BOSTON -- The scandal involving disgraced investment guru Bernard Madoff is a rude reminder that, essentially, you can't trust anyone with your money without certain safeguards.

While this situation is unique, there are five things you should always think about before investing significant sums of money.

First, know the people handling your money. Madoff's clients knew and trusted him, and in that specific case, NewsCenter 5's Susan Wornick said she's not sure what else they could have done to protect themselves. But generally, it is crucial to check references.

Second, know the details. When someone proposes an investment, get everything in writing. If they won't offer a prospectus -- as it's been reported Madoff wouldn't in some circumstances -- run the other way. Wornick said she doesn't care who they are or how good it sounds.

Third, read the deal. Don't treat it like your car manual that goes in a drawer. Read every word and even consult an adviser with any questions. A lawyer should make sure you're protected.

Fourth, don't be afraid to ask questions. If you can't get answers, Wornick said all the alarms should go off.

Finally, get insurance. If you want to be certain you won't lose a dime, put your money only where there is FDIC protection.

Wornick believes we're going to be hearing stories about Madoff for a long time. It appears his scheme was masterful, but there are many less ingenious players searching for trusting souls to rip off. Don't ever gamble with money you can't afford to lose.