Tip Of The Day: Investigate Before Investing Money

The news has been full of reports of Ponzi schemes in recent months as the economy has crumbled which has left many investories worried about falling victim to similar schemes

Before investing your money into the next "can't lose" deal, get a second opinion, maybe even a third opinion. Talk to your accountant, your attorney, your stockbroker, bounce it off of them first. Even talking to family and friends can help.

Don't be pressured into doing something before you've thought things through. A good investment will still be there tomorrow and remember if it sounds too good to be true, it probably is.

Never make out a check addressed to a private citizen. You should always sign it to a third party organization.

Make sure you understand and receive a copy of the investment that includes the terms and conditions of the transaction.

Make sure the person doing the investment is licensed to do so. A legitimate broker will be registered in good standing with FINRA, The Financial Industry Regulatory Authority. If they aren't, you should really re-think whether you want them handling your money.