Whenever a recession bites, our thoughts invariably turn to ways to make our money go further or maybe we just want more. After all who wouldn’t want more money? It may not buy you love but it buys pretty much everything else. Materialistic or not, surely everyone would want a financially easier life. What not to do though is get involved in dodgy get-rich-quick schemes and here are 7 risky ways to make money.
Table of contents:
- 1. Gambling
- 2. Foreign Currency Trading
- 3. Online Surveys
- 4. Helping Nigerian Millionaires
- 5. Medical Trials
- 6. Real Estate Development
- 7. High Yield Investment Opportunities
Admittedly some professional gamblers make a good living but this is an incredibly risky way to make money. It is highly addictive and you can find yourself losing your shirt. And before the light bulb goes on, you realise you are actually a pretty rubbish gambler.
2 Foreign Currency Trading
Can you predict how world currency rates move? Not many can but those who forward trade in foreign currency have huge amounts of cash to play with and the rate of return in percentage terms is actually fairly small. This is a risky way to make money because to make anything like a realistic profit you need a pretty big wad of cash in the first place. It is also a major fraud area and is a way of laundering dirty money.
3 Online Surveys
Have you signed up to one of those survey engines where you can earn $30 a survey etc? Have you ever been offered one for this amount or if you have, did you find that after answering just a couple of questions you were told you didn’t fit the profile they were looking for? You can find yourself filling in surveys that take 30 minutes of your time for absolute minimum of payment. Although not the most risky way to make money it’s certainly not worth the effort you put in.
4 Helping Nigerian Millionaires
If you haven’t heard of this risky way to make money, what planet having you been living on? Known as the 419 scam, you get a very polite email from a preacher, widow or political prisoner asking you to safeguard their riches. In return for you paying a fee they promise you a portion of their fortune. Of course, this is a massive scam and to be avoided at all costs.
5 Medical Trials
Although any drugs or treatments being offered for paid human trials have already undergone massive laboratory testing, as a trialist you are being a human lab rat. You have no idea of what to expect or how your body will react. Also, to make serious money you have to be enrolled in multiple trials which firstly isn’t allowed because of cross fertilisation of results and secondly, is potentially highly dangerous. Definitely, a risky way to make money.
6 Real Estate Development
Some people make a great success of this but with the way property prices fluctuate like they never have before it has become a fairly risky way to make money nowadays. It is also something that needs a capital outlay.
7 High Yield Investment Opportunities
You absolutely have to stay away from any schemes which promise a very high return over and above the normal rate of return. Not only are the profits not sustainable over a lengthy period of time, they are highly risky and in 99% cases they are also unlawful.
Unfortunately money doesn’t come easy. For the vast majority of us our money will come in the form of our salaried income. Some of us may win the lottery and some of us will be highly successful in our jobs but really, the most we can hope for is to have enough money to have a nice life where we can feed and clothe ourselves, have a nice home and money for some of life’s finer things like nice cars, holidays etc. For the daredevils there will always be these 7 risky ways to make money and more but is the risk worth it?
Top Photo Credit: Travel Aficionado
Please rate this article