It’s always easy to find yourself being lured into high yield make money programs that promise to make you fast cash without exerting much effort when you are badly in need. And before you realize, you’re already “soaked in the rain” and you almost got no choice but to continue with the program and hope that you’ll soon retrieved your investment back.
This scenario is something that I always observe to be happening in this little mountain city where I am currently based. A city that is so infested with almost all sorts of network marketing programs and schemes that victimizes the budding business folks as well as the younger generations. I cringe every time I hear those convulvulated business orientation speeches often mixed up with outright lies and false promises.
Well, that’s something not related to making money online but maybe I could be discussing about it somewhere. The reason I mentioned about it is that it reminded me of the series of financial woes I got myself into as a result of joining network marketing companies. But what really caught me is investing big money on HYIP programs and then getting other people to do the same. When the so called “forex managed company” flies by the night, I found myself into such a big accountability.
What are HYIP programs? According to Wikipedia, “a high-yield investment program (HYIP) is a type of Ponzi scheme, which is an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors.”
The common mechanics involved is that you invest a certain amount and earn predetermined daily interest. Accumulated interest profits can only be withdrawn after a certain time.
So let’s say, you open an account. Deposit $100 as you principal investment and earn a daily profit of 1%. Some HYIP programs offer up to a whopping 3%. That translates to $1 or 3% a day without doing anything.
You wait for a certain investment period say 150 to 200 days then you withdraw your profits and principal investment. Or you can reinvest it and let it roll on until you’re satisfied with the profit it made.
Talking about scaling up, you increase your investment to $500.00. Basing from the interest rates mentioned above you’ll be earning an easy $4.00 up to $12.00 a day. How much more if you’ve got lots of referrals!
Someone should be making a killing out of this. Wow, that could be so appealing!
Is it a good money making program? It depends on how you want to use it. Do you have that money to gamble?
While there many people claiming to make money with this kind of investments, it should NOT be taken as an option if you’re considering a serious online business. In fact, you will lose money in here if you don’t know how to play with it.
It’s a rich man’s game and it’s not recommended if you can’t afford to lose money. In other words, you may try your smart instincts with these types of money making programs if you have that “extra cash” to put into waste.
The return on your investment looks very promising but it’s a very risky endeavor. High yield buy high risk.
Many HYIP companies are fly-by-nights and they simply disappear after some time. Many won’t pay their members and they make canned reasons like this and like that to evade payments.
Why risk to lose your hard earned cash especially when your family needs it?
Well, if you want to try it go for it yourself but please don’t involve your neighbor who doesn’t have the means to lose hard earned money.