We all receive solicitations – on the phone, over the internet, and through the mail – for “can’t miss” financial opportunities.
It may be an interest rate way above current market rates, or a chance to invest in oil wells or currency speculation, all at no risk.
Don’t fall victim. There is no such thing as a “risk-free” investment.
We’ve all heard the saying “If it’s too good to be true, it is.” Unfortunately, many of us treat that advice as a cliché that doesn’t deserve the respect it should receive.
I recognize that con men -- and women -- can be very persuasive and confidence-inspiring. If they’re not, they’ll be forced to take up a different line of thievery.
So, if you receive a pitch that sounds “too good”, make yourself stop and think. Tell the phone solicitor you want to think it over -- put aside that letter -- don’t reply to that E-mail. If the next day you’re still unsure, call your attorney, accountant or best friend for a second opinion. Chances are that you’ll make a wise decision then.
If you still have the urge to try and strike it rich, go buy a lottery ticket. Your chances of succeeding won’t be much greater but the ticket should cost a whole lot less that falling for a scam.
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