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Bad Plans
How to Identify Bad Money Making Plans
Mar 30th
It may be obvious to many of you, but how to identify a bad money making plan is something that everybody should give a little bit of thought to. To me, anytime I see a plan that really gives me little or no information about the plan without requiring information from me, like my email address, name, address, phone number etc usually turns out to be a bad plan. It’s not like they are harbouring some top secret information or something, they are just trying to get your information for other purposes.
Think about it, if I had a really great plan, I would be more than happy to give people as much information as I could about it (without totally giving it away, since I would be selling the information of course). If I presented the information well enough, I wouldn’t have any problem at all in having all the customers I want give me their details later when purchasing the plan. The internet is just flooded with these irritating and annoying landing pages, that promise you the moon or some ‘free download’ if only you give them your information first.
Some of the most dangerous plans are those that work like a pyramid scheme, where they promise you if you become a member and only get so many more members you will be a big success. None of these plans work and my best advice to you is to instantly avoid any of them. MLM’s or Multi Level Marketing schemes are crafted cleverly so they can say they are not really a pyramid scheme, but in reality they are. They just changed the way they do it a little since pyramid schemes themselves are illegal.
Perhaps the most important thing to remember in all this is that old saying, “if it sounds too good to be true it usually is”. I also like to look at these plans saying to myself, if I really had a plan that could make me easily $10,000 a month, why would I even want to share it with anybody else? And if I did, why would I have to charge them for it and go through all the trouble of creating elaborate pitch pages, collect information etc?
Intervestonline.com – The Top Ways to Make Money Online – They must be joking
Mar 12th
Whenever you do a search on Google for ‘How to Make Money Online’, you will see that intervestonline.com has the top spot in a results search. Their real tag line should be more like ‘How to Make US Money Online’. In my opinion, most of their suggestions are for sites and plans that are just utter garbage. You will note, several of the ones they promote heavily are ones that I have reviewed and found to be nothing but pure rip-offs. As usual, all that their site seems to be about is ways for them to cash in on referrals and the like by recommending these systems to people and trying to give them flowery, glowing reviews. It is no wonder to me that trying to find legitimate ways to actually make money online is nearly impossible these days. There are just so many obvious, blatant rip-off sites around that it is hard to find any of the decent ones. I am a little uncertain how to proceed with my blog here now. I could spend an eternity providing negative reviews of all the bad places, or maybe I should just change direction and provide only information on good methods and information on making money online.
Stock Assault 2.0 – Only an assault on your wallet
Feb 12th
Stock Assault 2.0 is yet another of the numerous stock picking AI robots that are around. The problem seems to be from many of the user reviews I have read there is no AI in this program at all. In fact, more than one reviewer claims the program does nothing more than feed ticker symbols from stored files during the ‘analysis’ phase when it is running and then present you with some stock picks from who knows where. They verified this by placing their own made up entries in the local files folder the program accesses and were able to view those entries during the running of the program.
When you look at any of the many positive reviews of this program, please look at them carefully, they really don’t give you much solid information on any performance they may have gotten and you can be sure that every single positive review you might find will also have an affiliate link to the Stock Assault 2.0 site so they get their commissions. Don’t fall for this one, I stand by my previous statements that there simply are NO get rich quick AI based stock picking programs available anywhere.
Cash4offers.com Review – Don’t Bother
Dec 29th
I saw a few ads for this place cash4offers.com, so I decided to check it out. Supposedly, they pay you cash for reading emails, reviewing offers etc. Well, I tried to check around for reviews on them and came up with some interesting results. There were plenty of negative reviews, full of comments from users who claimed to have been ripped off, cheated, or tricked in some way by the site. Most complaints were related to people who achieved the payout level of $25, but when trying to receive their cash, they were met with a myriad of excuses or just never paid at all. Several responders reported the same fact, that they were told that even though they reached this $25 level, all they had done was read emails, when, in fact, they had to participate in several of the offers to actually receive their payment. Also, the cost of participating in these offers was greater than the amount of money they would be getting, so, in most cases these users just decided to give up on cash4offers and never visit them again.
On the other hand, there were plenty of positive reviews on cash4offers.com but, unfortunately, most seemed to be written by affiliates eager to earn their $1.10 per customer they are supposed to get for each customer they get signed up on cash4offers.com. I would recommend you pass on cash4offers.com, there doesn’t seem to be any hope of real money to be made there.
Multi-level Marketing (MLM)
Dec 24th
I’m sure by now you have at least seen the term MLM (or multi-level marketing) somewhere. But, do you really know what it is, or if you can make money in such a system? Many MLM systems are dangerously close to being nothing more than pyramid schemes. In a Multi-level Marketing program, you make money not just from your sales, but also from the sales of recruits you have brought into the system under you in a pyramid type structure. Many pyramid schemes try to make their systems appear legitimate by presenting them as an MLM system.
I’m sure that there are many legitimate MLM systems around where you could make some money. But, sadly, the largest percentage of them really offer you very little hope of making any sort of substantial income at all. They will fill your head with hype with evangelical fervency and promise you the moon. Most, will also of course show you many ‘questionable’ testimonials from happy customers who thank god that they joined this system. The sad truth of the matter though, is that most of them are just a load of rubbish. My best advice to you is, if you are seriously considering joining an MLM, do some serious research up front. Do yourself a favour and find out everything you can about the company and its members. Do internet searches and see how many dissatisfied or disgruntled members there might be. Try not to pay too much attention to glowing testimonials and other pitch page type reviews which are most likely just written by members trying desperately to get more recruits in under their name.
Liberty League – Scam
Dec 7th
From what I have been able to find out, Liberty League is actually a pyramid scheme veiled as a product marketing operation. It has been classified as a pyramid scheme in New South Wales Australia after an investigation. From what I gather, to make money, you must produce a substantial number of successful product leads, with guarantees that if you invest enough money into it, your efforts will pay off big. It is a simple enough task to just google it and you can find large numbers of ex-users who were suckered in and lost large sums of money ($15,000 and up) before they wised up and got out. There are also numerous report of phoney results and testimonials being offered by others in the program in an attempt to boost membership into the pyramid beneath them to try to grow their earnings.
While investigating Liberty League, I also came across another company Unified Wealth Solutions which appears to be in league with them. Unified Wealth Solutions is primarily geared towards marketing website design and hosting services, providing customers with turnkey ecommerce stores. But, the implication seems to be they will then attempt to direct customers into the Liberty League system as a way to get marketable products. I welcome comments from anyone with further knowledge or experience with either of these systems, but for now, I will leave them both marked as scams.
Payment Processing Scams
Dec 6th
Payment processing scams are everywhere, they come in countless varieties, but, the general theme is always the same. The business/charity or individual needs your help to simply process some payment for them and you get to keep a substantial part of the payment as your commission just for doing the transaction for them. What could be easier than that? It’s all legal isn’t it? Unfortunately for you these are all scams and you will find yourself in hot water, owing thousands of dollars if you even try one out. If you want to learn a bit more about them, read on.
These scams are very dangerous and you can find them everywhere, in ads, posted on job boards as real legitimate jobs, or by an email you received. Although they come in many flavours, and some are masked better than others, the general theme of these scams is always the same. The scammer will give you some check or even a bank wire transfer into your bank account, along with forwarding instructions for where the payment is to go. You simply withdraw the money from your account after the payment has cleared and forward it to the payee via Western Union, minus your commission and the Western Union fees. The problem for you comes later, you see, all these payments being sent to you have been hacked or stolen from someone else’s bank accounts. As soon as the theft is realized by the bank or person, the issuing bank issues a reversal against your account and now you are on the hook for the entire amount of the transaction. The bank doesn’t care if you were scammed or not, they just want their money back and will do whatever it takes to get it from you. So, if you received a payment for $2,000, withdrew it, kept 10% ($200) and sent the $1800 on, you are now responsible for the entire $2,000, not just the $1800 you sent on. Since you are the one who withdrew the money from your account, you are the one now responsible.
No legitimate business, charity or individual needs your help to process a transaction. These are ALL scams, it is just that simple. If they really needed to have Western Union payments sent to their clients they could do it themselves using their own bank and would not even have to pay a commission. Never get involved with ANY sort of payment processing transaction, and whatever you do, no matter how official the scammers might seem, never give your name, bank or any other personal details, or you could also find yourself the next victim with money being stolen from their account too.
Forex Nitty Gritty – Don’t Bother
Dec 2nd
Forex Nitty Gritty by Bill Poulos is an eBook, video based system to teach you the secrets to trading in the foreign exchange market. I don’t really have anything bad to say about this system, Bill does give you a lot of solid trading information and advice and doesn’t make any of the wild riches claims of so many of the other plans out there. But it’s not anything you can’t find elsewhere for less. Also, in keeping with all my previous posts, I am against forex trading as a way to make money online for the normal person.
Can you make money in forex trading? Yes, but it’s not easy, it takes a lot of study, dedication, discipline and a lot of capital to begin with. You are not going to make a pile of money with some ‘magic bullet’ trading robot or ‘secret method’ or by using a small amount of capital with 200 to 1 leveraging. Bill Poulos makes a correct statement in his video that the mistake that 90% of forex traders make is relying on other people’s advice when making trades. I agree, but I have an even better true statement, 90% of forex traders shouldn’t be trading forex to begin with.
You won’t find any link to the Forex Nitty Gritty here, if you are still interested in finding out for yourself, you can find it easily enough. But if you’re really dead set on diving into the forex market, why not buy yourself a good book on the topic first, and read it BEFORE you dive head first into the empty pool. Here’e one to start you off:
CashMultiplierSystem – Scam
Dec 2nd
The Cashmultiplier System is one of the many gambling system based money making systems around. As with others of this type, they rely on a Martingale gambling system where in it’s simplest form, the gambler is guaranteed of winning based on the strategy that if they keep doubling their losses on a simple bet, sooner or later they will win. For example, with roulette, the system will tell you that if you bet either red or black consistently, sooner or later you will just keep winning. Unfortunately, in real life, these systems can never work. Casinos have betting limits in place just to prevent this sort of system from working, and its a good thing for you that they do. You could lose a ton of money if allowed to double your lost bets for any significant number of times, since the amount of each successive bet goes up exponentially. At a $100 roulette table, you would need $12,400 just to cover 7 lost bets in a row, for 8 bets $24,800, for 9 bets $49,600 and so on, doubling with each successive loss. For a good explanation of why this system won’t work, just visit the following link Martingale Betting System Explained
The only people making any money with these sort of systems are the places like this one who get commissions from the casinos by drawing in customers for them by getting them to download their free software and sign up for an account.
Trifilliate Payday System
Dec 1st
Yawn, what do we have here, Trifilliate Payday, yet another sure fire system you can use to make big money online with affiliate marketing. I’m sure by now you’ve probably seen a hundred great reviews of this system, all carefully handcrafted by individuals anxious to get their commissions by getting you to buy into the system. My opinion, don’t bother.
From what I could make out from the video, the creator of Trifilliate Payday Jani G. Was just hanging out one day when he was contacted by some friend who asked him how could he make money online with new product launches, given the fact that he had no lists or google? After a very short time, this marketing guru suddenly had some sort of epiphany and the plan came to him out of the blue.
He will tell you over and over in his promo video how he had over $10,000 in sales in just 24hrs with his system. And that was just for one new product launch (google sniper), think how much you could make if you could use the system on every single new product launch. He doesn’t know about you, but he gets new product launch emails until his inbox overflows with them.
I won’t waste anymore of your time or mine with this one. Just ask yourself simple questions, isn’t $10,000 in 24hrs enough of an income for this guy? Why is he falling over himself to make all these videos and do everything under the sun he can just to sell you his system? Does he really care about helping you make money? Why? I wouldn’t bother looking any further into this one, and in my opinion, neither should you. There you have it, the first honest review of this system, no links, no prompts, no trying to get you to find out for yourself. I will only provide links and information on this blog for systems that I feel are good values for your money and will provide you will something useful.
If you have a different opinion, please put it into the comments and tell me exactly why you think I might be being unfair.