Those damned investment sharks

I'm willing to admit I'm no investment-expert; Sure, I know a huge amount about the industry I've worked in for 17 years - Often a vehicle for investors in which to gain wealth, [property industry], however still don't profess to be an expert...Plenty do though, and unfortunately many investors get lead into investments that might not offer the returns initially expected, or any at all!

It's the same with any investment opportunity - Precious metals, gems, stocks, crypto, stamps, rare coins, artwork, bonds...Anything at all - Some will pitch themselves as experts whether they are or not. Often these experts take advantage of investors' naivety, or lack of thorough due-diligence, for their own gain and at the investors' loss.

One doesn't need to dig too deeply to find many examples of such dodgy property deals, pyramid/ponzi schemes and sad tales of investor-woe; In many of these cases the questionable expert sails off into the sunset on a power-launch paid for by the unfortunate investors. [The antics of Jordan Belfort is a good example here - Although he was eventually caught out.]

Back in ye olden days these unscrupulous experts didn't have as great a reach as they do now, however confidence-tricksters certainly still existed. The advent of radio, television and telephones helped these characters to reach a greater market; The interwebs, plus societies thirst for more more more, has also combined making it much easier for these unscrupulous types to reach more potential victims - And to keep the regulators at arms-length.

Barely a day goes by in which I don't receive a text, call or email from a scammer and their techniques are becoming more and more difficult to see through - I would imagine for a tech-novice-older-person it is almost impossible. Unfortunately it's often the older people who suffer the most - They seem to be softer targets and who better to target than someone who has a lifetime of savings set aside?

All one can do is ask more questions, involve trusted advisors and be vigilant. It won't guarantee everything will work out for the best, but it sets one's feet upon a more secure path. This is true across any investment segment and there's nothing like thorough research. The a little more research and subsequently after that some additional research.

I'm not sure if there's a completely safe investment - It's all risky and there's rarely a certainty of an acceptable return. Over the years I've learned that if it sounds too good to be true - It probably is, and to perform a lot of due diligence and research. I do this for my clients, and within my own personal life also.

I also involve people I have known for a long time, accountant and lawyer, when it comes to something I don't understand well; In the property market I can generally take care of myself however I diversify quite broadly and my advisors have thrown light on possibilities I maybe hadn't considered. It's always money well spent when I meet with either of them. Yes, it costs money, but a little well-placed consultants-fees could save an investor a lot of money moving forward.

In my experience the only legit investment shark is the one ounce Great White Shark silver coin in this image. I paid more for it than I would have paid for a standard coin, but it's certainly not going to fleece me or run away with my life-savings - Who knows, it might someday be worth more than I paid? I bought it because it looked cool and whilst I probably should have made a better investment-choice the enjoyment factor I get from this coin rewards me in other ways.

Design and create your ideal life, don't live it by default

Discord: @galenkp#9209 🇦🇺