When we envision the type of person who falls for a financial scam, there are usually a few key characteristics that come to mind:They may be elderly, using a landline phone, or in a state of panic as the person on the other end of the line informs them that if they don’t hand over $10,000 immediately, they’ll be arrested. But those stereotypes are just plain wrong. 

Charlotte Cowles, the Cut’s financial advice columnist and a longtime freelance business columnist for The New York Times, fell for an elaborate new scam that involved Amazon, the FTC, threatening her child, and handing a box with $50,000 in cash through the window of the backseat of a car.

In Mailbag, we hear from a listener who’s wondering what the difference is between an hourly financial advisor and one that charges a flat fee. We also address how to shop around for title insurance when you're buying a home. In our news of the week, we talk about the big changes coming to the commissions we pay when we buy and sell homes, what the producer price index (or PPI) coming in hotter than expected means, and a new study about how Americans are feeling about their finances.

Takeaways:

Chapters:

00:00 News You Can Use

6:43 Charlotte's experience

12:15 Psychological tactics used by scammers

28:32 Red flags to look out for if you think you’re being scammed

32:43 Mailbag with Julia Chatzky

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