If something seems too good to be true, it could be, or it could not be. You need to find out for yourself by taking extra care, applying extra precaution, digging deeper and maintaining appropriate control. Under no circumstance is it ever appropriate or prudent to risk your entire net worth on any investment unless you also plan to live with any resulting negative outcome.

Why? Just because you don’t understand something does not necessarily make it bad. Just because your neighbor, group of associates, or person of respect has invested or participated in a particular financial strategy does not mean it is okay for you. The worst thing you can tell yourself is, “If it’s okay for so and so, then it must be good for me too.” Have the confidence to make your own decisions and ask your own questions. Someone else is not going to pay your bills or look after your household if something goes sideways. It’s your responsibility!