- How Not to Get Scammed Out of Money
- How Not to Get Scammed… Continued
2. How many people do you know right now that are truly financially independent from giving their money to somebody else? Humans are greedy and lazy by nature and we will always opt where available for the easy way out. It seems easier to give our money to someone else in the hope of a quick buck (that rarely eventuates) than to learn an investment skill ourselves so we can be in complete control. This is exactly what happened in 2008 and the early part of 2009 through the global financial crisis. People who were not in control lost the most, people who were not educated about the financial markets lost the most, people who gave their money to someone else, lost the most. Those of us who are educated only lost a little.
The only way to create long term financial success is to grab a shovel and start to dig for yourself rather than watching someone else try and dig the gold for you. Brokers, institutions, banks and financial advisors interests are likely always going to come before yours. Nobody will look after your money better and see it grow larger than you if you know how to invest professionally. Money makes the world go round and there is a lot of it to grab if you educate yourself, ask the right questions and are diligent and direct about your approach to financial investing. Be in control, know the risks, if you don’t know everything about the stock, option, future, currency or bond trade that you are about to make and have absolute control of when you are going to exit for profit or loss, don’t enter the trade.
You must be in total control and you must never over leverage.
If you wake up in the middle of the night and are ever nervous, anxious or worried sick about a trade or investment, then you are most likely over your head. Sell it and get out, peace of mind and happiness is far more important than growing old living in hope with a life of financial stress.
Learning to invest yourself is not only financially beneficial long term, it is also a heck of a lot of fun when you are with the right people and then has never been a better time in history to educate yourself about financial returns and the markets, particularly foreign currency.