This Don’t Count As An Investment! June 26
I was passing through a shopping mall today when someone approached me with an investment idea. Normally I don’t stop for such 5 minutes on your feet talk but today, I have some extra time and I let the lady talk.
In less than a minutes, it turns out to be no investment idea at all. Apparently, people will call anything an investment to get you to join them. An anything that even has a hint of possibly potential income is touted as an investment. I highlight the phrase possibly potential inceome. Truth is, what the nice lady tried to sell me was nothing more than multi level marketing. They ask people to “invest” i.e. become a member, buy their products and get others to join. I don’t have anything against MLMs. But to frame the idea that what you are purchasing is actually an investment is hogwash.
I guess, to build a business, you invest your time, effort and money to get it going and calling it an investment is not wrong. Still, you have to recognize a spade to tell if it is a spade, or you might “buy” into something thinking is it an investment.
I did not stick around to hear more because I’ve been involved in MLM before and it takes a lot more hard work than what you think or are told to believe. And time was running out for my next appointment.
Lesson here. All sorts of people can call all sort of things investment. You have to decide what an investment is to you or else get suckered into someone else’s “investment plan”
