A few weeks back, a friend of mine shared his experience with me. Someone brought an investment idea to him and the idea looked too good. He had already calculated his proposed gains from the investment, so he grabbed the idea. A few days after sinking in his money into the investment, the platform crashed and his hard-earned money went down the drain. From his experience, I drew out some lessons and I will like to share with you, maybe it will help someone.
First of all, you should not take someone's investment ideas on face value. Research yourself. A few days of research might save you from years of regrets. As part of your research, if it is an offline project that you want to invest in, pay visit to the place yourself, check out if it is worth the investment. A popular quote in this part of Nigeria says that:
If someone promises to give you a dress, you have to check the one that he is wearing to have an idea of the kind of dress he will give you.
For a project promising you millions on returns of investment, you have to check if they are worth it in the first place or they just need your money. If it is an online investment, you have to research too. Visit their website, read whitepapers, etc. If your instincts disagree with any part of it, then you need to take a break because most times, our instincts are true.
Note this: If it is too good to be true, then there are chances that it may not be true. Imagine an investment platform promising to give you 100% return on investment after two months, they only want to prey on your greed. I mean, how easy will it be to have such an amount of ROI in such small timeframe?
You also need to separate your emotions from investment. The person bringing the idea may be your friend or even a family member but this should not becloud your sense of reasoning. They may want to work on your emotions to make you do what you normally would not have done, so you should learn when to separate your emotions.
If you are unsure of the investment, you can confer with a third-party that is knowledgeable in that aspect to help you with their expertise. Do not hastily rush into investing without adequate information. Take your time. The truth is, any investment opportunity that will be pressuring you to act fast may have some have shady deals.
Remember, one wrong investment can crash what you have worked so long for, so try as much as you can to research well before letting in your money.
Thanks for reading
Hi @samminator
Studying well what you are going to do, all the nuances is a necessary part of any investment process. And yet there is always a minimum of risks in these.
That's right, I agree with you buddy. Thanks a lot for dropping by buddy @josevas217
Hi @samminator, Investigating and carefully analyzing the situation before making an investment decreases the risks of failure. We all want to be successful in decision making and taking these recommendations into account is helpful.
Thanks for sharing this information.
Regards
Thanks for this nice comment buddy. Yes, the risk of failure is minimized when someone does extensive research before investing.
Unfortunately this is one of the most recurrent problems on the Internet, since pages and even supposed beneficiaries are invented to defraud the greedy and also the novices. It is unmentionable the number of pages that offer to reproduce you money at stratospheric levels that with a simple cold deduction you can discover their falsity. There are even those that you don't have to invest money but time to get this last one offering simple jobs that hide unhealthy actions such as taking your email to try to hack it or to place it as a reference, not to mention the identity theft so common in this lawless virtual world. Personally I have a conviction, everything that means pyramid businesses are scams and if there is one that is not then excuse me but they are one in a million.
I think I agree with you here. Most of these investment platforms start as pyramid schemes or ponzi and end up defrauding the gullible. This is why we should be in-depth in our research. Thanks buddy
I love the last part, do not rush into business, gradually make research before you divert into it.
That's the idea. Take your take and perform in-depth survey and research about the investment. Thanks buddy
Investment should never be jumped into it needs to be properly understood which means studies must be done in order to understand what type of investment we want to dive into.
That's the truth. One should be able to do extensive studies and research before considering an investment opportunity. Thanks buddy
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STOPCheck out the last post from @hivebuzz:
Hello friend, excellent advice, certainly we must take care of our capital, today there are many people who want to take advantage of our innocence or greed, on the internet there are many scammers and the saddest thing is that people think they will become rich overnight. Everyone's wish, but unfortunately things are not so easy. Greetings!
Greetings friend, no doubt sometimes the greed to get quick and easy money can make us make many mistakes when it comes to investments. Your advice is good, it is necessary to make a thorough research on the platform or business where you will place your money, taking into account that you will invest what you are willing to lose, because any type of investment can mean a risk.
See you later, have a great week !
@tipu curate
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Thanks buddy