think might also impact the elderly population more than others, and that's tech support scams. And a lot of times this could be popups that say your computer's affected with a virus or-

Josh Robb:

Yeah, "Click here."

Austin Wilson:

"Click here."

Josh Robb:

"Connect with Microsoft."

Austin Wilson:

Oh, it's a bad idea. Don't do that, because that is going to actually get you a virus, which is usually ransomware, and then you do have to pay to get that off, or-

Josh Robb:

Or reset your whole computer and lose everything.

[9:18] - Package Can’t Be Delivered & UPS Scam

Austin Wilson:

Exactly. So not a good one there.

Anyone get a message about a package not being able to be delivered? That's another common one.

Jordan Shaw:

All the time.

Josh Robb:

Oh, it never quits. Yeah.

Austin Wilson:

Hey, it's Christmas right now.

Jordan Shaw:

This time of year, all the time.

Josh Robb:

FedEx, UPS. They're the ones delivering, but people pretend to be them and say, "Click here to redo," or "Confirm your address." And don't click on any of that.

Austin Wilson:

Don't click on it.

Jordan Shaw:

Sometimes I text my mom and tell her her package wasn't delivered to our house to see if she actually sent one.

Josh Robb:

Oh, that works. Yeah, that's a smart one.

Austin Wilson:

Yeah, that's right. Or just share an Amazon account, then you know where everything is at all times.

Jordan Shaw:

That's true.

Josh Robb:

... look at, during this time.

Austin Wilson:

I know, this time of year it's like, delete the app.

Josh Robb:

You want to be surprised?

[9:50] - Family/Relative Imposter Scams

Austin Wilson:

Delete the app. Imposter scams, that's another one. So this would be a scammer calls and-

Josh Robb:

Yeah, is this the one I talked ...

Austin Wilson:

Yeah. Pretends to be a relative or some ... Yeah, your nephew, your grandson. "Oh my goodness, Grandpa, we need help."

Josh Robb:

"I was in a car crash, and I need this."

Austin Wilson:

Yeah. They can match your voice, and they're going to say, "I just need $500 in Visa gift cards or one Bitcoin."

Josh Robb:

Yeah, stop asking for Bitcoin.

Austin Wilson:

"Or else I'm going to go to jail, I'm stuck in a Mexican prison," or, I don't know. This is probably not real, but they can match the voice of nearly anybody. And if they're asking for money or personal information, hang up and call them yourself to verify before you do it directly through whatever was sent to you. We're hoping-

Josh Robb:

And then call their parents or a relative, just say, "Hey, is this really going on?" And then you'll have ...

Jordan Shaw:

And again, it goes back to the fear, and they're hoping that you make an impulsive decision in that heightened emotional state about someone you care about. So it's really malicious. These ones, I really hate, out of all of them.

Josh Robb:

They're just mean.

Austin Wilson:

Have your grandkids tried to get ahold of you for money?

Jordan Shaw:

It's actually ... My grandmother has received these calls before, and she's called me, "Are you okay?"

Austin Wilson:

"I'm fine."

Jordan Shaw:

"I'm okay. I'm fine." But it's bad.

Josh Robb:

And it's just sad that they are targeting the elderly for this, this one in particular, and they're preying on the lack of understanding of what technology is there.

Austin Wilson:

Absolutely. Absolutely.

Josh Robb:

Because the younger generation, in general, is aware of what could be done, and they're a little more cautious, whereas the elderly generation, this wasn't a thing. Who called you on the phone was who they were. And it is what it is. So it's sad.

[11:27] - Relationship & Romance Scams

Austin Wilson:

Another category would be something like relationship scams. So, we live in the world where online social media friendships and online dating is very prevalent. I have my own opinions on that, that it's not the same or good, probably, but it gets taken way too far sometimes when you develop a ... This is, I call it "the long con," right? You could really chat with someone for days and days and months and months and build a great relationship, and you feel very comfortable with them because you online chat with them, which, you've probably never seen them, you're probably being catfished. But yeah, then all of a sudden, you're really buddy buddies, or you're in love or whatever, and they're like, "I'm in urgent need of help, and I'm in Zimbabwe, and I need 10 grand right now."

Josh Robb:

Zimbabwe.

Austin Wilson:

"Boom." That's another one.

Jordan Shaw:

It could also be somebody in person. I mean, we're talking a lot about the technology and digital side of these scams, but I mean, even before this technology, there were people who built the trust up of especially elderly people and then took advantage of them by, "Hey, let's change or update your will and include me in all this stuff." And I mean, it doesn't have to just be technology. And in our industry, watching out for people who show up in their lives and start adjusting or manipulating decisions, especially financially.

Austin Wilson:

So audit your friends, because they might be scamming you. Jordan, I'm watching you. You're my neighbor, my friend.

Jordan Shaw:

Face to face, no AI right here.

Austin Wilson:

That's right.

Jordan Shaw:

I'll be as friendly as I can. And the thing with this one too is there's complex networks. It's not just one person or one program that's being used.

Austin Wilson:

Oh, absolutely. It's a cell of people.

Jordan Shaw:

Yeah. So it can really ... And the amount of time that they can string you along-

Austin Wilson:

Oh, yeah. These are long-

Jordan Shaw:

... before they ... They dangle that carrot in front of you. It's a little scary.

Austin Wilson:

Sidebar, there's some YouTube channels of people who are so good at doing the other ... So they know the scammer, they know that someone's a scammer, and they have-

Josh Robb:

Yeah, they track them down. Look them up, and-

Austin Wilson:

They have the abilities to see them on their camera, who it is, and they can ... Oh my goodness. That's so funny to watch. When you're scamming the scammer, that's good entertainment right there.

So that is a couple categories of scams. Lots of them out there. That's not an exhaustive list by any means, but those are some of the most common ones and sad things that happen to people we care about.

Josh Robb:

Have you ever felt overwhelmed by the complexities of managing your wealth? You're not alone. At Hixon Zuercher Capital Management, we specialize in helping affluent families and individuals navigate the complex challenges of managing their finances. Wealth management is all about combining thoughtful financial planning with active investment management to help you reach your goals.

Our process is designed to guide you toward what truly matters because we believe wealth isn't the destination, it's a vehicle for something much more meaningful in your life. Achieving your dreams requires careful planning, smart decision making, and access to high-quality investments. That's where we come in. We understand that complex financial situations call for deep expertise in investing, tax strategies, and retirement planning, but our approach goes beyond that. We integrate your financial goals with your core values, helping you visualize the possibilities your wealth can create for a secure future.

If you're ready to take the next step, visit hzcapital.com/start to see if we'd fit into your needs and to schedule a call with us. Again, that's hzcapital.com/start. Now let's get back to today's episode.

[14:55] - How to Protect Yourself or Loved Ones from Scammers

Austin Wilson:

But let's talk about the practical ways that we can protect your loved ones, protect yourselves, and try and avoid making a big impact on our personal future, our family financial success, all these other things. So number one, pause and verify. So, don't do things willy-nilly. Don't do things without thinking. So what do you guys think about that as a step one?

Josh Robb:

Yeah. Like you said, just don't act on the impulse. Don't act when you're in a heightened state of emotion. That's when you could make a mistake. So say, "All right, let me check. Let me verify this with somebody, and then I'll follow up or act." And then hang up the phone, do something to help you confirm that what you're about to do is the right decision and direction.

Double check the websites or the email addresses or whatever it is that they're communicating with you, make sure that's correct because, again, they can spoof and verify, but there is technology, but most of these scammers don't have the ability to stop you from calling that number. And if you look it up online and find the actual number that you should be communicating with. So yeah, that's an important ... People, just verify who they are. Ask them questions that only they'll know. "Oh, thank you, Johnny, for calling me about your car crash-"

Austin Wilson:

Yeah, "What did you give me for Christmas last year?"

Josh Robb:

And if you're uncertain, call someone else that would also be aware of that situation.

Austin Wilson:

Another one's probably just trust your gut. If it feels off, you know what? It probably is. Hang up, delete the text, delete the email. Once a day, I report phishing or spam or whatever to Microsoft, I feel like, on my phone. Once a day, because I'm like, "Nope, nope, not trying it. Ignore it." If it's something real, the person will actually get a hold of you again.

Another one is added security. This is my compliance officer here. He is all about added layers of security.

Josh Robb:

And I always say it's okay or worth it to be a little inconvenienced if it adds that extra layer. So, two-factor authentication. And all that is is most people have a username and password when you're logging into whatever. Adding a second layer, which is usually some code-

Austin Wilson:

"Text me a code." Yeah.

Josh Robb:

... that is sent to you. Sometimes you use an app for that. Sometimes it's a text a code to your cell phone or whatever. That secondary layer makes it extremely hard if someone gets access to your password. So if they're able to, whether it's through a virus or hacking, they still can't get in until they get that second layer. So as much of a headache as those are, it's a great way of adding another barrier between your information and someone else that shouldn't have it.

Jordan Shaw:

Yep. Specifically for emails too, because email accounts, we've all had emails for 20-plus years. It's been around for long enough-

Austin Wilson:

I'm still using my first email.

Jordan Shaw:

Honestly, me too.

Austin Wilson:

It's a Yahoo.

Jordan Shaw:

High school. Yeah.

Josh Robb:

I have Yahoo still.

Jordan Shaw:

And they never required that. In fact, the multifactor authentication wasn't very big back then. So you have to make the conscious choice to get into your email, go into the security settings and add one, set it up. Because a lot of new softwares and programs, they require it now. But email's one of the biggest vulnerabilities that you have that scammers will utilize.

Austin Wilson:

And we would advocate for using a password manager. We use one here in the office. There's a lot of different options, but then it keeps all of your passwords secure, for one, and-

Josh Robb:

Don't reuse them.

Austin Wilson:

... and it tells you if your passwords are weak, if they're reused, all these other things. It'll give you grades and scores. And it's a scary thing sometimes when you're like, "I've used that for everything." I only used one. When I was young, I used one password for every single thing I had. Now, I didn't get scammed, because no one scammed people back then.

Josh Robb:

But that is the thing is because if they just get it one spot, most of these hackers, when they get a password, are going to try out all the key places that they want, just to see if you'd reused it. And so yeah, they're not necessarily going to try to get the password from the secure place, they're going to go to the easy places like an email and hope you reused that somewhere else that they want. So yeah, those are the keys there.

Austin Wilson:

Another one is just monitoring accounts.

Josh Robb:

Yeah, keep an eye on everything.

Austin Wilson:

Keep an eye on everything. Keep an eye on your email, because it'll often tell you when people log into certain things. That's one thing.

Josh Robb:

Yeah, you can look at a history.

Austin Wilson:

Look at your bank statements and your investment statements. Look for anything unusual. Look at your credit report. We have an episode from way back in the day, probably five years ago when we started the podcast, about your credit score.

Josh Robb:

Yes. We talked about free statement, and-

Austin Wilson:

Monitoring your credit report and all this other stuff. So check that out. We'll link that in the show notes. And then another one, Jordan, talk a little bit about maybe just adding someone else to help you through some of these decisions.

Jordan Shaw:

Yeah. I think this is especially important for two categories of people. People who are just so, so busy that it's hard to keep track of everything going on in their life. If they have some sort of assistant or manager that helps them with their calendar and can monitor emails and things like that, that's what you need to do. For elderly people who are more susceptible to, unfortunately, susceptible to these sorts of tricks and things, having someone else in your corner and really having an advisor who doesn't just make sure that you have enough stocks in your account or whatever it is, but looks at everything involved with your financial picture, who can say," Hey, we received this email from you. It's not a typical communication that you would send. We wanted to reach out to you directly and see how things are going. And do you have any questions with your accounts?"

And making sure, someone else that can say, "You've got protection on your accounts. They're being monitored by someone besides yourself." So that is also something that it's always good to have another set of eyes.

[20:28] - Red Flags to Spot Quickly

Austin Wilson:

Absolutely. So, a couple final red flags before we wrap up. Really simply. If it says it's urgent, it might be fake. That's the one, whatever, like, "Act now or lose all your money." Probably a red flag. Secrecy. "Don't tell anyone." Probably a red flag. We mentioned this multiple times, but strange payment methods. I mean, Josh wants gift cards, Josh wants Bitcoin, but most people aren't going to ask for that. And if they're asking-

Josh Robb:

And I'm not asking for it for payment.

Austin Wilson:

Yeah. If they're not asking for those for payment, or if you're a financial advisor, we're not asking for those for payment. Probably bad.

Josh Robb:

And wire transfers. And that's the other one we haven't talked about.

Austin Wilson:

True.

Josh Robb:

Those are direct transfers, and once they're gone, that's near impossible to get back. And so again, scammers are trying to use the way they can most easily and also most likely get that money and keep it. And so that's why they're using those type of things because they're harder to claw back.

Austin Wilson:

Yep. Another red flag is like, look at how emails or texts are handled. Odd phrases, typos, something just doesn't-

Josh Robb:

If I get something that I think is from Austin, is this how he communicates? Is he using a similar phrasing, languages, typos? Is it normal for what I would expect from Austin or not? That's kind of that sniff test on that.

Austin Wilson:

I mean, we haven't even been talking about it, but this happens in the corporate world all the time. We've gotten scam emails from-

Josh Robb:

Oh, all the time.

Austin Wilson:

... quote, unquote, I'm using air quotes on a podcast, from Tony, our CEO. It wasn't from Tony. You can check. There's five ways to check whether he sent it or not, but-

Josh Robb:

He's just down the hall.

Austin Wilson:

Just ask him.

Josh Robb:

Probably just pop his head out...

Austin Wilson:

So he doesn't ask me to send him money or a gift card or these sort of things. So, other ones are too-good-to-be-true offers. If it's too good to be true-

Josh Robb:

It probably is.

Austin Wilson:

... it probably is. So, red flag there.

But I guess, in closing, if it happens, if you're scammed, don't feel ashamed, because it happens to everyone. It happens to the smartest people in the world. Contact your bank, contact your advisor. They will do-

Josh Robb:

Contact the police.

Austin Wilson:

Yeah. Yeah. They will work with you to do as much as they can. Sometimes, unfortunately, you just are going to be out some money or whatever, but there are ways that you can often claw back some of that. If it happens on credit cards, it's very nice. That's usually a lot more covered than if it's cash.

Josh Robb:

Which is why that's not what they're asking for.

Austin Wilson:

Yeah. If it's cash or something like that, yeah, that's not the case. So that's kind of the wrap up here. Any final thoughts?

Josh Robb:

Reporting it, being open to say, "Hey, this is what happened," may help prevent others. Again, don't be ashamed. They're targeting a ton of people, and it happens more often than you think. And so, communicating that to make sure we can try to prevent it from other people happening, but also see what we could do to try to rectify that is important because, again, it's everywhere. And that's the sad truth is I wish it wasn't, but it is more frequent than we probably realized.

Austin Wilson:

Well, and it's not that it's not illegal. It is illegal, but it's so unenforceable.

Jordan Shaw:

Yeah. It's hard to catch them.

Austin Wilson:

They can't catch everyone. They might catch one in a hundred.

Josh Robb:

Yep. But still reporting it, still working through it makes sense.

Austin Wilson:

Absolutely, absolutely. Jordan?

Jordan Shaw:

And everyone will be targeted.

Josh Robb:

Yes.

Austin Wilson:

Everyone. Oh, yeah.

Jordan Shaw:

There's no one that's going to escape this. Even if you try to be as off-the-grid as possible, these scams, they will find you. So be on the lookout all the time.

Austin Wilson:

So I guess, in closing, if today's episode was helpful or helped spark some thoughts or you can share with someone, go ahead and do that. Hit that subscribe button on your podcast so that you get new episodes when they come out on Thursdays. Be sure to follow us on social media. We're pretty active on there, and we'd love to stay in touch.

And if you're ready to invest with us, head over to hzzcapital.com. We'd be happy to talk to you and maybe we could be a good fit for you and your financial situation, or you can just check out the resources we have like The Timeless Principles of Investing at thewealthmindsetshow.com. And until next episode, have a good one.

Josh Robb:

Talk to you later.

Jordan Shaw:

Bye.

Thank you for joining us at the Wealth Mindset Show, where we tackle the complexities of finance and life planning to help you align your wealth with your values. We hope today's conversation provided value and clarity as you navigate your financial journey.

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