Although it happened many years ago, what I’m about to tell you is still embarrassing for me to share...
It hurt like hell at the time, but I believe in being transparent and open about the painful experiences I went through so you can avoid the same costly mistakes I made.
It all started 12 years ago when my quest to find the holy grail of passive income turned into a financial nightmare.
Know what you get when you Google ‘passive income’?
Over 1 million results related to things like blogging, investing in rental properties, or building a network marketing business, all of which are NOT passive.
If you dig deeper, you’ll likely come across a slew of get-rich-quick investment schemes (aka, HYIPs).
You’ve probably seen them before (maybe even dabbled in some).
They all claim to pay ridiculously high fixed daily returns on your money.
But, as I later discovered, the majority of them are nothing more than fraudulent money games and off-shore scams created by con-artists just to steal your money and leave you holding the bag.
Before I knew how these kinds of high-yield investment scams worked, I made the mistake of getting sucked into the hype and deposited a boatload of money into several of them.
To make matters worse (and, naively thinking these programs were legit), I referred my friends and family to them.
And, it didn’t take long before they ALL eventually stopped paying and disappeared... taking my (and, everyone else’s) money along with them ― ouch!
Each time it happened, I remember thinking, “WTF! How could I have been so stupid?!”
Feeling like a total failure, I’d stare at my computer screen for hours wondering what was wrong with me.
But, the most painful part about it all was having to come clean and tell my wife how much of OUR money I lost on these scams... which, when all was said and done, added up to $143,000 and change.
As a result, we found ourselves stuck in financial quicksand... and, sinking fast.
In debt up to our eyeballs and with no cash reserves, things got so bad that I had to pawn off a rare coin collection my grandfather gave me just so we could pay our monthly mortgage bill.
It was a bitter pill of defeat to have to swallow.
Feeling disgusted at myself for being ripped off so many times, I thought about throwing in the towel and mustering up enough courage to ask my parents for a loan to bail us out... but, I didn’t.
Instead, I turned my self-pity into a desire to find a better way...
I began hunting for other passive income opportunities that could give my wife and me the kind of freedom we were looking for, but without running the risk of being scammed again.
After many sleepless nights researching anything I could realistically invest in with little money, I discovered the secret that levels the playing field so regular people like you and I can comfortably retire in less time than anyone on Wall Street wants us to believe.