Greed and Fear: People are Losing a Lot of Money because of these Two Reasons
In recent times, a lot of people have become victims of either an investment or a cyber fraud (primarily in the form of digital arrest) and lost a huge amount of money. Almost every day there is news of someone becoming victim of one of these two kinds of frauds. People have lost a lot of their hard-earned money, in many cases their entire life’s savings, because of investment or cyber fraud.
If you deeply analyze the circumstances under which people are becoming victims of these frauds and losing their hard-earned money, you will realize that they are becoming victims of frauds because of two primary reasons – Greed and Fear. Let’s try to understand these two reasons in detail.
Greed: A large number of people are have become victims of investment frauds because of their greed. Most people have an urge to earn a lot of money and become rich as early as possible. Such people want to earn high returns on their investment in the shortest possible time. Crooks take advantage of such peoples’ desperation of becoming rich by earning high returns on their investment. Crooks are easily able to convince these people that they (crooks) can help them in getting very high returns on their investment in a very short period. Thinking that they can get high returns on their investment in a short span of time, people invest their hard-earned money in various investment schemes as suggested by the crooks. Initially, they get high returns on their investment. Thinking that they will continue to get such high returns, people invest more money. In the end, they lose almost all the money that they have invested. Greed of earning high returns on their investment and becoming rich very quickly cost people their money, in many cases their entire life’s savings.
Fear: People have also lost a lot of money because of fear. People have lost a lot of money in cyber frauds as they became victims of digital arrest. People are losing money in cyber frauds because they are letting fear to take over rationality and logic. As cyber criminals call people (by claiming that they are from one of the law enforcement agencies) and threaten them that they will be arrested for the crime that they have committed (which is totally false and fictitious), people become very fearful because of the prospect of being arrested. They become fearful of losing their name and respect in the society. Due to that fear, people are not able to logically analyze and understand the situation.
Most people have one or another kind of fear. That fear may be of losing their name and fame, getting arrested or losing something valuable. Cyber criminals are taking advantage of peoples’ fear. They are using fear as a weapon for extorting money from people. By making calls (audio and/or video) to people, they create fear and then use that fear to extort money from them. In such situations, people are losing their money, in many cases their entire life’s savings, because they are letting fear dominate rationality and logic.
What Can You Learn from It?
Neither greed nor fear is good. If you become greedy and want to be rich or want to get high returns on your investment in a short period, you can lose all of your hard-earned money. Please remember that it takes hard work, time, right strategy and investment, and some luck, to earn a lot of money. You can become super rich but for that you need to have clarity, knowledge and patience. If you will take shortcuts to earn money fast, others will take advantage of that. Fraudsters will take advantage of your greed and impatience, and they will make you poorer by taking your money.
You need to understand that there is no shortcut to becoming rich. If you really want to get high returns on your investment, you need to be very careful about where you invest your money. You need to have patience. Accumulation of wealth takes a lot of time, if you are not using any unfair means. Warren Buffett did not become super wealthy by taking any short cut. He has been consistently investing for over the last 80 years. He has been able to accumulate so much wealth because of his thinking, discipline, and long-term investment plan. So, the lesson is very clear. If you want to become rich very quickly, others can take advantage of that. Your greed may make you lose most, or all, of your hard-earned money. If you want to become rich, it is important that you keep working hard, stay focused, invest wisely and have patience. You will get high returns at the right time.
Another lesson for you is not to have any kind of fear. Why are you fearful? What is that you are fearful of? If you have not done anything wrong, then you should not have any fear. If you don’t have any fear then you will take time to understand and analyze the situation you are in, no matter whoever is calling you. You will try to understand whether the person claiming himself from one or another law enforcement agency is really working with that agency or not. Keep in mind, generally officers or employees from law enforcement agencies will not call others, terrorize them and demand money. Don’t be so fearful, keep calm and think logically.
If you can have control over your greed and fear, it can not only save your money but can also save your life as many people have committed suicide or died of heart attack after losing their life’s saving in one or another kind of fraud. Remember, greed and fear are two major reasons because of which a lot of people have lost their hard-earned money, in many cases their entire life’s saving. So, don’t let Greed and Fear take charge of your life. Work hard, stay focused, invest wisely, have patience and be fearless.
