In your pursuit to create residual income, you will run into a lot of scams. When it comes to scams, there is only one goal, to make money. The people who run these scams target one type of people, people who want more money. That being said, pretty much 99.9% of us fall into that category and because of this, there are tons of these people out there ready to take as much from your wallet as they can. Here are their tactics and what to look out for.

Levels of Scams

There are different levels of scams. Some are just straight out obvious and ridiculous they make you wonder how anyone can fall for such things. Remember those mail order scams? Now some are more sophisticated. These are disguised as legitimate business opportunities geared to make a big dent in your bank account.

With the higher level ones, many times you get scammed without even knowing it. This is because they set it up in a way to make you believe that it is your fault if you fail to make money. The truth is that money doesn’t come easy. Anyone who tells you it is, walk the other way. So sometimes it’s just your lack of effort and persistence that made you fail, but other times, it’s not you, it’s their system/program/product that is the problem.

Warning Signs

Here are some signs to look out for when you come across any type of residual income opportunity or just any thing that involves making money.

The promise of easy money:

Building wealth will not come easily unless if you inherit it, win it, or steal it. I guess that’s why scammers exist. Their promise of easy money is for them, not you. If you ever hear this promise, turn around and run.

The convenience of no work:

Creating residual income or any income requires work, at least initially. The ones who claim to do all the work for you are just pull your string. If that’s the case, why don’t they just do it for themselves?

The promise of quick wealth:

Building a business of any kind takes time if you’re doing it legally. Realize that to it will take you several years to make any real amount of money but know that it’s worth it. It sure beats having a job for the rest of your life. As with any worthwhile thing in life, you will have to dedicate a lot of your time and effort.

It’s easy to spot these when you’re not mentally and psychologically engaged in a scammer’s sales presentation either online or in person. They will attack your vulnerabilities like the fact that you hate being broke. They’ll ask you questions like, “How long will you continue living this way? Isn’t today the time to make a change in your life by buying my junk?”

The rule of thumb here is to always give yourself time to think it over before you make a decision. This way, you will disengage from the psychological spells these scammers put you in and be able to think more clearly. Don’t fall for the “buy it now at a discount” trick. You can almost always get the same deal later.

Lastly, as the saying goes, “if it sounds too good to be true, it probably is.”

Leon Nivek writes for a blog on how to build residual income. On it, he gives people free information and resources on how they could create their own streams of income as well as how to avoid residual income scams.

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