umarsaeed

Posts Tagged ‘scam’

Survival of the Fittest

In Advice, Financial on November 25, 2014 at 3:28 PM

An oldie but a goodie originally printed in CA Magazine. If you’re looking for a Registered Education Savings Plan for your children, here’s everything you need to know.

Modern Day “Salami Slicing”

In Financial, Fresh on April 1, 2014 at 3:13 PM

My first introduction to “salami slicing” was in Superman 3. Richard Pryor, who played a quirky computer hacker that worked in the processing department of a bank, discovered that there were millions of transactions happening at the bank each day and that all of them required the bank to round amounts to the nearest penny. By accumulating these rounding increments into his own bank account, he became rich. Apparently, Wall Street has a similar scam and is doing this to all of us every day. 60 Minutes has a must-watch piece if you’re interested in how they skim money from your investments.

Read the rest of this entry »