Sunday Thought 36

A lot of get-rich-quick schemes are coming out during this recession. We’ve all heard about several ponzi schemes going bust and taking thousands of individuals and billions of dollars with them.

These schemes usually offer excessive gain for little risk, and usually involve an idea about which we know very little or nothing. Also, they usually require quick decisions (too good to last!) and unfortunately, many times are recommended by a friend.

It is amazing how susceptible both the rich and poor are to get-rich-quick schemes. They all seem logical at first, but as you dig deeper their logic unravels. The best way to avoid these traps?

• have established goals (reasonable goals!)
• stick with what you know (and don’t overestimate your knowledge!)
• don’t expect something for nothing
• realize if it’s too good to be true, it is
• have patience-never be pressured into something until you have had time to research and think about it
• check with others to see what their gut reaction is

The way of a fool is right in his own eyes, but a wise man is he who listens to counsel. (Proverbs 12:15)

The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty. (Proverbs 21:5)