Financial Independence Doesn’t Start with Scams

August 25th, 2007 | Stacey | Residual Income, Passive Income, Financial Freedom, Financial Independence

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Financial independence is the buzzword today, especially in today’s compromised economy. With a declining market and increasing number of foreclosures, people are scrambling to get debt help and find a way to achieve financial freedom so they don’t lose everything they worked for.

While passive income and residual income are a viable way to earn extra cash and ultimately attain financial freedom, there are many scams that look to take advantage of people’s fears in an economy such as the one that exists today. While the Federal Trade Commission, the Securities and Exchange Commission and the Better Business Bureau continue to warn unsuspecting investors about pyramid and multilevel marketing schemes, people still get duped everyday.

Of course there are many legitimate multilevel marketing programs but they never involve preying on friends or family and will be well-established companies that are willing to answer all your questions about the opportunity. When a company uses flashy ads, overly enthused salespeople and hype to promote themselves and it sounds too good to be true – it probably is.

Choose to deal with companies with a proven track record that don’t encourage exploiting your relationships to earn a living. Many residual income opportunities give you marketing tools such as a website, blog or support team to assist you in getting started. Don’t be afraid to ask questions and inquire about real-life results. Try to deal with companies that involve no initial investment so you only risk losing your time and efforts. Beware of opportunities your friends tell you about – they could be getting scammed themselves. Always do your own research.

Choose your residual income opportunity carefully so you can achieve the financial independence you want without falling victim to a scam that will actually cost you money.