3min chapter

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275 - Megasode - The Greatest Hits

Maven Money Personal Finance Podcast

CHAPTER

The Three Types of Scams

All easy ways to get rich have already been exploited. All get rich quick schemes are someone else's path to riches, not yours. Be very suspicious. There are no shortcuts to wealth. Put the effort and hard work in. Building wealth is about avoiding the big mistakes. In our case today scams as it is about doing all of the small things consistently over time. The word scam is a very powerful word. Here's the Wikipedia definition. A scam or confidence trick is an attempt to defraud a person or group by gaining their confidence. And this is confidence for the victim to take action which frequently resulted in a financial loss. I think scams come in different flavors. First we have the

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