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المحتوى المقدم من A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
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70 year old man denies being romance scammed, son doesn't know what to do (#359)

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المحتوى المقدم من A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

In this episode, A.B. Ridgeway dives into the story of a 75-year-old man who fell victim to a romance scam, losing his life savings of $150,000. His son shares the heartbreaking journey of trying to intervene and the psychological challenges his father faces. Despite numerous warnings, the man continued to believe in the scam due to the powerful grip of the "sunken cost fallacy." This episode sheds light on the dangers of financial scams, the emotional toll of loneliness, and how scammers prey on vulnerable individuals.

Key Takeaways:

  1. Sunken Cost Fallacy: People often continue investing in bad decisions because they've already invested so much, hoping for a better outcome.
  2. Romance Scams Target Anyone: It's not just women; men, too, can fall prey to romance scams, especially when they feel lonely.
  3. Loneliness and Vulnerability: Scammers prey on feelings of loneliness, using manipulation and promises of love to deceive and exploit their victims.

Quotes:

  1. "This man gave the money away, but he’s invested so much time into this romance, he wants it to pay off."
  2. "Loneliness is not a degree. Once you have that feeling, it’s hard to overcome."
  3. "Cryptocurrency is great, but once the money’s gone, it’s gone. There’s no way to trace it back."

Tune in to learn more about how to protect yourself and your loved ones from financial scams!

💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!

https://calendly.com/abridgewaywm/consultation

📖Free E-Book- 4 Pillars to Christian Investing: https://mailchi.mp/abrwealthmanagement/christianinvesting

🏠 Visit our Website: https://www.abrwealthmanagement.com

*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

Video/Audio Credit: CBS Morning

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Manage episode 446314402 series 3320629
المحتوى المقدم من A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

In this episode, A.B. Ridgeway dives into the story of a 75-year-old man who fell victim to a romance scam, losing his life savings of $150,000. His son shares the heartbreaking journey of trying to intervene and the psychological challenges his father faces. Despite numerous warnings, the man continued to believe in the scam due to the powerful grip of the "sunken cost fallacy." This episode sheds light on the dangers of financial scams, the emotional toll of loneliness, and how scammers prey on vulnerable individuals.

Key Takeaways:

  1. Sunken Cost Fallacy: People often continue investing in bad decisions because they've already invested so much, hoping for a better outcome.
  2. Romance Scams Target Anyone: It's not just women; men, too, can fall prey to romance scams, especially when they feel lonely.
  3. Loneliness and Vulnerability: Scammers prey on feelings of loneliness, using manipulation and promises of love to deceive and exploit their victims.

Quotes:

  1. "This man gave the money away, but he’s invested so much time into this romance, he wants it to pay off."
  2. "Loneliness is not a degree. Once you have that feeling, it’s hard to overcome."
  3. "Cryptocurrency is great, but once the money’s gone, it’s gone. There’s no way to trace it back."

Tune in to learn more about how to protect yourself and your loved ones from financial scams!

💵Sign up for a Christian Finance Consultation and create your Financial Plan Today!

https://calendly.com/abridgewaywm/consultation

📖Free E-Book- 4 Pillars to Christian Investing: https://mailchi.mp/abrwealthmanagement/christianinvesting

🏠 Visit our Website: https://www.abrwealthmanagement.com

*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.

Video/Audio Credit: CBS Morning

  continue reading

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