It’s difficult to find detailed outline for how to avoid get rich quick scam schemes. On the contrary, internet is full of tips and ideas for you to get rick quickly.
In most of cases, you would loose money and time rather than earning any.
What is Get Rich Scam Schemes?
Get Rich Quick Scam Schemes are not only famous in this online world of 21st Century but it’s there from the time even before money has been invented by human being.
Get rich quick schemes are proposition of investment which looks very attractive at face value but it’s taking an advantage of the greed or situation of a person which may arise due to urgent need of money or earn very high rate of return on investments.
Social Engineering in Get Rich Scams
You must be thinking what’s social engineering?
It’s the “How” of all Get Rich Quick Schemes and online frauds as well. Social engineering is a strategy by which fraudster creates such an environment that the victim couldn’t take a rational decision and fall into the trap of financial black hole.
Fraudster plays with the emotions of victims and create some kind of urgency or now or never situation; where he/she losses the rationality to take right decision and sometimes greed as well make them fall into the trap.
Red Flag of Get Rich Quick Schemes
10X Your Money
Some decade ago, fraudster scheme were running on money to double the money in days or months but now they have taken a step ahead and promise you to 10X the money.
Don’t you think that if they would have such a secret sauce then they will never come to you for asking the money.
Resell and Earn More
The most famous get rich quick scheme is Ponzi Scheme, where investors are trapped by sharing how good the previous investors are doing or people at the higher ladder of scheme.
You can also earn more by reselling their scheme and become an addition to the chain of fraudsters.
Urgency To Pay
Get quick rich schemes are always expiring or they will always try to create a sense of urgency otherwise it will be too late or the returns will not be the same if you don’t do it now.
Always, take the decision of investment with patience and after understanding all terms and risk involved.
No Risk and High Return
Fraudsters will always try to pretend there is minimal or no risk in your investment, your money is always secure.
The basic of finance is “High risk and High return’ which means your complete money can be lost in black hole.
In some cases, you even can loose what you have not even put in the first place as investment.
FOMO to Invest
Fear of Missing Out (“FOMO”) is the reason in today’s world to convenience anyone to do anything or make hype-purchase. The same emotion is often used by fraudster to make you fall the trap of rich quick schemes.
It’s good to be stay updated on what’s going in market but it’s not necessary to take action.
Be Wealthy and Stop Trying to be Quickly Rich
To conclude on Get Rich Quick Schemes, the best way is to change the mentality about being rich. Being only rich is not self sufficient for long term, you have to become wealthy.
You can become wealthy only with the time and not quickly. Most of the winners, who become rich even in lotteries are never be able to become wealthy.
Plan your investments wisely and check with experts and play your game over the time, you will become wealthy.