“There are two times in a man’s life when h* should not speculate; when he can’t afford it, and when he can.”–Mark Twain.
THIS year any man or woman who loses a dollar through making bad investments –that man or woman will receive little sympathy from friends!
The cause of money losses to most men and women is–they do not know what is possible and what is impossible in business. Naturally, every one wants to invest money where it will bring big returns. They cannot realize that they cannot get 15% or 20% income, and still have their money absolutely safe.
They do not know that if an investment which promises to pay 15% or 30% were safe, it would be snatched instantly by men with large capital, and would never, never be offered to the public.
When somebody tells you he has an absolutely ” safe investment” for you which will pay as high as even 15%, you can be sure he has nothing of the kind–and the quicker you get out of his vicinity the better.
There are several safe places in which to put money on interest, and every child and grown-up knows them.
1. You can put your money into a bank account which pays good interest, and is as convenient as cash carried in the pocket.
2. You can invest in the kinds of bonds and stocks which are ordinarily dealt in by substantial banking institutions.
3. You can buy income real estate or farm mortgages such as are considered as proper investments by trust companies and insurance companies.
Ignorance of how money can make money and still be safe is no longer an excuse for anybody losing. Whoever reads English or understands English has heard of these safe investments.
Whoever does not make use of his knowledge, but puts his cash into investments about which he has less knowledge, and of which he is less sure than of these–that person is either incompetent to handle money and should be advised by an experienced business man; or else he is instinctively a gambler, and his losses be upon his own head.
“Mr. Smith told me when he sold me the stock that I would get 30% dividends every month,” testified Mrs. Mary Andrews in her suit against James H. Smith, a broker, whom she charges with operating a confidence game.
Mrs. Andrews bought stock in a machine company and claims that she was swindled out of $10,000.
Such shocking deceptions as this, practiced by individuals who take the much needed dollars of men and women, promising them an “investment” which will pay enormous interest or will make them a large fortune, are attracting fewer people each year. Nearly every one has some acquaintance who has been the unfortunate victim of one of these fraudulent “investments” and the lesson has not been forgotten.
More and more people are satisfying themselves with a moderate interest on their savings, rather than taking any chances on the many “opportunities” offered them to get rich quickly.
Substantial and sensible people who know how hard it is to get money are coming to the conclusion that “it is better to be safe than to be sorry.”
“Put not your trust in money, but put your money in trust.”–Horace.
Put every dollar you can spare from actual needs on interest. The dollar you put by today may buy two dollars’ worth next year. It may add 50% or 100% to itself, and no chances taken.
By avoiding unnecessary spending you can make your money bring the big returns you wish for and yet have it absolutely safe.
“No man will lend his moneys afar off, nor put them into unknown hands.”–Bacon.