Some investments are excellent, and you will make a steady return for the next fifty years until you can retire and use the gains to have a nice life. However, not every investment out there is anything like that, and some of these scams can be so incredibly convincing that you would have no idea that it would even be a scam; fraud has become talented at taking the scammy feel away from a situation and turning it into something that seems legitimate, reasonable, and completely worth investing in – the only issue is, unfortunately, that if you invest in something like this, chances are you are going to lose everything you have. Learning to recognize the signs of fraud is important wisdom for protecting yourself.
High Returns that Seem Unreasonable
Some returns are are normal, and you can expect something around 6-10% on a high risk account in the stock market every year. With safer accounts, 2-5% is completely normal, and less than one percent should be expected for savings accounts. However, anything really much above that is often very much a scam. Honestly, very few people want to turn down 50% returns because it looks just so big and enticing, and investors can be enticed into a program with just a few facts about something because of incredibly high returns with little to no risk.
Reconsider this decision; usually, there's no truth in it, and when there is, it's complicated to maintain and you often lose your entire investment.
Special Information has Been Acquired
When looking for investment websites, you often see things like “the secret that investment companies didn't want you to know about” or something that has to do with insider information. Scam artists often say something about inside connections, or that they know someone who knows someone that knows something that no one else knows. The thing is, no one really tells you where this information came from in the first place, and when it's inquired about, it's not usually said then, either.
Even when they do answer and say something like “accredited company” or “certificated professional”, it could really be absolutely anyone, because these terms are legitimate – and also, the claim that they actually have information that you don't may also be true, because someone who doesn't usually invest may not have access to quite a bit of information. But once the scam continues into something like “I can help you with this information by having you invest in this idea,” then you can be pretty sure you'll never see your money again – even if you want this kind of story to be true.
Sounds Like They May Be Hiding Something
This may seem obvious, but when you're talking to someone about investing in their idea or company, and they aren't forward with information, it's unlikely they can help you. They should be able to tell you everything you want to know about their program, and there shouldn't be any secret “trading strategies” or “investment products”. A professional at a company that is expert in investing would be completely straight forward with you and would be able to answer all of your questions, so any investment company should be the same.
Don't find out something is a scam until it's too late; check out the legitimacy of any website thoroughly on the internet before you take any leaps towards giving anyone any substantial amount of money. When you do find something you like, make sure you get the promise, guarantee, and all information told to you about the project – so if you do get scammed, you have a recourse to resecure your money.
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Author Bio:
Elizabeth Roque is an in-house writer for FranklinDebtRelief.com. She presents information about debt relief services, credit card debt relief and getting out of debt on a variety of financial sites online.
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