The price of gold has gone way up along with gas and everything else and that’s prompting all kinds of claims about investment schemes that will supposedly make you rich.
State Insurance Commissioner Susan Voss says you should always take a good close look at any investment. Voss says you should first talk with a financial advisor if you have one, or an attorney, and then if you still think you want to invest, give her office a call.
Voss says the Insurance Division can help you do more background checking. They can look and see if there’s any regulatory actions against a group, if they are licensed in the state, have they had problems in other states.
She says the last couple of instances her offices has investigated involved people investing in silver and gold and sending money out of state to someone they knew nothing about.
Voss says investing a little time in visiting with her office could save you money. They don’t advise people on where to put their money, but can certainly advise you on where you shouldn’t invest.
Voss says people are looking to earn extra money anywhere they can in the current economic climate, but she says there aren’t any get rich quick plans out there. Voss cites the old saying that, "If it’s too good to be true, it probably is."
Voss says a little time researching investments can probably save you a whole lot of heartache down the road. You can call the Iowa Insurance Division toll free at 877-955-1212 or visit the division on the website at www.iid.state.ia.us .