Imagine walking into a wet market and there you see a sign which says “Golden Goose for Sale!” Doesn’t it sound great? Sounds like a great opportunity to me. Who wouldn’t want to buy a goose which lays golden eggs! But wait! Before you buy one, it is important for you to pick the right golden goose.
Picking the right golden goose is like picking the right investment platform. Don’t buy a goose just because its on sale. Neither should you invest in any platform just because it gives a high amount of returns.
You wouldn’t want a goose that just lays one golden egg and die. Also, you also wouldn’t want a goose that lays rotten eggs (ponzi schemes lay rotten eggs).
Any investment will always carry risks. But here’s a checklist that can help make a better decision into picking the right golden goose. Don’t just focus on one criteria of the checklist but on every point listed.
1. Check where the golden goose has originated from.
Check the background of the company and it’s existence in the industry. Also check if the company has any previous track records (these track records can be based on the company’s previous investments or track records of their operation). Imagine now you’re the employer and you’re about to hire someone. You’ll probably will want to look at their resume history before considering their application.
2. How does the goose to produce a golden egg?
Understand what the investment is about and have an understanding on how does the company make their profits. Without profits, they wouldn’t be able to pay you the promised returns.
3. How long will it take for this goose to lay a golden egg?
Check when and how much the percentage of returns will be.
4. How can i collect my golden egg once it’s laid?
How does the company make its payment to investors. Do not underestimate this point as one should be alarmed if the company pays out in cash only. It’s like as though the company wants to hide their trace and source of funds. It can be a case of money laundering. In the past, there was a investment scam company who paid out investors through cash only.
5. Does the golden goose come with any insurance?
What are the investment securities provided by the company to secure your capital. This is a very important question in the checklist as you need to know how your capital is being protected. There must be some form of protection of your capital otherwise it’s simply too risky. (Genuine certificate that will be recognised, title deed of property and etc.) What is it that you have in case anything goes wrong.
6. Any special vet i can approach if my goose is sick?
In the event if the worse case scenario occurs, you must always ask yourself who are the people you can seek for help. What credibility do they have to be able to help investors out.
I can’t stress how important it is to go through every single question before you make your investment decision. If you don’t protect your money, then you’re bound to lose it. My personal experience has taught me a great lesson and hopefully this entry will help you in choosing the right golden goose. May we all move much closer to achieving financial freedom.