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Money Smart?
Fred received an unexpected phone call from Canada offering a once in a lifetime opportunity to invest in offshore options trading, promising returns of more than 30%. He needs to act quickly as there are only limited opportunities available.
What should he do?
- Invest his money before he misses out.
- Hang up the phone immediately.
Many have lost a lot of money and even run into debt, seemingly ‘investing’ in get-rich-quick schemes.
While a good risk appetite might be beneficial to an investor, it is wise to research well and seek proper information before committing your funds. Here are a few tips:
- You have the right to ask your investment manager what your funds would be invested in. For instance, the Money Market Fund is invested in Government securities and other verifiable instruments, hence the capacity to deliver competitive returns and dividends.
- You should also carefully consider the interest and turn-around rate offered by the investment opportunity. If it appears improbable, it probably is.
- Invest with an organisation you can trust, one with a proven record of accomplishment. If you are ever in doubt as to the authenticity of any opportunity, contact your financial adviser.
As we prepare for the festive season, be alert and protect yourself (bank details and investments).
Should you have questions about investments and asset management, please contact us. We are always willing to provide financial advice whenever you require it.
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