27 May 2015

Rags to Riches, Riches to Rags

The path to rapid riches end in tatters. It's been one article like that after another in the papers. Oil pods, gold scams, distressed properties both overseas and locally.

A pity to the many who found themselves in such shoes. Was it greed or ignorance? Neither is a good excuse.

Was just talking to a friend earlier. He had invested in some "gold" scheme and has not seen his money come back. It was a $5,000 write-off for him. At least it wasn't some epic major amount and he could live with the loss. But as he said, "can't afford to keep losing like this!"

Anything exotic and unusual could be an opportunity or a scam waiting to fall victim to. Between the gain versus the loss, are you able to withstand both? When stepping into the unknown, best not to commit what one can't afford to lose. It's also called risk management.

The Allure of Gold - Treachery of the Glitter

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