Wednesday Wealth: 5 Get-Rich-Quick Scams To Avoid

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This week AbangAbu want to share something important to know during recession period. As many are getting retrenchment benefit and may want to invest or find ways to invest.

As a guide AbangAbu want to share somethings that i believe good to avoid from investing in. And i always believe in getting the knowledge before investing. I recommend MAP2BRICH e coaching is something that you might want to get as one year online coaching on money.

So what are the those . read this article

With the Internet becoming our most universal media, the abundance of get-rich-quick schemes tends to increase every day. We live in such a wealth-driven society, it is no wonder people are drawn into the promises of the get-rich-quick idea. A good rule of thumb is to remember that if something seems too good to be true, it more than likely is. Staying practical and level-headed while trying to find ways to supplement your income will help you stay protected against Internet frauds and fake seminars promising instant fortune. Below is a list of the five most common get-rich-quick scams to reference when you aren’t sure if you should trust what you are reading online.

1. Pyramid Schemes: The Original Get-Rich-Quick Idea
While it may be a stretch to say it’s truly the “original,” it does seem as if pyramid schemes have been around forever. Making its debut in the form of a chain letter, a pyramid scheme is when a person partakes in a selling model with no guarantee of compensation. More commonly, people are “guaranteed” a certain amount of income when they spread the scheme’s idea to others. Tell ten friends and receive a bonus. Mail in a one-time fee to a dot com’s address, and watch the profits flow in. Do statements such as these sound familiar? Many of us have repeatedly seen them on Internet banner ads and pop-ups. While most know to ignore such advertisements, unfortunately many do fall prey to pyramid schemes each year.

Stay-at-home moms tend to be the largest demographic buying into pyramid schemes, as they love the idea of being able to help beef up the family income while working from home. The idea of being paid only by an earned “commission” does not often cross the mind of a mom as a scam, as she is distracted by dozens of other things and many of these sites include “testimonials” of other homemakers who are now apparently living in a beach house in Bermuda with their earnings.

A derivative of pyramid schemes known as multilevel marketing is another one targeted at home-based women. While reputable companies such as Avon and Party Lite can be a lucrative side business, the false hopes come in the form of a commission promise when workers convince friends and associates to join and start their own endeavor as well.

Protect yourself from get-rich-quick schemes such as these by only accepting work from home jobs that guarantee a base income. If they only want to pay you off of ad revenue or commission, follow your intuition. Many people know in their hearts when an organization is illegitimate; however, the concept of get-rich-quick money is tempting for anyone.

Wait for the 2nd one tomorrow.

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