RIP-OFF ALERT: In times of economic uncertainty, you're more likely to be taken in investment scams. With CDs, treasuries and stocks all hurting, people are desperately searching for a safe and profitable place to stash their money. Even Schwab is being sued over its YieldPlus Fund…and that's a legitimate company that made an honest mistake.

In a separate instance, The Los Angeles Times recently reported on a duo selling private investments in public equities (PIPEs) with the promise of returns of about 40% a year! The duo stands accused of conning more than $40 million out of everyone from retirees to sophisticated investors. One of alleged cons bought 2 multi-million dollar homes in Nevada, jewelry, clothing, cars and more. People trusted them and they were able to exploit that trust.

Meanwhile, Clark was recently approached by someone at the studio asking him about foreign CDs promising a "guaranteed" return of 18% a year. Anyone promising a number beyond 4% or 5% annually for a "safe" investment is suspect. "Safe returns" and "decent returns" are mutually exclusive. People just have to get used to the idea that right now you can't keep up with inflation. For long-term investors, Clark's advice is to get past your fear of the stock market and diversify your portfolio -- that's the key to creating wealth in the long run.