Where You Should Put Your Money, Not To Maybe Get Capital Gains or Income--But To Actually Keep Your Cash Safe

Most people are too easily taken in by the next "Shiny Object" when it comes to making extra money, be it with Mutual Funds, Stocks, or business opportunities that most people should avoid period.

First of all, a mutual fund and investment company cannot, I repeat cannot guarantee you'll ever make a dime. If they do, run for the hills people.

I came across a company in my town over a year ago that was guaranteeing 8% on your money, and were guaranteeing it in writing. It had something to do with mortgage investments. I'm going to have to look back at it.

Anyway, if anyone gives you those kinds of guarantees without backing it up, and it seems scammy, chances are it is. Don't go near it.

Guaranteeing in writing? Are you kidding? These guys are scammers. Oh, sorry, I have to say alleged scammers. If you say they are scammers without using the word alleged, you can be on hook legally more than these jackasses.

Okay, here's what I suggest to do with your hard earned cash. I've talked about this at length, and I make it very simple.

Put your cash in simple bank accounts, and at most put your cash in GIC's, which are the equivalent of Certificates of Deposit in the USA.

And in my last article I talked about being in business as well. Use your own cash. Don't borrow it from the bank, a relative, a friend or a local loan shark. Don't do it.! Be smart!

And like I said, if you go into business do it with money you can afford to lose. There's no guarantee you'll make a dime.

But if you can create value, educate people and give them a product or service they can actually use or need, then you've got something there.

But going back to what i was talking about at first. Keep your cash in the bank in a safe basic account. Don't worry about getting all kinds of interest,capital gains or income.

Worry more about ever getting your money back.

If you still think your money is not being used effectively, put it into Certificates of Deposit and ladder them so as one matures, another one makes more interest and matures eventually. And don't keep your cash tied up for many years. You can only accumulate so much interest.

So, keep your cash in simple bank accounts, CD's or GIC's in Canada, and start a small business with cash you can afford to lose. And, keep working a job if you have to.

I'm going to give you a link to someone who can help you see the light that putting your hard earned cash in equities, is the wrong move.

This individual is very wealthy and has a very indepth insight into making money and keeping your cash safe. You know who I'm talking about.

If you're smart, subscribe to his blog and educate yourself. You may not understand everything he talks about, but read it anyway. You gotta love him!

www.blogmaverick.com

That is Mark Cuban's site. He owns the NBA champion Dallas Mavericks.

If you have any questions, just get back to me.

mdgrove0@gmail.com