Dodgy “Get Rich Quick Schemes” & How They Suck You Dry

Just like myself, you have probably been bombarded by “Get Rich Quick Schemes”.

Be it those writers trying to sell a book, a shiester selling an overpriced seminar or even the blatant pyramid schemes that focus on you “Preying” on your friends to get them to sign-up so you can profit from them.

I actually got a call from a good friend of mine from Hobart today.  He is an amazing property investor and someone who has really set an example for me.  I actually met him in “Dodgy Course” in Sydney that was teaching these outdated “Passive Cashflow” Property strategies.

We got sucked into this dodgy course – but him and I certainly got out of it and learnt quickly that we were being manipulated by those promises of “Passive Cashflow” and just “All the money you can make”.

Now don’t get me wrong, I have many friends who are making excellent money from Property, Trading (i.e. Options, Forex and straight Shares) but all of them will tell you it took them years to get there and you really have to “Know what you are doing”.

But then you get these Shonky Operators that try to sell you courses that make all sort of unrealistic claims that in some cases are blatant lies.  Here are the “Buzzwords” that make my skin crawl:

“Financial Freedom”
“Passive Cashflow”
“Out of their old job within X Months”
“Almost no work required”
“No selling required”
“Easy, proven success formula”

What is interesting is that people selling courses can make some ridiculous claims whereas if you speak to people who actually have made it – they tell you another story.   My great trading coaches, Andrew Jeken, Jarratt Davis & Vic Noble have made it clear to me how hard it really is – but let’s say I type in “Forex Trading” into Google.  I get shonks telling me how “Easy” it is and I can get started “Immediately”.

Many unethical players out there prey on people’s lack of experience, or worse – their desperation to improve their current circumstances.  It’s very sad, but it’s great to see in Australia that advertising regulations are tightening to keep such people under control as much as possible.

I have been sucked into quite a few things, but here is what’s difficult:

Without getting sucked into the junk – there is no way I could have figured out what was good.

I know logically that this is a process I had to go through, but man I think back and think “Why did I do that?”, “Why was I so stupid?”.

Let’s hope Captain Karma teaches those shonks a lesson! 🙂