RULE 71: Trust Nobody Who Promises You Quick Riches

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YES! International Magazine Publisher, Dr. Azuh Arinze with wife

I don’t want you to be paranoid generally but it is OK to be paranoid when it comes to your money. There are a lot of sharks out there looking for easy pickings from the less awake amongst us. Watch out.

Jeremy Paxman, the UK broadcaster, always interviews politicians with a basic underlying assumption that they are hiding something and he has to find out what and why.
Obviously we don’t want to go round believing everybody is out to get us, but there is a good technique here that we can adopt to question anyone: 
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“If it waddles like a duck and quacks like a duck then it is a duck and don’t let anyone tell you it isn’t if it looks too good to be true it probably is not all that glitters is gold”. 

• Offering us a money-making proposition
• Offering to ‘look after’ our money
• Looking to invest in our future or schemes
• Offering us any financial advice
• Offering to work for us
• Offering us a partnership
• Offering us products or services.
You have to be suspicious of anyone and anything that could make inroads into your wealth. Be very wary of anybody who:
• Promises to help you get rich quick, by short-cuts, using tax loopholes or dubiously legal schemes
• Uses the word ‘offshore’
• Uses the letters MLM or pyramid selling
• Claims to be incredibly wealthy and is offering to share their secrets with you - the secret is they make their money out of people like you (see Rule 61)
• Offers to increase your wealth by using the Internet
• Asks for money up front to seed investment, pay for promotional material or carry out a survey.
And three things to always remember:
• If it waddles like a duck and quacks like a duck then it is a duck and don’t let anyone tell you it isn’t if it looks too good to be true it probably is not all that glitters is gold.

Remember also to keep asking ‘What’s in it for this person?’ Don’t trust anyone. Don’t give your money to anyone to look after for you. Check the small print of anything you sign. Be on your guard. 

From The Book; The Rules of Wealth by Richard Templar
(Read Rule 72 of Rule of Wealth tomorrow on Monday at Asabeafrika)


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