Well, well, well, it’s already Wednesday, the middle of the week, the time when everybody starts thinking about the weekend (as if they haven’t been doing so since the last weekend). It’s also a good time to cover one of those unfortunate, but necessary, topics: avoiding scams and the scammers who would like nothing better than to take your money. I’m not going to be able to cover all the types of scams out there, as that number clocks into the millions (and even more sadly, increases all the time), but these few general tips should help you to avoid most of the scams that are out there:
1. Don’t Put All Your Money In One Investment or Firm: If you find a highly successful investment, it’s tempting to put ever increasing amounts of money into said investment. After all, why keep your money where you are earning a paltry return when you could be earning a much higher level of income with one sweet investment? Well, one reason is because that sweet investment might not be all that it’s cracked up to be (ask anyone who invested with Bernie Madoff). By keeping your investment money in a variety of investments at different companies, you can prevent a scam (or even a more common occurrence, like poorer than expected investment returns) from derailing your monetary plans.
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