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b'The investment industry is going through consolidation that will lead to fewer players. Weakened mutual fund companies, stock brokerages and investment houses are merging. A small number of huge players will emerge. All this has come about because of the enormous strength of the big 3 discounters. Vanguard, Fidelity and Schwab have essentially demolished the competition. Traditionally, investors paid massive fees to bank investment arms or full commission stock brokers. Some still do but the movement is to lower costs. Full commission outfit Morgan Stanley is buying discounter E*Trade, ostensibly to sell E*Trade customers on their products. It\\u2019s important to know what you\\u2019re buying with any organization you invest with. Understand what you\\u2019re getting and what you\\u2019re paying.\\n\\nThe FTC warns the phony check scam is roaring back, now successfully targeting young adults \\u2013 those in their 20s and 30s who have never been check writers. They\\u2019re less likely to suspect a check is bogus, especially if it clears. In addition to elder loved ones, make sure the young adults in your life know that if they get a UFO check with instructions to deposit, keep part of the money and do something else with the rest, they\\u2019re about to get scammed big time. The check that cleared will usually bounce in 4 to 6 weeks, and they\\u2019re liable for all that money.\\xa0\\xa0\\xa0\\n\\nRight now there are various disasters associated with trading in a car. Simple rule: DON\\u2019T trade in a car that is not paid off. Around 30 \\u2013 40% of people are dumping cars they\\u2019re upside down in. Danger zone. There are dishonest car dealers that know they can\\u2019t get a loan to cover an upside down trade, so they\\u2019ll encourage the customer to buy a new car with a fresh loan, and just default on the vehicle they wanted to trade in, and turn it in to the lender.\\xa0In the auto industry, this is called \\u2018kicking the trade\\u2019. These dealers are NOT telling people that allowing a repossession will ruin their credit for 7 years. The lender sells the vehicle at auction, and in most states you\\u2019re liable for the difference between what it sold for and your balance plus expenses. You no longer have the vehicle, your credit is ruined and you\\u2019re responsible for all the money the lender lost. This eats up your future. If you hate your car and owe on it, tough it out, keep driving it and pay off that loan. Get out of the cycle of owing more on vehicles than what they\\u2019re worth. Long loans leave you upside down, and paying way too much interest.\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'