Scammed by Residual Income Opportunities – Is it You?

September 23rd, 2007 | stacey | Financial Freedom, Financial Independence, Residual Income, Residual Income Online, Residual Income Opportunity

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Have you been scammed by residual income opportunities, thinking you would make a fortune and ending up with a pile of dirt instead? Did you invest in a residual income home based business only to find out it was a lure to get your money and you never earned any yourself? While there are numerous legitimate residual income opportunities, there are an equal number of scam artists looking to make money off your desire to achieve financial freedom.

Residual income is basically a slow form of income that trickles in as the result of an action taken. For example, if you take action to join an affiliate marketing program, you will earn a little bit of income from products sold through you and your referrals will also make you a little bit of money.

A scam happens when someone takes your money making bold promises but delivers very little or nothing in actuality. Unfortunately, there are quite a few residual earning opportunities that are scams, promising you the moon without delivering anything. Companies with a large number of testimonials should always make you wary. If they have more than three to five people singing their praises, it is likely to be a pumped up scam.

Other promises to be wary of include offering free membership with the opportunity to try products at a discount. A company can easily send a small product for free to lure you into their affiliate marketing opportunity – asking you to pay, even a reduced amount, is no longer offering a free membership.

Another scam is offering you free websites to sell products. Often these free websites involve hosting fees, monthly service fees, set-up fees or other hidden charges that benefits the affiliate company and cost you money – and you may not even earn anything!

Finally, when a residual income business opportunity offers fast, quick cash that will help you quit your day job, beware. Residual income is a slow process that takes time and there are no get rich quick schemes.

Although there are residual income opportunities that are scams, there are thousands that are a legitimate way to earn money. Research residual income businesses carefully to make sure you are devoting your time and efforts to the right one.