Get rich quick? or go bust
July 29, 2008 by moneypenny
Filed under Finance
The problem has always been, who do you trust for financial advice? If you have a broker or financial advisor, or you have experience in trading stocks for your own portfolio, then the answer is easy. Yet many people don’t have access to this level of expertise, or refuse to pay for it. Many of these people fall into the traps that are laid online to get them into hyips, fake currencies trading, and other high risk get-rich-quick schemes that hide under the label of investments.
Most of these are not what they seem, and nearly all of them use the label Simple
Is it so simple? Do you know what a fair return is , and what time scale it will take to achieve this return without exposing yourself to uneccessary risk? If you answered yes, then you are in the minority.
Dont be fooled, each day here on DMW we hear of people who’ve fallen victim to another scheme.
After this week when DMW retires, I’ll be blogging on this subject on www.wisequeen.com
So direct your questions or comments there.
Moneypenny
If anyone knew how to beat the markets simply, what is their motivation for sharing? If they were motivated by profits it would behoove them to keep their simple strategies to themselves!
There is seldom a simple and easy formula to follow when attempting to find a dependable stream of revenue.
It is difficult for me to fathom how people try to lure others into a “get rich quick” scheme by dissembling motives or by engaging in outright deception.
Your mission to highlight possible schemes is commendable and will help individuals to avoid financial loss and emotional heartache.
Best Regards,
Andy Lax