How to Avoid Investment Scams
Not only millions of pesos lost, but lives are destroyed because of investment scams.
Children have to stop school, retirement put on hold, peace of mind lost, and some commit suicide. These are the consequences that victims of investment scams have to face. Filipinos seem to forget the mistakes of the past and fall for the same trap of a “high return in a short span of time” investment. It may be too good to be true, but a promise of a brighter future is an offer they cannot refuse.
We cannot undo what has happened. The only thing we can do is to learn from our mistakes and the mistakes of others. We always remind everyone to never invest in something that you do not understand. Discover the questions you need to ASK to know if an investment being offered to you is legitimate or not.
4 Questions You Need to Ask
1. What is the background of the company?
Do your research. Know who runs the company and how they operate. Utilize the internet to check if someone has already been fooled by the company or its operators. If the scheme seems similar to a previous scam, do not second guess. STAY AWAY.
2. How much do I invest and how much will I get?
If it promises a huge return over a short period of time, THINK TWICE. It’s either a scam or something illegal. If it is too good to be true – you are probably right.
3. When will I get it?
If an investment promises to make you rich in days or a few months, be DOUBTFUL.Unless you win the lottery, there is no investment that can guarantee to make you rich instantly. Beware of the word GUARANTEE.
4. How will I earn?
Lastly, you should know how they will use your hard earned money. If you do not understand the business and they cannot explain it clearly, AVOID them completely.
Always use good judgement when deciding about the things that will affect your future. Do not let testimonials from your family, friends or any influential person convince you to invest.