Red Flag Finance Scams on the Big, Scary Internet | Rachael Camp - E85

Jesse starts by sharing two of his blog posts in today’s monologue. 

The first post, “The Answers are Here, But…”, expands on William Gibson’s quote, “The future is already here. It’s just not evenly distributed, yet.” Jesse draws a connection between Gibson’s quote and the distribution of financial literacy, explaining that The Best Interest is part of the distribution effort. Of course, there are those who distribute bad, or even dangerous information, leading into the second half of the monologue, “How to Avoid Frauds and Ponzi Schemes”. Jesse offers 3 ways we can avoid being taken for a ride. 

Today’s guest, Rachael Camp, is a Certified Financial Planner (CFP) specializing in helping solo business owners, offering services with her own business, Camp Wealth, and educating people through YouTube, her blog, social media, and more. 

Their discussion centers around recognizing scams and debunking myths circulated on social media, calling out fearmongers, and offering helpful insight into the financial tools available to solopreneurs. 

Importantly, Rachael notes what an LLC is, why an entrepreneur may - or may not - want to register one, and who they should consult before making that decision. 

Key Takeaways:

• How to find the answers you’re looking for.

• Keeping a lookout for scams - and finding people who’ll help you watch!

• Social media and the myths perpetuated thereon.

• What is a stock option?

• What is a solopreneur? And what financial tools are at their disposal?

• Should you register as a corporation? What kind?

Key Timestamps:

(01:20) Jesse’s Monologue: The Answers Are Out There

(06:47) Avoiding Financial Frauds and Ponzi Schemes

(21:41) Introducing Rachel Camp: Solopreneur Wealth Builder

(23:11) Debunking Financial Myths with Rachel Camp

(30:30) The Reality of Social Media Investment Strategies

(31:17) Understanding Options: A Primer

(33:52 Exploring Options Trading Strategies

(36:54) Critiquing Robert Kiyosaki's Financial Advice

(43:50) The Rise of Solopreneurs

(46:31) Business Structures and Tax Considerations

(51:04) Debunking Tax Hacks and Financial Myths

(54:39) The Importance of Financial Literacy and Caution

(1:00:41) Conclusion and Final Thoughts

Key Topics Discussed:

The Best Interest, Jesse Cramer, Rochester New York, financial planner, financial advisor, wealth management, retirement planning, tax planning, personal finance, solopreneurs, LLCs, business structures, incorporation, Robert Kiyosaki

Mentions:

Website: https://www.rachaelcampwealth.com/ 

LinkedIn: https://www.linkedin.com/in/camprachael/ 

Mentions: 

https://bestinterest.blog/the-answers-are-here-but/ 

https://awealthofcommonsense.com/2023/06/the-evolution-of-financial-advice/ 

https://bestinterest.blog/how-to-avoid-frauds-and-ponzi-schemes/ 

https://x.com/camp_wealth 

https://www.youtube.com/@CampWealth/videos 

More of The Best Interest:

Check out the Best Interest Blog at bestinterest.blog

Contact me at jesse@bestinterest.blog

The Best Interest Podcast is a personal podcast meant for educational and entertainment. It should not be taken as financial advice, and is not prescriptive of your financial situation.