Financial Revolution Scams!

The revolution will not be televised. It will be live-streamed on social media. Starting pre-pandemic a wave of millennials and Gen Z’ers search for advice to improve their financial situations. Social media being the staple of many lives it was the best platform to spread information. Just like history, some people only want to take advantage.

One of the most popular financial advice trends in e-commerce. Online shopping became the norm reducing brick and mortar retail stores as they continue closing year after year. Seems like a no-brainer for extra income since Amazon has a program allowing third-party stores to sell products. Amazon reported third-party sellers make up a large share of revenue and are doing extremely well in the e-commerce space. Combine with being one of the biggest brands in the world you get many branded courses on the lucrative business opportunity. 

The past informs there will always be untrustworthy sellers. Dozens of social media personalities selling courses on setting up a profitable Amazon store do not actually know how to build a viable e-commerce store. Buyers express their experience buying courses costing hundreds of dollars in hopes to learn income-generating tips utilizing Amazon’s platform. Instead, they receive unhelpful advice and no positive results at all. 

Stock market investing is another popular financial advice traveling on Instagram andTik Tok through selling courses. The stock market is a wealth-building tool when used correctly. Millionaires and billionaires have been made and will continue through stock market investing. A great route to increase wealth and net worth. 

With great opportunity comes the great risk of losing it all with improper knowledge. I have been contacted by “investors” boasting foolproof money-making strategies in the stock market. Best day-trading strategy, must-have stocks, you will regret not buying this. Every time their range is limited using jargon to manipulate and show false reports of impossible returns. (unless you have seen a 1000% percent return on a stock in 1 month) Victims report losing thousands of dollars following the investing words of imposters.

There are genuine entrepreneurs and investors whose goal is to provide financial advice to all who want it. We need to follow them avoiding the fugazi brands. Here are a couple ways to spot tricksters looking for a fast dollar. 

1) If you are contacted to invest in stocks, crypto, or NFT’s it is a scam.

2) Research the industry and well-known success stories in the field to match advice. For example, Warren Buffet is the most successful stock market investor in history providing sound advice available for everyone. If one’s counsel opposes Warren Buffet's, they are a scam. 

3)Lastly, do not jump on any new opportunity presented to you because it is delivered in such an entertaining way. Do your due diligence to make sound decisions. This is your hard-earned money that you want to make the best decision for yourself.