Offshore Investing

Rating:

Level of Review: Researched.

Overview: Investment programs that you buy into for a little or a lot, which may or may not tell you that the money is tax exempt.

Product: The product is investing. Sometimes it is a book on offshore investing (these are always scams).

Cost: Anywhere from a small amount for a book, to a higher amount for an account.

Compensation: Profit on investments. Most programs cite profits that are quite high. People in the program may also talk about high profits, but usually they are ones who have either left their money there and not tried to withdraw it, or they are the ones trying to sell you the program.

Conclusion: Projections, or high dollar reports of earnings do not mean anything until the money is in your hands. Offshore investing is very risky. Many countries do not have well regulated investment industries. Some people undoubtedly do make money this way, but they either do so illegally, or they did not learn to do it from a $20 book, or pay $500 to get into a program to make them rich.

When you do this kind of investing, often there can be issues with legality. Your earnings are taxable, no matter where you earn them. Sometimes the money is being shuffled around to fund organizations which would be illegal in our country. And you still have to trust people to pay the money back that you invest. In some scams, the money is even held in someone else's name. Are you going to trust a stranger to put their name on your bank account?

The reason the scams succeed is that they promise such big returns that people allow their greed to overpower their common sense just long enough to pay in. Whenever they have those niggles that tell them that it is too good to be true, or that the person they are talking to might not be entirely truthful, they squash them in an effort to continue to believe in the myth that the money will in fact roll in. If there is a setback, they continue to try to keep the myth, rather than bailing when the loss is low.

If something is legit, you should be able to find people who have succeeded at it, who are NOT trying to sell you the program! If you cannot find that, then don't do it! Because anything that really succeeds will have disinterested people telling you it works. If they have just joined, or have not actually withdrawn more than they put in (a lot more if the claims are big), or if they are a member of the organization who profits from your joining, or if they have been referred to you by someone who is trying to sell you the program, then their word cannot be trusted.

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