Have you ever heard the expression, "There's no such thing as a free lunch"? Clark gets advertisements for free lunch investing seminars all the time. They're typically billed as educational workshops and promise you that nothing is being sold. They have names like "wealth preservation seminars" or "income security planning sessions" and are usually operated out of well-known restaurants or fancy ballrooms.

For years, Clark has told you that these things are rip-offs -- based on what he's heard anecdotally. Today, he has some hard numbers to back up his belief.

The North American Securities Administrators Association recently did a study that showed 50% of these seminars are guilty of false or exaggerated advertising; 25% of them actually push products that are completely unsuitable for you; and 13% are engaged in out-and-out fraud.

That could be the most expensive free meal you'll ever eat -- if money saved over a lifetime gets taken from you!

If you need help planning your investments or retirement, Clark advises you to pay for that advice by hiring a fee-only financial planner. Visit NAPFA.org to find one near you. Or you can also seek in-house financial planning from Vanguard, Fidelity or T. Rowe Price for a nominal fee.