Have you considered investing but aren’t sure whether you should take the plunge? There have been plenty of stories of people who have become wealthy beyond their wildest dreams. Some invest in the right stock at the right time. People can become a millionaire from nothing. However, how can you know if it is the right stock at the right time? Consider questions such as how much risk you are willing to take. Ask yourself what kind of investment is most aligned with your personal values.
While we can’t guarantee that your investments will be an overnight success, this article will provide you with some worthwhile tips about investments that seem foolish on the surface but are profitable. Check out these ‘foolish’ investments that still make people rich according to Investopedia and Benzinga.
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30. A Financial Scheme
The idea of a financial scheme may sound scary on the surface. Yet the fact is that even putting your money into a savings account at the bank is a financial scheme. You are trusting somebody else with your money in good faith that the bank will use that money wisely to generate a return. Sometimes, banks don’t use people’s money wisely as we found out in the 2008 financial crisis.
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But the point here is that any time you put your money somewhere other than underneath your mattress, you are technically putting it into a financial scheme. A savings account earns interest because a bank uses that money to finance things, generating extra income for the bank. And other investments such as the stock market also earn interest, though usually in less predictable ways than a savings account at a bank.