4) Risky Investments and Get-Rich-Quick Schemes
There are always millions of high-risk investments that won’t pan out in the end. Some are plans to launch a new business or provide seed money for an invention or high-tech innovation. Others involve buying foreclosures and flipping them for a quick profit. There are franchise opportunities, investments in gold and silver, and friends and coworkers who may ask you to invest in some venture they know about that promises big returns. The tragic fact is that many of these plans wind up costing people huge amounts of money. Some lose their entire life savings. If it seems like easy money, beware. Be skeptical and do some research. Consult experts such as a financial planner or attorney before you invest.
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