May 27, 2025 • 25 mins
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Episode Transcript
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Speaker 1 (00:01):
Welcome to the Fiscal Physical Podcast.
Join us each week as we sitdown with the founder of Alchemy
Wealth Management and author ofyour Fiscal Physical, Ryan
Nelson.
Tune in to gain valuableinsights and practical tips as
we simplify complex financialconcepts into digestible lessons
(00:22):
.
From budgeting to retirementplanning, this podcast is your
go-to resource for masteringfinancial literacy.
Aaron Hoisington (00:33):
Welcome everybody to this week's episode
of the Fiscal Physical Podcast.
My name's Aaron.
I am here, as always, with theillustrious Ryan Nelson, the
founder of Alchemy WealthManagement.
Ryan, what's cracking with youtoday?
Ryan Nelson (00:46):
man, not too much.
Same old, same old.
What about you?
Aaron Hoisington (00:49):
Yeah, I am in the same boat and, honestly, not
complaining, I kind of like thesame old, same old.
Right now, it's nice whenthings are going okay.
You're like, okay, I feel likeI got a handle on things, and
then, before you know it, thingsget messed up and you have to
go with it.
But hopefully, in the financialworld, things are going well on
your end and we're here tobring some financial literacy to
(01:11):
our listeners out there.
So let's jump in.
You ready, let's do it Allright, awesome.
So today we're going to talkabout financial scams.
How fun, great.
These are, unfortunately, a bigpart of the world.
Today I was reading up on somestatistics before this year and
(01:31):
it mentioned that, according tothe FTC Federal Trade Commission
Americans lost about $10billion in scams in 2023.
That's a lot of money.
So you know, obviously indifferent realms, whatever they
want to call that.
But, ryan, I think in yourindustry, you've probably seen
or come across some financialscams or heard stories of it in
your day.
(01:52):
So I'm just curious if youcould maybe share some tips or
tricks on how to avoid these,how to look out for them, and
kind of increase everybody'sknowledge on what to be alert
for.
Ryan Nelson (02:01):
Yeah, absolutely.
I was just trying to look thisup real quick because I think to
be alert, for, yeah, absolutely, I was just trying to look this
up real quick because I think.
Yeah, so the FTC estimates thatthere were 12.5 billion in
scams last year, so that's a 25%increase.
And last I heard I waslistening to a podcast earlier
this week on this and they weresaying that I can't remember
what entity they identified, butthey thought the number was
(02:24):
closer to double that, somewhereover 20 billion, because I
believe this 12.5 million isreported scams and so a lot of
people apparently don't want toreport being scams because it
can be a bit embarrassing or itcould be you've done something
kind of stupid or something, ormaybe trying to do something
illicit.
(02:44):
So, yeah, I think the actualnumber is far, far greater than
even what's reported, which iscrazy.
Aaron Hoisington (02:55):
Great, call out there for sure.
I think that the embarrassmentof when you get scammed, or the
possibility like yeah, you'reprobably not going to report
that, but depending on how muchthe cost is, or whatever, but
yeah, but let's dive in.
What are some of the mostcommon ones you've seen?
Ryan Nelson (03:06):
Yeah, yeah, well, I think we'll maybe just spend
our time today talking aboutmaybe five of the most common
ones, perfect, but I think,before we dive into those.
So, scams right, more peopleare on the internet today
Basically everybody, right andso there's certainly a lot more
opportunity for scammers, right,and so there's certainly a lot
(03:26):
more opportunity for scammers.
And as technology keepsadvancing, it's maybe easier and
easier, so to speak, forspammers to sort of trick us.
And so, yeah, there'sdefinitely a lot of opportunity
for scammers and they seem.
I think, an important piece andlike a theme you'll hear, a
reoccurring theme through a lotof these is they're preying on
our emotions of like fear,urgency, greed and loneliness,
(03:50):
right, so they're again preyingon, like, the emotional status
of certain individuals, andthat's probably the most
successful.
You know scams, and that'sagain a reoccurring theme.
It's kind of interesting.
Aaron Hoisington (04:02):
Yeah, sorry.
I think that that's incrediblyaccurate about like you tugging
on heartstrings and such too,but also the sophistication of
today versus like I rememberwhen I was in college I was
trying to rent out my apartmentduring the summer and I got like
a scammer and it's like myfirst instance with the scam and
it was like hey, like you couldclearly tell like through this
(04:23):
thing, it was all right.
You send me a money order and Iwill send you back the rest or
whatever.
And I was like no, this feelsall wrong and everything too,
but nowadays the sophisticationis so much better than that.
Way better, yep.
Ryan Nelson (04:37):
So, yeah, let's dive right in.
So one of the most common islike phishing emails or texts.
Now, they're sending a ton oftext too, but so this would just
be phishing, um, and so whatphishing is is like a fake
message um being sent.
Oftentimes it's maybe we'remostly going to be talking about
not mostly we're only talkingabout financial scams today.
(04:58):
Obviously there's probably awhole bunch of bunch of other
scams as well, um, but so from afinancial standpoint, these be
fake.
This phishing messages would befake messages.
So oftentimes they're intendedto look like a bank or maybe a
place that you make purchasefrom commonly so maybe an Amazon
or a target, something likethat and then they will usually
(05:19):
include a link and then ask foryour personal information, right
, and so this is just basicallysomebody faking another
organization trying to get yourinformation, and oftentimes
there's this like tone ofurgency or requesting login
information, right, so that isphishing in itself.
You know, I would say maybe wecan give a couple of words of
(05:42):
wisdom for each of these realquick.
It would be.
You know, most of thesefinancial institutions, there's
not a lot of urgency right, sothat's a big red flag If
somebody is telling you to dosomething like today or tomorrow
.
If we don't hear from you bytomorrow, we're sending CIA
agents.
That's probably a scam, rightAgain, preying on fear, in that
(06:04):
case right.
And I'd be very careful whenfinancial institutions request
information from you.
And so, again, if there's aWells Fargo.
I get an email.
Wells Fargo is asking for myusername and login.
That just doesn't feel right.
If I wanted to verify this, Icould close out that email, go
to wellsfargocom and just log indirectly through there and see
(06:25):
if I have any messages orrequests.
So you can go straight to thehorse's mouth and so.
Similar thing if you get aphone call and it's like, hey,
this is Wells Fargo, so I'veactually done this before.
I'll get a phone call from mycredit card.
It'll be like, hey, whateverthis is, I don't want to give
away my.
Aaron Hoisington (06:43):
Yeah, yeah yeah, I don't want to give away
my scams, but let's say, let'ssay it's like Chase Bank, right.
Ryan Nelson (06:48):
So it's like, hey, uh, this is Chase Bank.
I'm looking at, you know, thisis this.
Whatever, ryan, you know we'recalling about fraudulent
activity.
It's like, oh well, I do getnotices about fraudulent
activity, um, but it's like gosh, something just doesn't sound
right.
Um, you know, you can just sayperfect, thank you, appreciate
the call.
You know I'll.
I'll reach out directly tochase and then you can hang up,
you can go Google what chase'sphone number is.
(07:09):
You can call chase directly andsay hey, I just got a phone
call from you guys Sounds likethere was from fraudulent
activity trying to get itresolved.
And then they'll either be ableto tell you yep, the we, we,
yep, we show an indication offraud, let's go ahead and
resolve this, or no, we can'tcall you.
So always going straight to theresource, whether that's the you
know like again hanging up orclosing out the email and
(07:31):
calling them directly or goingdirectly to their website is
going to be a way to help avoidthose phishing messages.
Aaron Hoisington (07:36):
Yep, no doubt, and I think that you hit on the
urgency of that like of likehey like it takes like two
minutes to like hang up and gocall them, right, and they're
going to have everything in thesystem.
So, just going right to thesource, to where you can call
the card, the number on the backof your card yeah, give that a
call.
Versus, like you never know,you get an 800 number call.
You're like what's that Right?
Just that extra step can beimportant, absolutely.
(07:59):
The panic.
I understand the panic thatsets in when you hear that
though.
Like you're like.
Oh my gosh, I need to take careof this right now.
My card's going to be used forall this stuff.
It's like take a breath twominutes, call back.
If it's legit, then you've donethe right thing at that point.
Ryan Nelson (08:14):
Exactly, yep.
Another common one is techsupport scams, so it'd be, like
some pop up on your computer.
I feel like these are like, atleast like in my world.
I see these less now, but itwould be like a pop-up on your
computer saying like oh, yourcomputer is infected or we'll
repair this for you.
And the reality is, just likethese legitimate tech companies
(08:36):
don't initiate tech support, alegitimate company isn't going
to know that you got that virusand is proactively reaching out
to you to resolve it, and sothis would be one of those
things again where, if you'regetting prompted, it would be
one of those things, instead ofjust taking their word for it
that they can help you, maybejust close that out.
(08:58):
If you're concerned, take yourcomputer to an actual
professional and they'd be ableto look at it and say, maybe yes
, you do have a virus, but we'llgo ahead and help you right so
yeah, you would really, be froma tech support standpoint, if
you, whether you get a pop-up ora phone call, again one of
those things where you'reprobably best just taking that
two minutes, like you said inthe last one, giving yourself
(09:21):
you know, can trust and havingthem resolve it yep that makes
makes complete sense.
Aaron Hoisington (09:25):
Yeah, I don't see those as much as I used to.
I feel like with pop-ups andsuch too I don't know if it's
because blockers have gottenbetter or whatever it might be,
but like I know that like incollege that was a big thing you
get pop-ups and you're justlike, oh don't you know, oh my
gosh, I got this virus.
I gotta resolve it right nowlike kind of thing and it's like
no legs.
But yeah, it's like no legs, butyeah, it's interesting.
Maybe your internet habits havechanged, I don't know.
Yeah, maybe For better or worse.
Ryan Nelson (09:46):
Hard to say Next one Romance schemes.
Aaron Hoisington (09:52):
Now we're talking.
Ryan Nelson (09:54):
So this one again going back to, like, preying on
emotions, right.
So this is one where this is, Ifeel like, becoming more and
more common, and so these arekind of hard because in some
ways, they're almost legitimate,right.
So it's oftentimes, you'll seeagain, oftentimes the elderly
(10:18):
are more vulnerable to this andsomebody will form a connection
with somebody and request themfor money.
And it's an interesting onebecause it's almost like the
connection is real, but it'sonly a one-way connection, right
.
Like one person's creating thatconnection only with the intent
of getting money.
(10:38):
The other one is engaging inthe connection because they want
the connection, but it's areally hard one to identify
because they're not tricking younecessarily.
In a way, you actually do end upfalling in love with this
person or feeling an emotionalconnection to them and you feel
that they need help, and thenyou send them money for this
help, right.
So it's a very interesting, Ithink, scam, but it is prevalent
(11:00):
, it's common on dating sites.
Again, it preys on that maybeloneliness or emotional
connection.
Ultimately, they end up askingfor some sort of financing.
Often it's something like agift card or crypto.
So, again, if somebody you knowor like is requesting
cryptocurrency or gift card.
That's just kind of weird.
There might not be other peoplein your relationship asking you
(11:21):
for random gift cards or askingyou for crypto.
That might be a good indicationthat.
Why is this one person in mylife asking me, requesting
different things?
That'd be a red flag for sure.
Absolutely, but definitely.
It's just emotionallymanipulative and therefore can
be just very, very effective andhard.
Yeah, so this is one you justgot to be aware of and it's
(11:45):
maybe harder to see if you'rethe one caught up in it.
So it's one of those thingswhere it's important to look out
for those around you and yourparents and your siblings and
your kids, and you know, if yoususpect some sort of fraud, um,
or you know, scam happening like, it'd be important to talk to
those people.
Yep, without a doubt.
Aaron Hoisington (12:03):
I think that that's a, that's a you you hit
it several times very effective.
That is one of the mosteffective ways is developing
that emotional, that connectionwith somebody and then preying
on those emotions.
For sure is as slimy as itsounds like to the day-to-day
person, like you and me orwhatever, but like it is
effective, you see it all thetime.
(12:23):
There's, there's movies,there's tv shows, there's all
these things made about these,about individuals who get taken
for these things, and you justfeel bad in the end.
It's like oh man like buteffective tactic, as bad as it
sounds yeah absolutely.
Ryan Nelson (12:37):
And then so, yeah, the fourth, fourth of five,
we'll talk about imposter scams.
So this would be like thecommon one that I hear a lot
about is, again, unfortunatelythe elderly is sort of more
vulnerable to these, and so youknow it'll be, you know it'll be
(12:59):
, um, you know it'll be like umsomebody.
The classic one that I've heardin I've heard multiple people
get the same one is it will be agrandchild calling a
grandparent.
So let's say, uh, little Johnnyis calling their grandma and
says basically, hey, grandma, um, this is Johnny.
I'm in a jail in Mexico.
I need $5,000 bail.
Um, you know, can you send itto me now?
(13:20):
I don't want it to.
You know, I I'm embarrassed, Idon't want to tell my parents,
but I'm safe, I'm okay, can youjust send me the money?
Um, and the reality is it's notJohnny.
Johnny, safe, safe at home.
It's somebody impersonatingJohnny.
So they just got thatinformation.
You know, they just found outthe grandchild's name calls the
grandparent.
The grandparent doesn'tnecessarily recognize or not
(13:40):
recognize the name, I mean thevoice and so it can be again one
of those things that where,again, you're preying on
somebody that's vulnerable,you're tapping into that
emotions, right, of course thatgrandparent wants to help their
grandchild.
They think that maybe they'rein danger or some you know some
possibility of that, um, sothat's a very common one.
(14:02):
Another very common one ofimposter would be, you know,
somebody calling you about yourlike, like, um, like a
government agency calling youright, like like I can tell you
the IRS they're way behind.
Aaron Hoisington (14:16):
They're understaffed.
Ryan Nelson (14:17):
They're not making outgoing phone calls.
You can't get ahold of them ifyou call so like you get a call
from the IRS telling you you oweback taxes.
Like that's not how the IRScommunicates.
That's probably a scam right.
So, yeah, they could beimpostering anybody, but
oftentimes it could be somebodythat's of power that could
(14:39):
potentially scare you, right?
So, again, preying on thatemotion.
Or it could be somebody like afamily member.
They're impostering a familymember and preying on you that
way.
So, again, they're usuallyasking for some sort of bail
money or back taxes or emergencyhelp or something like that.
So, again, this one is anotherone of those ones where it'll be
(14:59):
urgent, urgent, urgent, right,yep, you don't go now, yeah, and
so it's like I need the moneyin the next 15 minutes.
Can you please help me?
This is my only opportunity,and the reality is this is
another one of those thingswhere it's like take a deep
breath, like you said, giveyourself two minutes.
You can go right to the sourceso you can call Johnny.
If you don't know Johnny'sphone number, guess what?
Johnny's probably not yourfirst.
Speaker 1 (15:20):
He's probably not reaching out to you first to get
that money right.
Ryan Nelson (15:25):
And if you do know Johnny's phone number, just give
Johnny a quick call and say andoh, you're at school, you're in
college.
Speaker 1 (15:31):
Oh, okay Well good to know Somebody just called me.
Aaron Hoisington (15:33):
See you later.
Ryan Nelson (15:35):
So that'd be another one of those things
where, yeah, just take a lot ofthis stuff.
I think just separatingyourself from it, reducing
they're going to try to make itfeel urgent.
Taking a deep breath and tryingto let the emotion settle down
can help here.
Aaron Hoisington (15:48):
Awesome.
I love that man.
That's a great way.
What's the fifth one here?
Ryan Nelson (15:51):
Investment scams and crypto fraud.
So this is obviously moreprevalent these days.
But from investment fraud, ifsomebody's guaranteeing returns
or I talk to people all the timeif something sounds too good to
be true, guess what?
It's probably too good to betrue, right?
And so usually if somebody hassome sort of investment
(16:14):
opportunity for you, hey,there's a limited opportunity.
So there's scarcity, there'surgent.
You know, we're only lettingyou know, we're only letting you
know five people get in at ahundred thousand dollars, but
you know it's a heck of anopportunity and so we want it to
come to you first, like, let usknow, but if you don't take
this opportunity, somebody elseis going to.
(16:39):
So you need to know by end ofday or something like, again, if
it sounds too good to be trueand there's some urgency around
it, guess what it's probably toogood to be true and it's
probably a scam.
So yeah, if there's a lack oftransparency or just like no via
, you know, no verifiable trackrecord, so you know you go back
and you try to look this stuffup and there's just no kind of
data to like support this, rightAgain, it's probably a scam.
And again there's that pressureto act quickly, right, that
urgency.
(17:00):
That's a huge red flag in allof these.
So hopefully there was a coupleof themes there.
So I'd say that was the lastone, but that was probably again
a couple of themes there thatyou could weave between all of
them.
That helped you kind of, youknow, raise your antennas and
start saying ah, this feels alittle weird.
Aaron Hoisington (17:15):
Yeah, oh, absolutely.
I think that the and I'd beremiss if I didn't throw out the
trust but verify Trust butverify I actually don't know
where that came.
I know I learned it from you andour good buddy Chris, like back
in the day, but I don't knowwhere you guys originally
started that or that was like aquote or something.
I or something.
I think that's Chris's thing.
It's a great thing to doBecause I'm a pretty trusting
(17:37):
guy overall, but I do enjoyverifying.
So it's like hey, somebodycalls me and says, hey, your
credit card's been stolen.
I'm probably going to trustthem that my credit card's been
stolen, but I'm going to hang upand verify with my credit card
company that it's actuallyhappening.
So I think that there's a bigpiece there.
Uh, always enjoy giving chris agood shout out.
(17:57):
One of our loyal listeners fromparker colorado, sure, and
maybe I don't know if he'slistening a while hard to say
real quick.
Ryan Nelson (18:04):
So trust but verify is actually a russian proverb,
proverb, and apparently itrhymes in russian.
Really, yeah, but then ronaldreagan um, he used it on several
occasions in context of thenuclear disarmament discussion
with the Soviet Union.
So it looks like Ronald Reaganmay have popularized it here for
(18:24):
us, but the old Russian proverbthat actually rhymes in Russian
.
Aaron Hoisington (18:28):
Yeah, there you go.
I'm going to have to learn howto say that in Russian.
Yeah, we'll drop that on thenext podcast.
Ryan Nelson (18:34):
Yeah, so real quick themes urgency that's a huge
red flag.
Always try to verifyindependently.
So hang quick themes urgencythat's a huge red flag.
Always try to verifyindependently.
So hang up, close out the email, take a second, go straight to
the source.
So go and walk into the bankbranch or go to the website or
call the phone number.
And then another thing just tohelp protect you is use
multi-factor authentication andstuff whenever possible Helps
(18:56):
avoid anybody being able to getinto your accounts.
So those would be a couple, youknow, kind of three quick
hitters to help avoid scams.
Aaron Hoisington (19:03):
No, that's great man.
I really appreciate theinformation.
Hopefully, everybody can takedefinitely something from this
one, because scams are out thereand you mentioned the elderly
and, just like you would assumethat, hey, your parents maybe
know your voice or whatever itis.
But making sure that, like hey,like, if this happens, like
maybe coming up with a safe wordor something like hey, it's
actually me or you knowsomething along those lines to
(19:25):
where, as people get older,they'd be potentially come more
vulnerable in that regard, andensuring that everybody is set
up for the best success possible.
But, um, yeah, they're outthere.
Make sure that, uh, you guys,uh, you guys, uh, take that.
Tax season is upon us.
Actually, it's already passedat this point.
So if you get any calls at thispoint from the IRS, like Ryan
said, they're not up to speed.
(19:45):
They're not going to be callingAaron Hoisington to collect his
back taxes.
Awesome, thanks so much, ryan.
Appreciate the insight.
We'll be back on the other sideof this with the personal
section.
Everybody hang tight, awesome.
Speaker 1 (19:59):
And now to put the personal in personal finance.
Aaron Hoisington (20:06):
All right, ryan, we are back here and with
the other side of the physicalpodcast, I actually really am
curious about this answer fromyou here, and I think I had to
put some parameters on itbecause I think that you'd poke
some might still poke some holesin it, but we'll see.
And so this one I want to poseto the listeners as well too,
(20:27):
just because it's always kind offun to daydream about this.
So if you were given a milliondollars, a million dollars goes
into your bank account, tax-free.
You've got a million dollarshere, but the only catch is you
have to spend it within 24 hours.
So, side note, you can't investit, you can't just put it into
the bank account, can't give itto Alchemy Wealth Management,
(20:47):
anything like that, you justhave to spend it in 24 hours.
What are you, ryan Nelson,doing with that money?
Honestly, it's hard as I thinkabout that there's not a lot of
things that you can.
That's a lot of money to spendin a single day.
Ryan Nelson (21:02):
It's like that's a lot of clothes, that's a lot of
food, that's a lot of likerounds of golf, a lot of movies
to watch, like um.
It's actually hard to think ofsomething you could actually
spend all of that on Um.
So I was thinking, like youcould drop it on a house.
You could go buy a really nicehouse.
That's sort of an investment.
I mean, it's an appreciatingasset.
So I don't know if that'sallowed or not, especially if
you bought it.
(21:25):
Booking prearranged travelcould also be something cool,
but even that it's like you know.
If each trip is like you know,you go book some flight like you
know, 2,500 bucks here, 2,500bucks there, like that's a lot
of travel right.
And you know flights you can'teven book more than nine months
out and stuff.
So I was like I don't even knowhow you could.
Um, it would be prettychallenging.
(21:46):
Like you'd have to have a bigticket item like even buying
boats like you would have to.
You could spend it all on oneboat.
You could go buy one reallynice boat, um, but if you bought
, like reasonable boats, that'seven a lot of boats.
Speaker 1 (21:57):
You know a lot of vehicles.
Ryan Nelson (21:59):
Again, it's one of those things.
You could buy it on one vehicle, yeah, right, yeah.
Or or you could buy you know, alot of really nice vehicles.
So, um, yeah, I don't know.
It would actually besurprisingly, probably
challenging to spend thatmillion dollars in a single 24
hour window.
Now you give me a week.
Speaker 1 (22:13):
Yeah, yeah easy.
Ryan Nelson (22:15):
Gone, Gone so yeah, I don't know what are your
thoughts.
How would you.
Aaron Hoisington (22:20):
You got an idea, kind of.
I suppose.
I mean, the 24-hour parameterreally makes it tough.
Because you're like, okay.
Because immediately I was likeoh yeah, I book all this travel.
And I was like, probably themost expensive vacation that I'd
even planned, like if I gospend two weeks in Europe or
something like that, I may bespending 20, 30 grand, and
(22:40):
that's nice, I'd be bookingfirst class, all these different
things.
Honestly, I'm like that's justa drop in the bucket.
For a million dollars too.
You're like wait a minute here,what am I going to do?
So I think about I definitelyI'd probably buy a couple of new
vehicles, depreciating assetsthat, in mind, pay off the house
(23:02):
.
And you're just like okay,these are all responsible things
, but I'd probably buy some landsomewhere.
Ryan Nelson (23:07):
Nice.
Aaron Hoisington (23:08):
I think a nice piece of a big area property
out in, maybe somewhere an hour,a couple hours outside of Reno,
to where I could go andeventually maybe build a house
or something there or just goand have this spot where you
have.
I think that'd be great, butthen again I'd be like, all
right, cool, I spent like 500grand.
Now, what am I going to do withthe rest of this?
Ryan Nelson (23:29):
Yeah, I was going to say you can buy a lot of land
.
I think we like rural areas ofjust pure raw land.
It's a lot of land too.
Aaron Hoisington (23:36):
It is.
So it really was morechallenging than I thought, and
so I was like, cool, I'll payoff like all my debts, and I'm
like, huh, well, I probablymaybe like hire like a personal
chef for you.
I don't know like these certainthings that you kind of just
start to go, but obviously thesmart thing to do invest it
naturally.
Ryan Nelson (23:53):
Yeah, it's one of those things where, like a
million dollars isn't that muchmoney, Like it would be hard to
spend a million dollars in ayear I mean in a day but also a
million dollars would be likenot enough to retire anymore
Right so it's like one of thosethings.
It's like, yeah, it can be alarge sum of money, but like
it's all about context.
And yeah, it could be a largesum of money, but also, at the
(24:15):
same time, it's like not thatmuch but also at the same time
it's like not that much, yeah,awesome.
Aaron Hoisington (24:19):
Well, I appreciate you sharing, ryan.
Hopefully that sparked someinterest for our listeners.
If nothing else, got youthinking about a million dollars
showing up tomorrow in yourbank account.
And so we'll go ahead and endthis episode here, and, ryan,
I'll let you finish us off hereman, as always, stay the course.
Speaker 1 (24:34):
Thank you for joining us for the Fiscal Physical
Podcast.
Until next time, happylistening and, as always, stay
the course.
If you have a question or topicsuggestions, please email us at
podcast at alchemywealthcom.
If you enjoyed today'sdiscussion, subscribe to the
(24:56):
podcast to ensure you never missan episode and consider leaving
us a rating and review on yourfavorite platform.
This helps other listeners likeyou find the show.
For more resources, you canvisit Alchemy Wealth
Management's website atwwwalchemywealthcom or find your
fiscal physical the book onAmazon.
We'd be remiss if we didn'tmention that personal finance is
(25:16):
just that personal.
Please don't take anything wesay as advice.
The preceding content is forinformational and entertainment
purposes only.
It's not an offer or asolicitation, nor should it be
construed or relied upon for tax, legal or investment advice.
It doesn't consider yourpersonal financial situation or
objectives and may not besuitable for you.
Welcome to the Fiscal Physical Podcast.
Join us each week as we sitdown with the founder of Alchemy
Wealth Management and author ofyour Fiscal Physical, Ryan
Nelson.
Tune in to gain valuableinsights and practical tips as
we simplify complex financialconcepts into digestible lessons
(00:22):
.
From budgeting to retirementplanning, this podcast is your
go-to resource for masteringfinancial literacy.
Aaron Hoisington (00:33):
Welcome everybody to this week's episode
of the Fiscal Physical Podcast.
My name's Aaron.
I am here, as always, with theillustrious Ryan Nelson, the
founder of Alchemy WealthManagement.
Ryan, what's cracking with youtoday?
Ryan Nelson (00:46):
man, not too much.
Same old, same old.
What about you?
Aaron Hoisington (00:49):
Yeah, I am in the same boat and, honestly, not
complaining, I kind of like thesame old, same old.
Right now, it's nice whenthings are going okay.
You're like, okay, I feel likeI got a handle on things, and
then, before you know it, thingsget messed up and you have to
go with it.
But hopefully, in the financialworld, things are going well on
your end and we're here tobring some financial literacy to
(01:11):
our listeners out there.
So let's jump in.
You ready, let's do it Allright, awesome.
So today we're going to talkabout financial scams.
How fun, great.
These are, unfortunately, a bigpart of the world.
Today I was reading up on somestatistics before this year and
(01:31):
it mentioned that, according tothe FTC Federal Trade Commission
Americans lost about $10billion in scams in 2023.
That's a lot of money.
So you know, obviously indifferent realms, whatever they
want to call that.
But, ryan, I think in yourindustry, you've probably seen
or come across some financialscams or heard stories of it in
your day.
(01:52):
So I'm just curious if youcould maybe share some tips or
tricks on how to avoid these,how to look out for them, and
kind of increase everybody'sknowledge on what to be alert
for.
Ryan Nelson (02:01):
Yeah, absolutely.
I was just trying to look thisup real quick because I think to
be alert, for, yeah, absolutely, I was just trying to look this
up real quick because I think.
Yeah, so the FTC estimates thatthere were 12.5 billion in
scams last year, so that's a 25%increase.
And last I heard I waslistening to a podcast earlier
this week on this and they weresaying that I can't remember
what entity they identified, butthey thought the number was
(02:24):
closer to double that, somewhereover 20 billion, because I
believe this 12.5 million isreported scams and so a lot of
people apparently don't want toreport being scams because it
can be a bit embarrassing or itcould be you've done something
kind of stupid or something, ormaybe trying to do something
illicit.
(02:44):
So, yeah, I think the actualnumber is far, far greater than
even what's reported, which iscrazy.
Aaron Hoisington (02:55):
Great, call out there for sure.
I think that the embarrassmentof when you get scammed, or the
possibility like yeah, you'reprobably not going to report
that, but depending on how muchthe cost is, or whatever, but
yeah, but let's dive in.
What are some of the mostcommon ones you've seen?
Ryan Nelson (03:06):
Yeah, yeah, well, I think we'll maybe just spend
our time today talking aboutmaybe five of the most common
ones, perfect, but I think,before we dive into those.
So, scams right, more peopleare on the internet today
Basically everybody, right andso there's certainly a lot more
opportunity for scammers, right,and so there's certainly a lot
(03:26):
more opportunity for scammers.
And as technology keepsadvancing, it's maybe easier and
easier, so to speak, forspammers to sort of trick us.
And so, yeah, there'sdefinitely a lot of opportunity
for scammers and they seem.
I think, an important piece andlike a theme you'll hear, a
reoccurring theme through a lotof these is they're preying on
our emotions of like fear,urgency, greed and loneliness,
(03:50):
right, so they're again preyingon, like, the emotional status
of certain individuals, andthat's probably the most
successful.
You know scams, and that'sagain a reoccurring theme.
It's kind of interesting.
Aaron Hoisington (04:02):
Yeah, sorry.
I think that that's incrediblyaccurate about like you tugging
on heartstrings and such too,but also the sophistication of
today versus like I rememberwhen I was in college I was
trying to rent out my apartmentduring the summer and I got like
a scammer and it's like myfirst instance with the scam and
it was like hey, like you couldclearly tell like through this
(04:23):
thing, it was all right.
You send me a money order and Iwill send you back the rest or
whatever.
And I was like no, this feelsall wrong and everything too,
but nowadays the sophisticationis so much better than that.
Way better, yep.
Ryan Nelson (04:37):
So, yeah, let's dive right in.
So one of the most common islike phishing emails or texts.
Now, they're sending a ton oftext too, but so this would just
be phishing, um, and so whatphishing is is like a fake
message um being sent.
Oftentimes it's maybe we'remostly going to be talking about
not mostly we're only talkingabout financial scams today.
(04:58):
Obviously there's probably awhole bunch of bunch of other
scams as well, um, but so from afinancial standpoint, these be
fake.
This phishing messages would befake messages.
So oftentimes they're intendedto look like a bank or maybe a
place that you make purchasefrom commonly so maybe an Amazon
or a target, something likethat and then they will usually
(05:19):
include a link and then ask foryour personal information, right
, and so this is just basicallysomebody faking another
organization trying to get yourinformation, and oftentimes
there's this like tone ofurgency or requesting login
information, right, so that isphishing in itself.
You know, I would say maybe wecan give a couple of words of
(05:42):
wisdom for each of these realquick.
It would be.
You know, most of thesefinancial institutions, there's
not a lot of urgency right, sothat's a big red flag If
somebody is telling you to dosomething like today or tomorrow
.
If we don't hear from you bytomorrow, we're sending CIA
agents.
That's probably a scam, rightAgain, preying on fear, in that
(06:04):
case right.
And I'd be very careful whenfinancial institutions request
information from you.
And so, again, if there's aWells Fargo.
I get an email.
Wells Fargo is asking for myusername and login.
That just doesn't feel right.
If I wanted to verify this, Icould close out that email, go
to wellsfargocom and just log indirectly through there and see
(06:25):
if I have any messages orrequests.
So you can go straight to thehorse's mouth and so.
Similar thing if you get aphone call and it's like, hey,
this is Wells Fargo, so I'veactually done this before.
I'll get a phone call from mycredit card.
It'll be like, hey, whateverthis is, I don't want to give
away my.
Aaron Hoisington (06:43):
Yeah, yeah yeah, I don't want to give away
my scams, but let's say, let'ssay it's like Chase Bank, right.
Ryan Nelson (06:48):
So it's like, hey, uh, this is Chase Bank.
I'm looking at, you know, thisis this.
Whatever, ryan, you know we'recalling about fraudulent
activity.
It's like, oh well, I do getnotices about fraudulent
activity, um, but it's like gosh, something just doesn't sound
right.
Um, you know, you can just sayperfect, thank you, appreciate
the call.
You know I'll.
I'll reach out directly tochase and then you can hang up,
you can go Google what chase'sphone number is.
(07:09):
You can call chase directly andsay hey, I just got a phone
call from you guys Sounds likethere was from fraudulent
activity trying to get itresolved.
And then they'll either be ableto tell you yep, the we, we,
yep, we show an indication offraud, let's go ahead and
resolve this, or no, we can'tcall you.
So always going straight to theresource, whether that's the you
know like again hanging up orclosing out the email and
(07:31):
calling them directly or goingdirectly to their website is
going to be a way to help avoidthose phishing messages.
Aaron Hoisington (07:36):
Yep, no doubt, and I think that you hit on the
urgency of that like of likehey like it takes like two
minutes to like hang up and gocall them, right, and they're
going to have everything in thesystem.
So, just going right to thesource, to where you can call
the card, the number on the backof your card yeah, give that a
call.
Versus, like you never know,you get an 800 number call.
You're like what's that Right?
Just that extra step can beimportant, absolutely.
(07:59):
The panic.
I understand the panic thatsets in when you hear that
though.
Like you're like.
Oh my gosh, I need to take careof this right now.
My card's going to be used forall this stuff.
It's like take a breath twominutes, call back.
If it's legit, then you've donethe right thing at that point.
Ryan Nelson (08:14):
Exactly, yep.
Another common one is techsupport scams, so it'd be, like
some pop up on your computer.
I feel like these are like, atleast like in my world.
I see these less now, but itwould be like a pop-up on your
computer saying like oh, yourcomputer is infected or we'll
repair this for you.
And the reality is, just likethese legitimate tech companies
(08:36):
don't initiate tech support, alegitimate company isn't going
to know that you got that virusand is proactively reaching out
to you to resolve it, and sothis would be one of those
things again where, if you'regetting prompted, it would be
one of those things, instead ofjust taking their word for it
that they can help you, maybejust close that out.
(08:58):
If you're concerned, take yourcomputer to an actual
professional and they'd be ableto look at it and say, maybe yes
, you do have a virus, but we'llgo ahead and help you right so
yeah, you would really, be froma tech support standpoint, if
you, whether you get a pop-up ora phone call, again one of
those things where you'reprobably best just taking that
two minutes, like you said inthe last one, giving yourself
(09:21):
you know, can trust and havingthem resolve it yep that makes
makes complete sense.
Aaron Hoisington (09:25):
Yeah, I don't see those as much as I used to.
I feel like with pop-ups andsuch too I don't know if it's
because blockers have gottenbetter or whatever it might be,
but like I know that like incollege that was a big thing you
get pop-ups and you're justlike, oh don't you know, oh my
gosh, I got this virus.
I gotta resolve it right nowlike kind of thing and it's like
no legs.
But yeah, it's like no legs, butyeah, it's interesting.
Maybe your internet habits havechanged, I don't know.
Yeah, maybe For better or worse.
Ryan Nelson (09:46):
Hard to say Next one Romance schemes.
Aaron Hoisington (09:52):
Now we're talking.
Ryan Nelson (09:54):
So this one again going back to, like, preying on
emotions, right.
So this is one where this is, Ifeel like, becoming more and
more common, and so these arekind of hard because in some
ways, they're almost legitimate,right.
So it's oftentimes, you'll seeagain, oftentimes the elderly
(10:18):
are more vulnerable to this andsomebody will form a connection
with somebody and request themfor money.
And it's an interesting onebecause it's almost like the
connection is real, but it'sonly a one-way connection, right
.
Like one person's creating thatconnection only with the intent
of getting money.
(10:38):
The other one is engaging inthe connection because they want
the connection, but it's areally hard one to identify
because they're not tricking younecessarily.
In a way, you actually do end upfalling in love with this
person or feeling an emotionalconnection to them and you feel
that they need help, and thenyou send them money for this
help, right.
So it's a very interesting, Ithink, scam, but it is prevalent
(11:00):
, it's common on dating sites.
Again, it preys on that maybeloneliness or emotional
connection.
Ultimately, they end up askingfor some sort of financing.
Often it's something like agift card or crypto.
So, again, if somebody you knowor like is requesting
cryptocurrency or gift card.
That's just kind of weird.
There might not be other peoplein your relationship asking you
(11:21):
for random gift cards or askingyou for crypto.
That might be a good indicationthat.
Why is this one person in mylife asking me, requesting
different things?
That'd be a red flag for sure.
Absolutely, but definitely.
It's just emotionallymanipulative and therefore can
be just very, very effective andhard.
Yeah, so this is one you justgot to be aware of and it's
(11:45):
maybe harder to see if you'rethe one caught up in it.
So it's one of those thingswhere it's important to look out
for those around you and yourparents and your siblings and
your kids, and you know, if yoususpect some sort of fraud, um,
or you know, scam happening like, it'd be important to talk to
those people.
Yep, without a doubt.
Aaron Hoisington (12:03):
I think that that's a, that's a you you hit
it several times very effective.
That is one of the mosteffective ways is developing
that emotional, that connectionwith somebody and then preying
on those emotions.
For sure is as slimy as itsounds like to the day-to-day
person, like you and me orwhatever, but like it is
effective, you see it all thetime.
(12:23):
There's, there's movies,there's tv shows, there's all
these things made about these,about individuals who get taken
for these things, and you justfeel bad in the end.
It's like oh man like buteffective tactic, as bad as it
sounds yeah absolutely.
Ryan Nelson (12:37):
And then so, yeah, the fourth, fourth of five,
we'll talk about imposter scams.
So this would be like thecommon one that I hear a lot
about is, again, unfortunatelythe elderly is sort of more
vulnerable to these, and so youknow it'll be, you know it'll be
(12:59):
, um, you know it'll be like umsomebody.
The classic one that I've heardin I've heard multiple people
get the same one is it will be agrandchild calling a
grandparent.
So let's say, uh, little Johnnyis calling their grandma and
says basically, hey, grandma, um, this is Johnny.
I'm in a jail in Mexico.
I need $5,000 bail.
Um, you know, can you send itto me now?
(13:20):
I don't want it to.
You know, I I'm embarrassed, Idon't want to tell my parents,
but I'm safe, I'm okay, can youjust send me the money?
Um, and the reality is it's notJohnny.
Johnny, safe, safe at home.
It's somebody impersonatingJohnny.
So they just got thatinformation.
You know, they just found outthe grandchild's name calls the
grandparent.
The grandparent doesn'tnecessarily recognize or not
(13:40):
recognize the name, I mean thevoice and so it can be again one
of those things that where,again, you're preying on
somebody that's vulnerable,you're tapping into that
emotions, right, of course thatgrandparent wants to help their
grandchild.
They think that maybe they'rein danger or some you know some
possibility of that, um, sothat's a very common one.
(14:02):
Another very common one ofimposter would be, you know,
somebody calling you about yourlike, like, um, like a
government agency calling youright, like like I can tell you
the IRS they're way behind.
Aaron Hoisington (14:16):
They're understaffed.
Ryan Nelson (14:17):
They're not making outgoing phone calls.
You can't get ahold of them ifyou call so like you get a call
from the IRS telling you you oweback taxes.
Like that's not how the IRScommunicates.
That's probably a scam right.
So, yeah, they could beimpostering anybody, but
oftentimes it could be somebodythat's of power that could
(14:39):
potentially scare you, right?
So, again, preying on thatemotion.
Or it could be somebody like afamily member.
They're impostering a familymember and preying on you that
way.
So, again, they're usuallyasking for some sort of bail
money or back taxes or emergencyhelp or something like that.
So, again, this one is anotherone of those ones where it'll be
(14:59):
urgent, urgent, urgent, right,yep, you don't go now, yeah, and
so it's like I need the moneyin the next 15 minutes.
Can you please help me?
This is my only opportunity,and the reality is this is
another one of those thingswhere it's like take a deep
breath, like you said, giveyourself two minutes.
You can go right to the sourceso you can call Johnny.
If you don't know Johnny'sphone number, guess what?
Johnny's probably not yourfirst.
Speaker 1 (15:20):
He's probably not reaching out to you first to get
that money right.
Ryan Nelson (15:25):
And if you do know Johnny's phone number, just give
Johnny a quick call and say andoh, you're at school, you're in
college.
Speaker 1 (15:31):
Oh, okay Well good to know Somebody just called me.
Aaron Hoisington (15:33):
See you later.
Ryan Nelson (15:35):
So that'd be another one of those things
where, yeah, just take a lot ofthis stuff.
I think just separatingyourself from it, reducing
they're going to try to make itfeel urgent.
Taking a deep breath and tryingto let the emotion settle down
can help here.
Aaron Hoisington (15:48):
Awesome.
I love that man.
That's a great way.
What's the fifth one here?
Ryan Nelson (15:51):
Investment scams and crypto fraud.
So this is obviously moreprevalent these days.
But from investment fraud, ifsomebody's guaranteeing returns
or I talk to people all the timeif something sounds too good to
be true, guess what?
It's probably too good to betrue, right?
And so usually if somebody hassome sort of investment
(16:14):
opportunity for you, hey,there's a limited opportunity.
So there's scarcity, there'surgent.
You know, we're only lettingyou know, we're only letting you
know five people get in at ahundred thousand dollars, but
you know it's a heck of anopportunity and so we want it to
come to you first, like, let usknow, but if you don't take
this opportunity, somebody elseis going to.
(16:39):
So you need to know by end ofday or something like, again, if
it sounds too good to be trueand there's some urgency around
it, guess what it's probably toogood to be true and it's
probably a scam.
So yeah, if there's a lack oftransparency or just like no via
, you know, no verifiable trackrecord, so you know you go back
and you try to look this stuffup and there's just no kind of
data to like support this, rightAgain, it's probably a scam.
And again there's that pressureto act quickly, right, that
urgency.
(17:00):
That's a huge red flag in allof these.
So hopefully there was a coupleof themes there.
So I'd say that was the lastone, but that was probably again
a couple of themes there thatyou could weave between all of
them.
That helped you kind of, youknow, raise your antennas and
start saying ah, this feels alittle weird.
Aaron Hoisington (17:15):
Yeah, oh, absolutely.
I think that the and I'd beremiss if I didn't throw out the
trust but verify Trust butverify I actually don't know
where that came.
I know I learned it from you andour good buddy Chris, like back
in the day, but I don't knowwhere you guys originally
started that or that was like aquote or something.
I or something.
I think that's Chris's thing.
It's a great thing to doBecause I'm a pretty trusting
(17:37):
guy overall, but I do enjoyverifying.
So it's like hey, somebodycalls me and says, hey, your
credit card's been stolen.
I'm probably going to trustthem that my credit card's been
stolen, but I'm going to hang upand verify with my credit card
company that it's actuallyhappening.
So I think that there's a bigpiece there.
Uh, always enjoy giving chris agood shout out.
(17:57):
One of our loyal listeners fromparker colorado, sure, and
maybe I don't know if he'slistening a while hard to say
real quick.
Ryan Nelson (18:04):
So trust but verify is actually a russian proverb,
proverb, and apparently itrhymes in russian.
Really, yeah, but then ronaldreagan um, he used it on several
occasions in context of thenuclear disarmament discussion
with the Soviet Union.
So it looks like Ronald Reaganmay have popularized it here for
(18:24):
us, but the old Russian proverbthat actually rhymes in Russian
.
Aaron Hoisington (18:28):
Yeah, there you go.
I'm going to have to learn howto say that in Russian.
Yeah, we'll drop that on thenext podcast.
Ryan Nelson (18:34):
Yeah, so real quick themes urgency that's a huge
red flag.
Always try to verifyindependently.
So hang quick themes urgencythat's a huge red flag.
Always try to verifyindependently.
So hang up, close out the email, take a second, go straight to
the source.
So go and walk into the bankbranch or go to the website or
call the phone number.
And then another thing just tohelp protect you is use
multi-factor authentication andstuff whenever possible Helps
(18:56):
avoid anybody being able to getinto your accounts.
So those would be a couple, youknow, kind of three quick
hitters to help avoid scams.
Aaron Hoisington (19:03):
No, that's great man.
I really appreciate theinformation.
Hopefully, everybody can takedefinitely something from this
one, because scams are out thereand you mentioned the elderly
and, just like you would assumethat, hey, your parents maybe
know your voice or whatever itis.
But making sure that, like hey,like, if this happens, like
maybe coming up with a safe wordor something like hey, it's
actually me or you knowsomething along those lines to
(19:25):
where, as people get older,they'd be potentially come more
vulnerable in that regard, andensuring that everybody is set
up for the best success possible.
But, um, yeah, they're outthere.
Make sure that, uh, you guys,uh, you guys, uh, take that.
Tax season is upon us.
Actually, it's already passedat this point.
So if you get any calls at thispoint from the IRS, like Ryan
said, they're not up to speed.
(19:45):
They're not going to be callingAaron Hoisington to collect his
back taxes.
Awesome, thanks so much, ryan.
Appreciate the insight.
We'll be back on the other sideof this with the personal
section.
Everybody hang tight, awesome.
Speaker 1 (19:59):
And now to put the personal in personal finance.
Aaron Hoisington (20:06):
All right, ryan, we are back here and with
the other side of the physicalpodcast, I actually really am
curious about this answer fromyou here, and I think I had to
put some parameters on itbecause I think that you'd poke
some might still poke some holesin it, but we'll see.
And so this one I want to poseto the listeners as well too,
(20:27):
just because it's always kind offun to daydream about this.
So if you were given a milliondollars, a million dollars goes
into your bank account, tax-free.
You've got a million dollarshere, but the only catch is you
have to spend it within 24 hours.
So, side note, you can't investit, you can't just put it into
the bank account, can't give itto Alchemy Wealth Management,
(20:47):
anything like that, you justhave to spend it in 24 hours.
What are you, ryan Nelson,doing with that money?
Honestly, it's hard as I thinkabout that there's not a lot of
things that you can.
That's a lot of money to spendin a single day.
Ryan Nelson (21:02):
It's like that's a lot of clothes, that's a lot of
food, that's a lot of likerounds of golf, a lot of movies
to watch, like um.
It's actually hard to think ofsomething you could actually
spend all of that on Um.
So I was thinking, like youcould drop it on a house.
You could go buy a really nicehouse.
That's sort of an investment.
I mean, it's an appreciatingasset.
So I don't know if that'sallowed or not, especially if
you bought it.
(21:25):
Booking prearranged travelcould also be something cool,
but even that it's like you know.
If each trip is like you know,you go book some flight like you
know, 2,500 bucks here, 2,500bucks there, like that's a lot
of travel right.
And you know flights you can'teven book more than nine months
out and stuff.
So I was like I don't even knowhow you could.
Um, it would be prettychallenging.
(21:46):
Like you'd have to have a bigticket item like even buying
boats like you would have to.
You could spend it all on oneboat.
You could go buy one reallynice boat, um, but if you bought
, like reasonable boats, that'seven a lot of boats.
Speaker 1 (21:57):
You know a lot of vehicles.
Ryan Nelson (21:59):
Again, it's one of those things.
You could buy it on one vehicle, yeah, right, yeah.
Or or you could buy you know, alot of really nice vehicles.
So, um, yeah, I don't know.
It would actually besurprisingly, probably
challenging to spend thatmillion dollars in a single 24
hour window.
Now you give me a week.
Speaker 1 (22:13):
Yeah, yeah easy.
Ryan Nelson (22:15):
Gone, Gone so yeah, I don't know what are your
thoughts.
How would you.
Aaron Hoisington (22:20):
You got an idea, kind of.
I suppose.
I mean, the 24-hour parameterreally makes it tough.
Because you're like, okay.
Because immediately I was likeoh yeah, I book all this travel.
And I was like, probably themost expensive vacation that I'd
even planned, like if I gospend two weeks in Europe or
something like that, I may bespending 20, 30 grand, and
(22:40):
that's nice, I'd be bookingfirst class, all these different
things.
Honestly, I'm like that's justa drop in the bucket.
For a million dollars too.
You're like wait a minute here,what am I going to do?
So I think about I definitelyI'd probably buy a couple of new
vehicles, depreciating assetsthat, in mind, pay off the house
(23:02):
.
And you're just like okay,these are all responsible things
, but I'd probably buy some landsomewhere.
Ryan Nelson (23:07):
Nice.
Aaron Hoisington (23:08):
I think a nice piece of a big area property
out in, maybe somewhere an hour,a couple hours outside of Reno,
to where I could go andeventually maybe build a house
or something there or just goand have this spot where you
have.
I think that'd be great, butthen again I'd be like, all
right, cool, I spent like 500grand.
Now, what am I going to do withthe rest of this?
Ryan Nelson (23:29):
Yeah, I was going to say you can buy a lot of land
.
I think we like rural areas ofjust pure raw land.
It's a lot of land too.
Aaron Hoisington (23:36):
It is.
So it really was morechallenging than I thought, and
so I was like, cool, I'll payoff like all my debts, and I'm
like, huh, well, I probablymaybe like hire like a personal
chef for you.
I don't know like these certainthings that you kind of just
start to go, but obviously thesmart thing to do invest it
naturally.
Ryan Nelson (23:53):
Yeah, it's one of those things where, like a
million dollars isn't that muchmoney, Like it would be hard to
spend a million dollars in ayear I mean in a day but also a
million dollars would be likenot enough to retire anymore
Right so it's like one of thosethings.
It's like, yeah, it can be alarge sum of money, but like
it's all about context.
And yeah, it could be a largesum of money, but also, at the
(24:15):
same time, it's like not thatmuch but also at the same time
it's like not that much, yeah,awesome.
Aaron Hoisington (24:19):
Well, I appreciate you sharing, ryan.
Hopefully that sparked someinterest for our listeners.
If nothing else, got youthinking about a million dollars
showing up tomorrow in yourbank account.
And so we'll go ahead and endthis episode here, and, ryan,
I'll let you finish us off hereman, as always, stay the course.
Speaker 1 (24:34):
Thank you for joining us for the Fiscal Physical
Podcast.
Until next time, happylistening and, as always, stay
the course.
If you have a question or topicsuggestions, please email us at
podcast at alchemywealthcom.
If you enjoyed today'sdiscussion, subscribe to the
(24:56):
podcast to ensure you never missan episode and consider leaving
us a rating and review on yourfavorite platform.
This helps other listeners likeyou find the show.
For more resources, you canvisit Alchemy Wealth
Management's website atwwwalchemywealthcom or find your
fiscal physical the book onAmazon.
We'd be remiss if we didn'tmention that personal finance is
(25:16):
just that personal.
Please don't take anything wesay as advice.
The preceding content is forinformational and entertainment
purposes only.
It's not an offer or asolicitation, nor should it be
construed or relied upon for tax, legal or investment advice.
It doesn't consider yourpersonal financial situation or
objectives and may not besuitable for you.
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