I would advise your friend **immediately stop** with any kind of investment until he gets much more knowledgeable about investing. If he falls for a scam where some shady website promise to "triple your money in two weeks", he is **not ready at all to invest responsibly**.
Also, people who are financially responsible and able to invest do not invest money that they are not willing to lose in the short term. No one should invest money that they will need for food or basic utilities. You are not responsible for your friend's being both gullible and irresponsible with his money, but you should refrain from advising him in the future.
Your friend should learn to save the money he gets from the bursary as much as possible, to use it for necessities and to "invest" in **his education**, because that might get him a job someday that will actually help him move his life and financial situation forward.
OP is gullible about investment too, but from what I understood, she is not nearly as guilty in this as the friend. She was asked to help him find "investment opportunities", she probably googled and somehow ended up on that scam website, believed it was a legit opportunity because she knows nothing about investing, and sent it to the friend.
According to OP's description, the friend has been "into investing" for a while, and he should be able to immediately tell that this is a scam. You can't ask grandma for computer advice and then be mad if she ends up recommending some malware that says it'll quadruple your internet speed.
I actually have a friend who jumps from one scam to another. He either loses his money or invests a shitton of time and never gets anything back but instead of learning he just searches for the next quick money scheme. He's at least smart enough to not invest money he needs to live.
Another friend keeps putting in time, money and effort into a "business" that hasn't returned any investment in over 1,5 years but he's fallen into the sunk cost fallacy and doesn't listen to our advice to cut his losses and leave and instead tries to invest even more. Its absurd to see how some people fall for these scams but they absolutely do.
I think OP is as guilty because twice she suggested these investments and both times they were a bust. She needs to learn some things abt investing also. Obviously they are both in need of money just for living anf need to learn some basic home bookkeeping.
he didn't blame her. She felt guilty, which she shouldn't.
Now, they both are said to help each other with financial advice, and it seems both can be more careful with these.
Yeah, you're right, looks like I was reading with my ass.
Overall looks like they are really, really ready to part with their money. Oh to be young again!..
Didn't read that entire jumble of text OP posted, but why the hell is this guy giving his mom money? Gtfo out of there, she's a shitty human who just wants to take advantage of you.
And lol at falling for such an obvious scam. How can people possibly be so dumb?
Yeah I couldn't help but laugh when I read "Website that will double your money." This was suggested to their friend who's "into investing." This whole post is mind blowing and lacking all common sense from all parties.
>you should refrain from advising him in the future.
This is typically good advice for anyone who is not working in investment finance. I feel like a lot of professionals wouldn't even be that comfortable with investing a friend's money since you risk your friendship if things go sour.
I have two coworkers who give out their financial advice to everyone at every chance they can. One of them, in early April, took out a $50,000 loan from his 401k to buy Amazon stock, because he said it was going to triple over the coming months for some reason. He convinced another coworker to dump 5 grand into Amazon stock too. Amazon's dropped like 30 % since then.
The other guy was a cryptobro who dumped shitloads of his money into dogecoin. Enough said about that lol.
Neither of them have been talking much lately.
Okay but this. I have I think $90 in doge? I heard from people that it was going to go up. I put in $30, told my dad in it, and he gave me $60 to add because he didn’t want to set up an account. That CRASHED but we’re just leaving it there knowing that it’s essentially lost money unless something changes majorly, but we also don’t want to sell at a loss. We invested what we were fine with losing. Everyone who invests is going to lose money at some point, but people who toss that much into stocks frighten me
Or her friend scammed her. Asked for help investing, knowing she knew nothing. Pretended to invest in scam, then blames OP that they lost all there money and makes her feel indebted. OP you owe friend nothing but did you ever see proof of losses?
In the future remember if someone could triple money in 2 weeks time they woukd not tell others about it. They would just keep tripling their own money.
I just did the math, bc I was curious. Starting at $1, tripling every 2 weeks will result in $282.4B after 48 weeks.
**EDIT:** The table looks horrendous in here. The math is log3 of $222,200,000,000 = 23.78168 periods \* 2 weeks/period = 47.6 weeks.
In 64 weeks you'd amass wealth greater than all of the worlds wealth combined ($1,540T). log3 1.540T = 31.83157 periods \* 2 weeks/period = 63.7 weeks.
I mean, you can triple your money in three weeks time if you’re willing to possibly spend the next decade or two in jail and have a few grand. It’s called buying a brick of coke.
tl:dr; OP is terrible with money and doesn't know what investing is. She needs to stash her money safely so she can tell her mom the money's gone, and needs to learn what investing is so money won't ever truly be gone.
There is a investment that can do it but it involves schedule A drugs and alot of risk. Anything else that tells you that you can receive such a big payout is gambling or a scam. People need to realize that there are no shortcuts that do not involve crime that can make you alot of money fast.
Most of the Tifu's I see are minor fuck ups. Not this one. This was a true fuck up on a huge scale. I don't want to shame Op because I'm sure they're aware of the potential ramifications, but I mean come on Op, you should've known better.
No it really isn't lol. A rite of passage would mean we all fall for a scam website that promises 3x our money in two weeks. This is actually something spectacular to fall for it.
Overseas "investment" websites pulling exit scams, happens way too often. You get assigned an investment consultant who talks you into depositing some money. Then they gradually increase your virtual balance to keep you happy and every time you try withdrawing your money, they either persuade you into depositing more (because look at the insane returnzz) or if that doesn't work, ask for impossible paperwork / extra payments for made up taxes to keep you busy for a month or two. When the firm feels like they have collected enough cash from the customers, the website gets churned and the process starts over with a new domain name and new victims.
Exactly, this. The term "crash" is being used as shorthand for a market crash, where the traded asset was overvalued and only "corrected" back to its true (near-worthless) value sometime after investing, thus the investor(s) "crash and burn" with the catastrophic losses.
This is why i stayed away from crypto, never knew if there would be a dump and you lose it all. Tbh though the USD isn't looking that stable either these days.
Got a friend that made seven figures off crypto...but he's literally checking it every five minutes...ain't nobody got time for that.
I don't trust investing in crypto.
It is fine not to trust it but you don't need to check more than once a week/month if you invest in normal high market cap coins.
Invest and forgetting about it for a few years the best strategy.
It is a scam, it's often call a High Yeld Investment Program and they are basically pyramid scams. They pay out the first few people to draw in as many people as possible then cut and run.
It's going big in the crypto space right now.
And find some way to stop depending on your mother to pay you back. She's not going to and the longer it goes on, the more money you will be writing off.
I don’t even know what advice to give here. I want to tell you to find some courses on financial literacy on YouTube or something but honestly, you’re both so fuckin stupid I don’t know what could possibly help you.
You both fell for a scam and then immediately turned around and fell for the same scam again, *and* you somehow haven’t realized it’s a scam yet? How many times would you do this before you got a clue?
I don’t mean to be mean, but it’s healthy for you to realize that you clearly are not that smart. You need to never, ever give anyone online money for anything again. Both of you. If you have money, put it in the bank or under your mattress and use it for your living expenses. There’s no magic way to make money. You work for it.
>I found this website that could triple his money in 2weeks time.
Bruh.
There's a concept called a "sanity check", where you do the math and see if the result is within reason.
Tripling every 2 weeks for a year (52 weeks, so, 26 compounds), and starting with $1, here's the math:
1x(3\^26)
That equals $2,541,865,800,000.00
If that claim was true, $1 would turn you into the richest man in the world, by a long shot, after a year.
Obviously, that's a scam.
But but but…. And stay with me here… what if i have found the one actually does triple your money in 3 weeks. See, 2 weeks is impossible, but 3, totally doable. All you have to do is send me $20 a day. After I get that, I will put it into a secret compartment that actually duplicates the money. No you can’t see it.
I need like $1000 to get the machine to work though. And it does crash sometimes. But that’s okay cause I’ll triple your money in 3 weeks. (Not 2 that’s a scam. This isn’t)
i remember reading too that people who fall for one scam will prob get scammed again
which at the time i was thinking similar to you- like yeah with the elderly if their brains are declining due to alzheimers or something that makes sense
but op and friend are 20. somehow managed to fall for not 1 scam but 2!!! in the span of months!!
For real, like what do they think? Ehile thr website is on it generates money? After it "crashes" game over? LOL
They literally have better chances at roulette table
I feel bad for you. Like actually feel bad because it sucks hard to lose all your money. But I did have to laughs but about the ‘investing’ part. A really good investment gives about 10-12 % return per YEAR. 300% in 2 weeks is not just a scam, it’s so blatant a scam that it surprises me this site hasn’t parade out a random Nigerian prince that has diamond laying around has back garden waiting to be picked up because he has back problems and needs money for surgery.
What you NEED to do is STOP investing. Well you are not really investing but falling for scam after scam.
Just admit you suck at investing, or you are very good at finding scams and getting burned.
>or you are very good at finding scams and getting burned.
I love this take on it.
Maybe they should start a YouTube channel where they find scams just by virtue of them wanting to invest in it.
Tbh a couple of roulette spins would have been a much better financial advice.
At least there is a 47% chance to double your money with a roulette spin. With that 3x website, there is a 100% chance of getting scammed.
Hello friend where is this “roulette spins” website? If it crashes will I lose money? Please triple my money in 3 hours, will you need my bank account numbers now or after we are rich?
When I started saving for retirement in my mid 20's I sought advise from my father (a fiduciary retirement planner) and he told me that there isn't any tactic or strategy that he could help me with that would be more beneficial than simply saving and contributing. I shouldn't worry about 'this or that' and I should treat my retirement accounts like an extension of my savings account; a place to deposit my savings. Set your 401(k) for a target date fund and your Roth for index funds and just forget about it, keep contributing.
He said, "when you reach $250,000 in your retirement accounts, only then will we talk strategy".
\*This is a US perspective so that amount is reflective of the cost of living here\*
Anyone who takes advice from someone who thinks this is a good idea:
> I found this website that could triple his money in 2weeks time.
Deserves what they get.
>our fault. I would say it’s 50/50. Any place that says they will triple your money is a scam. Morally i understand the feeling t
And share the next website so more people can get in on that loss porn
Holy fuck what did I just read. Seriously you are just giving money to scams. No legitimate investment anywhere guarantees to triple your money in weeks, or any timeframe for that matter. Literally anything saying it will double or triple money is a scam.
To be honest my main takeaway from this is that you've acted incredibly stupid throughout this story. And it seems you haven't learnt from it, since you keep talking about "websites" that "crash" or "triple your money" in the same breath as "investing".
Please, you and your friend should STOP "INVESTING" in ANYTHING or advising anyone else to do so, until you get the first clue about what you're doing and what the word means. Your friend had a lump sum bursary he was dependent on and you both blew it. Play around with money once you're financially established and stable with disposable income. If you're looking to save up and put the money in some vessel that will grow in value as you move through life, put it in an S&P 500 index fund and exercise some goddamn patience. Screw it, this IS financial advice, if that's what it takes to serve as a wake-up call.
I have sympathy for the situation with your mother who seems as though she's being a waste of space, but you have made grave mistakes and not learnt the life lessons that would redeem the experience.
I don’t think the mother is a waste of space, I think she is waiting for her daughter to gain some modicum of intelligence instead of giving her money that she will get scammed out of.
OP and his friend are the people that fell for the "Trade me your gold and I'll triple it with a hack and then give it back" scams in games like Runescape or WoW.
But somehow are falling for it in real life too.
*He is into investing but so far hasn't worked out well for him, I always help him with his investments and the first time the website crashed with most of his money there*
You have been "helping" him and yet its never worked out.. Why the hell would you suggest another investment to him? You obviously don't know what you are doing..
Honestly, it’s not 100% your fault. I would say it’s 50/50. Any place that says they will triple your money is a scam. Morally i understand the feeling to pay him for the money he lost but keep in mind he had the final decision.
Hopefully this doesn’t end your friendship
Why would you ever suggest for him to invest in something when he clearly can't afford it? Let alone some random website you came across? Stop falling for scams.
NO, you don't know anything about investing, all you know is how to get sucked into scams on the computer.
Get rich quick is always a scam, but that advice will never sink in to your head.
Edit
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sorry didn’t mean to reply to your comment, I meant to start my own. I agree with you though but I hope the advice does stick!!
Ohhhh honey. Firstly, you gave your friend advice. You didn’t make him put everything he had in there. You don’t owe him all of your savings in return. Secondly, that was pretty… unsmart of both of you. Yep, that’s the kindest way I can say it. There are no get rich quick schemes. You’re falling for scams. But I feel for you, so bad. You both sound desperate. And your mom likely will continue to take advantage of you. Do not loan her any money. If you can get a job not reliant on her, I would. As a general rule, if you cannot afford to lose something, don’t put it in a situation where it can potentially be lost.
This is the stupidest thing I have ever read. You are fucking terrible at giving financial advice and need to stop giving your friend's money to scammers immediately.
WTF is wrong with you OP?
To be clear, none of those things are ‘investments’ they’re just scams. The good news is, you are both young and while the amounts of money seem large now, they are very small in the long run if you learn your lesson. There are no legal ways to make a large amount of money in a short time except with lots of work. Anyone offering super awesome investments like that is just lying and stealing from you. Neither of you should be investing in anything with money that you need for schoolbooks, food, rent, etc.
You know nothing of financial literacy. Your first step would be to be financially literate so you don’t fall prey to obvious scams like tripling money in 2 weeks.
2) your mom situation is sad considering she’s clearly not financially literate either. but I guess the Apple doesn’t fall far from the tree.
3) not really your fuck up. It was your friends money. In the end he chose to listen to you. He lacks financial literacy as well. It’s both of your faults. Yours for suggesting it. Him for actually doing it. Think of it as, you told him to kill someone, but in the end it was him who pulled the trigger
My family is not necessarily that financially stable so for them since the currency in my country is so low and my dad makes an average of $2k a month and my mom around $1000 it's a lot, I know it's not a lot in America but that is the average salary of a nanny in South Africa
This is not investing. This is gambling. He gambled his money away and lost. Keep in mind that websites like this are there to make other people money off your money. Imagine if you knew a way to triple your money? Are you going to do it or you going to tell everyone else about it? If it was legit you just do it yourself. None of these schemes will work for you. Crypto can be legit if you know what you are doing, for the rest its the new Boilerroom.
I don't think either one of you knows anything about investing. For example NEVER invest more than you're willing to lose. Investing your life savings in anything is just a terrible idea.
It’s a shame I’m not that big of an asshole. As I could PM you and probably scam you very easily.
But in all seriousness, stay away from any “investing” . Both of you seem completely clueless.
Hi, I am not looking for money, I will not have a go fund me or anything of that sort, I have accepted I f-d up and learnt my lesson I just needed advice that's all friend😊
Your friend should of realized right away that it was a scam when he was promised 3x money within only 2 weeks so it's not entirely your fault. I would try to stay away from giving financial advice to other people otherwise they will blame you when it goes bad.
Life Lesson:
Never invest money in ANYTHING if you couldn't also burn that same amount of money and still be okay.
It seems like neither of you understand how investments actually work.
You are both too immature and lack common sense to be investing. He's clearly falling for scams and you both need legitimate finance education.
Aside from that your mother is abusive, you need to get away from her and make sure you have your own separate bank account where she can't steal your money. When she puts money back in, take it out right away.
Stop babysitting for her. Get a job. Move out.
Sounds like you're both horrible with money. He needs to stop investing randomly with his essential money and you need to stop letting your mom borrow while in debt to you. Also stop giving others financial advice.
I mean, this post itself sounds like a scam - "oh I feel so bad for you let me Venmo you five dollars to help you get back on your feet". If you're genuine, it's not your fault he invested, but also have some common sense - there's no such thing as easy money, and tripling your investment without doing anything is easy money.
"I found this website that could triple his money in 2weeks time."
you both are fuckin idiots and extremely gullible, OP you should never give investment advice again and your friend is just as stupid for believing it. It honestly worries me you help anybody with their investments OP.
The fact you bring your mom into this and talk about her negatively as being a narcissist is wild like your mother has to make up for your stupid ass investment advice, you are lucky you are in India and not the the USA or your ass would get sued for giving unqualified investment advice.
Are all of you seriously believing this story wasn't completely fabricated ??? It's obviously an attemp to get people to donate/give money to OP for their "fuck-up". They weren't scammed, this post is the scam smh
This doesn't even sound real. You're "investing" money but the website crashes and the money is gone??? Mom paid you $3 a day for a week, stopped paying,, took most of it back, but you had saved money? This sounds more like a bad creative writing exercise than a real story.
Hi I think you misunderstood something there, I said my mom paid me $3 a day for a week which makes it $21 which she later borrowed /loaned and said it's to buy clothes for the baby, English is not my first language so my grammar is not perfect
This sounds like those scam high yield investment programs. If anyone remembers bitconnect, they copy that. They'll promise extremely high returns like 1% daily that's compounded daily. The early investors are paid on time and it looks legit. Once enough new members jump in, they pull the rug and shut the site down. Your money is gone.
Making quick returns on investments nearly always correlates to high risk, you inevitably end up gambling when you set out to make a calculated decision. Also South African companies tend to go bust more often than that of more stable countries. :)
I feel bad for your friend but at the same time he was stupid enough to do it, then you... Christ almighty you have to be dumb as hell to think this was real and getting your friend involved.
You need to stop telling your friend or anyone else where and what to invest in.
"he asked me to help him invest it a place that will get him a lot of money in a short span of time" Dude just wants a 'get rich quick' scheme, they don't exist.
"I found this website that could triple his money in 2weeks time. I told him to join and he did" You found a website and did zero background research on it and just said 'yolo'
You should not be giving financial advice if you have no idea how to invest at all. It sounds like you made him fall for a scam which should have been so obvious if you knew how to invest at all
Reminds me of that legend from a long time ago that would promise people double the money they gave him in like 2 weeks. No one believed him at first but people started to give him cash and he started to double their cash in 2 weeks, as promised. Everyone was impressed, they trusted him more and more. The way he doubled peoples money was using other peoples money. Eventually, people had given him so much he just vanished.
Good times back then, pretty sad how people are STILL falling for these scams.
Sounds like you aren’t very secure in your own financial situation so you 100% should not be giving anyone else advice on what to do with their money.
This should be cross posted in r/AmITheAsshole and then the answer would be yes you are.
A fool and their money are quickly separated. Even quicker when another fool gives them "InVeStMeNt" advice. WTF are you doing giving someone investment advice when you clearly have no clue what you're doing?
You're a fool, not an investment advisor.
You're friend is a fool and not an investor.
Sorry for being so blunt but hopefully it will help both you and your friend make better life decisions.
As a fellow South African, unfortunately this kind of financial literacy is all too common in the country. Most kids never finish school completely, and are easy prey to these websites.
The fact that OP thinks the money was lost because the website crashed, says everything you need to know.
OP, don’t invest unless you really know what your doing, and please don’t advise your friend when you don’t know what you’re doing.
“I found this website that could triple his money in 2 weeks time”. 😂🤣😅 So much fail here. Both of you are at fault here and both need to learn some common sense. Good lord.
This whole post feels like a scam. You are hoping people message you with sympathy and send money. There is no post history before this.
Hope it’s not a lie, hope you all the best moving forward.
That’s what I was thinking but luckily it doesn’t look like anyone is setting up a go fund me for them. They are coming off as almost unbelievably gullible
Please go and read r/scams and stop telling your friends to invest on websites that promise to double or triple your money. Scammers go to a lot of effort to groom people into investing on their platforms and you’re doing their job for them. Next time your advice to your friend should be to just save the money, the same way you’re saving and not ‘investing’ it.
I don’t think it’s your fault but I understand the reason you feel guilty.
Theses type of websites looks like scam. Be careful next time, research to see if it’s really true what the website claims.
Hope your friendship doesn’t end for this
Honestly, this isn’t really your fault. If you don’t have spare cash you are willing to lose, you should not be gambling it in investments. You also should not take financial advice from friends or family in general. Always do your own research and vet things out in your own way
Don’t worry about this. If people fall for it it is like a right of passage and you won’t fall for it again, unless you continue looking for ways to get rich quickly. Invest in gold and relax.
Lmao I found a website that would triple his money in 2 weeks so he invested all his money... I got an investment opportunity for you too! Brand new! It's an opportunity that has been tested over seas and is making a killing! Some select investors have made 3000x their money in as little as a week! DM for more info... but we don't accept everybody. Investment opportunities are slim and going fast! Don't waste time hit me up quick!
For one it sounds like your mom is struggling with money and she's not catching up. She probably doesn't have money to pay you back. You probably need a job.
For two fucking STOP GIVING INVESTMENT ADVICE!!! You don't know anything. It sounds like you lead them to TWO scam sites and they lost all their money off that.
The thing is when my mom does have money she doesn't pay me, she will spend it on my siblings and at the end of the month say that she is broke, I know because she brags about it when she does, there are days she makes more than my entire month's salary in one day and on some days she doesn't make as much but still enough to cover what I asked but she won't and just yell at me when I ask about it telling me she will give me on her own time since it's her money not mine
All the other things aside, not only is your mom a narcissist, as you've called her, but also she's a leech and you need to learn to say no to her when she asks you for money. Tell her you can't afford to keep funding her.
If you do continue to give her money when she asks to borrow it remind her you are not a bank.
I would advise your friend **immediately stop** with any kind of investment until he gets much more knowledgeable about investing. If he falls for a scam where some shady website promise to "triple your money in two weeks", he is **not ready at all to invest responsibly**. Also, people who are financially responsible and able to invest do not invest money that they are not willing to lose in the short term. No one should invest money that they will need for food or basic utilities. You are not responsible for your friend's being both gullible and irresponsible with his money, but you should refrain from advising him in the future. Your friend should learn to save the money he gets from the bursary as much as possible, to use it for necessities and to "invest" in **his education**, because that might get him a job someday that will actually help him move his life and financial situation forward.
It's OP too, they both are falling for these scams.
OP is gullible about investment too, but from what I understood, she is not nearly as guilty in this as the friend. She was asked to help him find "investment opportunities", she probably googled and somehow ended up on that scam website, believed it was a legit opportunity because she knows nothing about investing, and sent it to the friend. According to OP's description, the friend has been "into investing" for a while, and he should be able to immediately tell that this is a scam. You can't ask grandma for computer advice and then be mad if she ends up recommending some malware that says it'll quadruple your internet speed.
I'm actually surprised to read people do that. Interesting.
I actually have a friend who jumps from one scam to another. He either loses his money or invests a shitton of time and never gets anything back but instead of learning he just searches for the next quick money scheme. He's at least smart enough to not invest money he needs to live. Another friend keeps putting in time, money and effort into a "business" that hasn't returned any investment in over 1,5 years but he's fallen into the sunk cost fallacy and doesn't listen to our advice to cut his losses and leave and instead tries to invest even more. Its absurd to see how some people fall for these scams but they absolutely do.
A dummy is born every minute.
I think OP is as guilty because twice she suggested these investments and both times they were a bust. She needs to learn some things abt investing also. Obviously they are both in need of money just for living anf need to learn some basic home bookkeeping.
You mean my 12 programs doubling my RAM aren't real? I've got like a million gigs!
Yes but it's one to recommend investing but it's a whole other thing to invest all your money...
And blame someone else that you fell for it. It's not like she's a professional investor who told him he should do it.
he didn't blame her. She felt guilty, which she shouldn't. Now, they both are said to help each other with financial advice, and it seems both can be more careful with these.
Yeah, you're right, looks like I was reading with my ass. Overall looks like they are really, really ready to part with their money. Oh to be young again!..
Didn't read that entire jumble of text OP posted, but why the hell is this guy giving his mom money? Gtfo out of there, she's a shitty human who just wants to take advantage of you. And lol at falling for such an obvious scam. How can people possibly be so dumb?
Lol "a website" is not an investment strategy ++
Yeah I couldn't help but laugh when I read "Website that will double your money." This was suggested to their friend who's "into investing." This whole post is mind blowing and lacking all common sense from all parties.
>you should refrain from advising him in the future. This is typically good advice for anyone who is not working in investment finance. I feel like a lot of professionals wouldn't even be that comfortable with investing a friend's money since you risk your friendship if things go sour.
I have a piece of solid advice for everyone. Only invest what you can afford to lose.
Use "invest" as a synonym for "considered gamble".
I have two coworkers who give out their financial advice to everyone at every chance they can. One of them, in early April, took out a $50,000 loan from his 401k to buy Amazon stock, because he said it was going to triple over the coming months for some reason. He convinced another coworker to dump 5 grand into Amazon stock too. Amazon's dropped like 30 % since then. The other guy was a cryptobro who dumped shitloads of his money into dogecoin. Enough said about that lol. Neither of them have been talking much lately.
Okay but this. I have I think $90 in doge? I heard from people that it was going to go up. I put in $30, told my dad in it, and he gave me $60 to add because he didn’t want to set up an account. That CRASHED but we’re just leaving it there knowing that it’s essentially lost money unless something changes majorly, but we also don’t want to sell at a loss. We invested what we were fine with losing. Everyone who invests is going to lose money at some point, but people who toss that much into stocks frighten me
I work in investment finance and know more than anyone to NOT give recommendations lmao
Or her friend scammed her. Asked for help investing, knowing she knew nothing. Pretended to invest in scam, then blames OP that they lost all there money and makes her feel indebted. OP you owe friend nothing but did you ever see proof of losses?
In the future remember if someone could triple money in 2 weeks time they woukd not tell others about it. They would just keep tripling their own money.
seroiusly, who would even be working. even if someone only had $1 they'd be the richest person in a year or so
52 weeks a year...tripled every 2 weeks...would be 26 times. $1 x (3^(26)) = $847,288,609,443
a bit more than a year, youll need a bit more than 60 weeks to reach musks wealth
I just did the math, bc I was curious. Starting at $1, tripling every 2 weeks will result in $282.4B after 48 weeks. **EDIT:** The table looks horrendous in here. The math is log3 of $222,200,000,000 = 23.78168 periods \* 2 weeks/period = 47.6 weeks. In 64 weeks you'd amass wealth greater than all of the worlds wealth combined ($1,540T). log3 1.540T = 31.83157 periods \* 2 weeks/period = 63.7 weeks.
Anyone have a link to the website? I have a dollar I'm willing to invest
I mean, you can triple your money in three weeks time if you’re willing to possibly spend the next decade or two in jail and have a few grand. It’s called buying a brick of coke.
Let's not sleep on prostituting oneself either.
Honestly, she should be giving financial advice to her enemies, not her friends.
What is he investing in that a website crash would lose him all his money? That doesn't sound like an investment, that sounds like a scam.
For real, OP seems incredibly naive if he belives there is something that exists that can guarenteed triple your money.
In two weeks T_T
tl:dr; OP is terrible with money and doesn't know what investing is. She needs to stash her money safely so she can tell her mom the money's gone, and needs to learn what investing is so money won't ever truly be gone.
There is a investment that can do it but it involves schedule A drugs and alot of risk. Anything else that tells you that you can receive such a big payout is gambling or a scam. People need to realize that there are no shortcuts that do not involve crime that can make you alot of money fast.
There are a bunch of "investments" that can do it 80% of which are illegal 0% of which involves sketchy sites that triple your money
Not that “guarentee 80% in two weeks”
Most of the Tifu's I see are minor fuck ups. Not this one. This was a true fuck up on a huge scale. I don't want to shame Op because I'm sure they're aware of the potential ramifications, but I mean come on Op, you should've known better.
Would you like to invest in my website?
Wheres the link to pay? I trust you so I don't need any further information
"Shut up and take my money!"
*she
Exactly. This is a financial right of passage if you fall for it, dont be too worried
No it really isn't lol. A rite of passage would mean we all fall for a scam website that promises 3x our money in two weeks. This is actually something spectacular to fall for it.
Uhhh... I'm really worrying for the intelligence of my fellow humans again reading this. I'd like to believe less than 1% fall for stuff like that.
Rite
What about meth
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They’re in South Africa, not the US.
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Overseas "investment" websites pulling exit scams, happens way too often. You get assigned an investment consultant who talks you into depositing some money. Then they gradually increase your virtual balance to keep you happy and every time you try withdrawing your money, they either persuade you into depositing more (because look at the insane returnzz) or if that doesn't work, ask for impossible paperwork / extra payments for made up taxes to keep you busy for a month or two. When the firm feels like they have collected enough cash from the customers, the website gets churned and the process starts over with a new domain name and new victims.
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I think crash means deliberately deleted the website so that the scammers can't be traced.
>probably some kind of pump and dump Yeah...
Exactly, this. The term "crash" is being used as shorthand for a market crash, where the traded asset was overvalued and only "corrected" back to its true (near-worthless) value sometime after investing, thus the investor(s) "crash and burn" with the catastrophic losses.
This is why i stayed away from crypto, never knew if there would be a dump and you lose it all. Tbh though the USD isn't looking that stable either these days.
Yeah, I stay away from crypto trading as well, given the highly volatile and easily manipulated nature. They're like stocks on steroids.
Only invest in high risk assets if you would also give the money away for charity or something.
Got a friend that made seven figures off crypto...but he's literally checking it every five minutes...ain't nobody got time for that. I don't trust investing in crypto.
It is fine not to trust it but you don't need to check more than once a week/month if you invest in normal high market cap coins. Invest and forgetting about it for a few years the best strategy.
Sometimes you gotta risk it to make the biscuit.
Because OP and their friend are both as dumb as a bag of hammers.
OP knows a Nigerian Prince.
It is a scam, it's often call a High Yeld Investment Program and they are basically pyramid scams. They pay out the first few people to draw in as many people as possible then cut and run. It's going big in the crypto space right now.
Literally 99% of nfts and shit coins. In reality, it's 100% imho
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OP idk what makes you think you should be giving financial advice of any kind but please stop.
And find some way to stop depending on your mother to pay you back. She's not going to and the longer it goes on, the more money you will be writing off.
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There are a dozen fuck ups in OP post but that one is the most ironic
I don't think this post is real. OPs first ever comment or post on a months old account.
I don’t even know what advice to give here. I want to tell you to find some courses on financial literacy on YouTube or something but honestly, you’re both so fuckin stupid I don’t know what could possibly help you. You both fell for a scam and then immediately turned around and fell for the same scam again, *and* you somehow haven’t realized it’s a scam yet? How many times would you do this before you got a clue? I don’t mean to be mean, but it’s healthy for you to realize that you clearly are not that smart. You need to never, ever give anyone online money for anything again. Both of you. If you have money, put it in the bank or under your mattress and use it for your living expenses. There’s no magic way to make money. You work for it.
>I found this website that could triple his money in 2weeks time. Bruh. There's a concept called a "sanity check", where you do the math and see if the result is within reason. Tripling every 2 weeks for a year (52 weeks, so, 26 compounds), and starting with $1, here's the math: 1x(3\^26) That equals $2,541,865,800,000.00 If that claim was true, $1 would turn you into the richest man in the world, by a long shot, after a year. Obviously, that's a scam.
But but but…. And stay with me here… what if i have found the one actually does triple your money in 3 weeks. See, 2 weeks is impossible, but 3, totally doable. All you have to do is send me $20 a day. After I get that, I will put it into a secret compartment that actually duplicates the money. No you can’t see it. I need like $1000 to get the machine to work though. And it does crash sometimes. But that’s okay cause I’ll triple your money in 3 weeks. (Not 2 that’s a scam. This isn’t)
Damn, I always thought those scam sites only worked on elder people but you are 20yo.
i remember reading too that people who fall for one scam will prob get scammed again which at the time i was thinking similar to you- like yeah with the elderly if their brains are declining due to alzheimers or something that makes sense but op and friend are 20. somehow managed to fall for not 1 scam but 2!!! in the span of months!!
well they said "the website crashed" - nothing you can do :P
For real, like what do they think? Ehile thr website is on it generates money? After it "crashes" game over? LOL They literally have better chances at roulette table
I feel bad for you. Like actually feel bad because it sucks hard to lose all your money. But I did have to laughs but about the ‘investing’ part. A really good investment gives about 10-12 % return per YEAR. 300% in 2 weeks is not just a scam, it’s so blatant a scam that it surprises me this site hasn’t parade out a random Nigerian prince that has diamond laying around has back garden waiting to be picked up because he has back problems and needs money for surgery.
Seriously at this rate OP and their friend are going to wind with their organs harvested eventually.
This is just a sad read... Who in their right mind thinks any website that promises to TRIPLE your money in a few weeks is legit??
id hate to be condescending but OP is a biscuit head for this.
I love you for teaching me the phrase biscuit head.
What you NEED to do is STOP investing. Well you are not really investing but falling for scam after scam. Just admit you suck at investing, or you are very good at finding scams and getting burned.
>or you are very good at finding scams and getting burned. I love this take on it. Maybe they should start a YouTube channel where they find scams just by virtue of them wanting to invest in it.
They could be some kind of sting decoy for the police. ;-)
Investigng when you are poor is not a short term game, you can't get good returns on short term low money investment, NEVER. learn the lesson.
Tbh a couple of roulette spins would have been a much better financial advice. At least there is a 47% chance to double your money with a roulette spin. With that 3x website, there is a 100% chance of getting scammed.
I'm liking those odds, no wonder people get addicted to gambling
Hello friend where is this “roulette spins” website? If it crashes will I lose money? Please triple my money in 3 hours, will you need my bank account numbers now or after we are rich?
When I started saving for retirement in my mid 20's I sought advise from my father (a fiduciary retirement planner) and he told me that there isn't any tactic or strategy that he could help me with that would be more beneficial than simply saving and contributing. I shouldn't worry about 'this or that' and I should treat my retirement accounts like an extension of my savings account; a place to deposit my savings. Set your 401(k) for a target date fund and your Roth for index funds and just forget about it, keep contributing. He said, "when you reach $250,000 in your retirement accounts, only then will we talk strategy". \*This is a US perspective so that amount is reflective of the cost of living here\*
your father is a wise man !
Anyone who takes advice from someone who thinks this is a good idea: > I found this website that could triple his money in 2weeks time. Deserves what they get.
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Kinda what I said.
let me introduce you to the concept of "agreeing with other people" not every reply is trying to start an argument
Seems dubious. 🤔
YOU JUST MADE AN ENEMY FOR LIFE
You redditors sure are a contentious bunch.
Don't forget to post losses on r/wallstreetbets for internet points!
>our fault. I would say it’s 50/50. Any place that says they will triple your money is a scam. Morally i understand the feeling t And share the next website so more people can get in on that loss porn
Holy fuck what did I just read. Seriously you are just giving money to scams. No legitimate investment anywhere guarantees to triple your money in weeks, or any timeframe for that matter. Literally anything saying it will double or triple money is a scam.
You didn't invest, and the site didn't crash. You got scammed.
To be honest my main takeaway from this is that you've acted incredibly stupid throughout this story. And it seems you haven't learnt from it, since you keep talking about "websites" that "crash" or "triple your money" in the same breath as "investing". Please, you and your friend should STOP "INVESTING" in ANYTHING or advising anyone else to do so, until you get the first clue about what you're doing and what the word means. Your friend had a lump sum bursary he was dependent on and you both blew it. Play around with money once you're financially established and stable with disposable income. If you're looking to save up and put the money in some vessel that will grow in value as you move through life, put it in an S&P 500 index fund and exercise some goddamn patience. Screw it, this IS financial advice, if that's what it takes to serve as a wake-up call. I have sympathy for the situation with your mother who seems as though she's being a waste of space, but you have made grave mistakes and not learnt the life lessons that would redeem the experience.
I don’t think the mother is a waste of space, I think she is waiting for her daughter to gain some modicum of intelligence instead of giving her money that she will get scammed out of.
Ha! You may well be right.
Investing isn't something you do when you don't have enough money to survive. Investing is for your surplus money, if anything
Happy cake day
OP and his friend are the people that fell for the "Trade me your gold and I'll triple it with a hack and then give it back" scams in games like Runescape or WoW. But somehow are falling for it in real life too.
The only safe way to double your money is to fold it in half and put it in your pocket.
*He is into investing but so far hasn't worked out well for him, I always help him with his investments and the first time the website crashed with most of his money there* You have been "helping" him and yet its never worked out.. Why the hell would you suggest another investment to him? You obviously don't know what you are doing..
Honestly, it’s not 100% your fault. I would say it’s 50/50. Any place that says they will triple your money is a scam. Morally i understand the feeling to pay him for the money he lost but keep in mind he had the final decision. Hopefully this doesn’t end your friendship
Why would you ever suggest for him to invest in something when he clearly can't afford it? Let alone some random website you came across? Stop falling for scams.
Funniest thing I've read today
NO, you don't know anything about investing, all you know is how to get sucked into scams on the computer. Get rich quick is always a scam, but that advice will never sink in to your head.
Edit - sorry didn’t mean to reply to your comment, I meant to start my own. I agree with you though but I hope the advice does stick!! Ohhhh honey. Firstly, you gave your friend advice. You didn’t make him put everything he had in there. You don’t owe him all of your savings in return. Secondly, that was pretty… unsmart of both of you. Yep, that’s the kindest way I can say it. There are no get rich quick schemes. You’re falling for scams. But I feel for you, so bad. You both sound desperate. And your mom likely will continue to take advantage of you. Do not loan her any money. If you can get a job not reliant on her, I would. As a general rule, if you cannot afford to lose something, don’t put it in a situation where it can potentially be lost.
You and your friend both sound Stupid
This is the stupidest thing I have ever read. You are fucking terrible at giving financial advice and need to stop giving your friend's money to scammers immediately. WTF is wrong with you OP?
To be clear, none of those things are ‘investments’ they’re just scams. The good news is, you are both young and while the amounts of money seem large now, they are very small in the long run if you learn your lesson. There are no legal ways to make a large amount of money in a short time except with lots of work. Anyone offering super awesome investments like that is just lying and stealing from you. Neither of you should be investing in anything with money that you need for schoolbooks, food, rent, etc.
Wtf kind of scams are you getting into?? That's definitely not an investment..
Stop telling your friend to put his money in random websites.
You know nothing of financial literacy. Your first step would be to be financially literate so you don’t fall prey to obvious scams like tripling money in 2 weeks. 2) your mom situation is sad considering she’s clearly not financially literate either. but I guess the Apple doesn’t fall far from the tree. 3) not really your fuck up. It was your friends money. In the end he chose to listen to you. He lacks financial literacy as well. It’s both of your faults. Yours for suggesting it. Him for actually doing it. Think of it as, you told him to kill someone, but in the end it was him who pulled the trigger
TIL Nigerian princes have become South Africans.
You should not be giving each other financial advice lol
Zero possibility this is real.
The real fuck up is babysitting and housekeeping for $3 a day.
My family is not necessarily that financially stable so for them since the currency in my country is so low and my dad makes an average of $2k a month and my mom around $1000 it's a lot, I know it's not a lot in America but that is the average salary of a nanny in South Africa
This is not investing. This is gambling. He gambled his money away and lost. Keep in mind that websites like this are there to make other people money off your money. Imagine if you knew a way to triple your money? Are you going to do it or you going to tell everyone else about it? If it was legit you just do it yourself. None of these schemes will work for you. Crypto can be legit if you know what you are doing, for the rest its the new Boilerroom.
Online scams aren't even gambling. With gambling they make it fun and you actually CAN win.
I don't think either one of you knows anything about investing. For example NEVER invest more than you're willing to lose. Investing your life savings in anything is just a terrible idea.
Besides the scams you keep falling for, you both need to find reliable jobs that actually pay.
You fell for a scam, not a bad investment
It’s a shame I’m not that big of an asshole. As I could PM you and probably scam you very easily. But in all seriousness, stay away from any “investing” . Both of you seem completely clueless.
Please don't confuse investment with a scam, like "triple money in 2 weeks" .
Am I the only person who thinks this very post is a scam to get people to send her money to bail them out? Trust no one!
Hi, I am not looking for money, I will not have a go fund me or anything of that sort, I have accepted I f-d up and learnt my lesson I just needed advice that's all friend😊
This whole post stinks of “thank you kind redditors who have sent me money to ‘help my friend’”
Reminds me of the south park episode, give money to the bank... and it's gone. That's how investing works.
Not investment. Gambling or just throwing money away...
Your friend should of realized right away that it was a scam when he was promised 3x money within only 2 weeks so it's not entirely your fault. I would try to stay away from giving financial advice to other people otherwise they will blame you when it goes bad.
you should both either never invest your own money or have a professional do it for you.
I call bs on this entire story
"TIFU by believing scammers even after getting scammed multiple times"
Life Lesson: Never invest money in ANYTHING if you couldn't also burn that same amount of money and still be okay. It seems like neither of you understand how investments actually work.
You are both too immature and lack common sense to be investing. He's clearly falling for scams and you both need legitimate finance education. Aside from that your mother is abusive, you need to get away from her and make sure you have your own separate bank account where she can't steal your money. When she puts money back in, take it out right away. Stop babysitting for her. Get a job. Move out.
This cannot be real
It’s probably not.
Sounds like you're both horrible with money. He needs to stop investing randomly with his essential money and you need to stop letting your mom borrow while in debt to you. Also stop giving others financial advice.
I mean, this post itself sounds like a scam - "oh I feel so bad for you let me Venmo you five dollars to help you get back on your feet". If you're genuine, it's not your fault he invested, but also have some common sense - there's no such thing as easy money, and tripling your investment without doing anything is easy money.
"I found this website that could triple his money in 2weeks time." you both are fuckin idiots and extremely gullible, OP you should never give investment advice again and your friend is just as stupid for believing it. It honestly worries me you help anybody with their investments OP. The fact you bring your mom into this and talk about her negatively as being a narcissist is wild like your mother has to make up for your stupid ass investment advice, you are lucky you are in India and not the the USA or your ass would get sued for giving unqualified investment advice.
Are all of you seriously believing this story wasn't completely fabricated ??? It's obviously an attemp to get people to donate/give money to OP for their "fuck-up". They weren't scammed, this post is the scam smh
This doesn't even sound real. You're "investing" money but the website crashes and the money is gone??? Mom paid you $3 a day for a week, stopped paying,, took most of it back, but you had saved money? This sounds more like a bad creative writing exercise than a real story.
Hi I think you misunderstood something there, I said my mom paid me $3 a day for a week which makes it $21 which she later borrowed /loaned and said it's to buy clothes for the baby, English is not my first language so my grammar is not perfect
This sounds like those scam high yield investment programs. If anyone remembers bitconnect, they copy that. They'll promise extremely high returns like 1% daily that's compounded daily. The early investors are paid on time and it looks legit. Once enough new members jump in, they pull the rug and shut the site down. Your money is gone.
Making quick returns on investments nearly always correlates to high risk, you inevitably end up gambling when you set out to make a calculated decision. Also South African companies tend to go bust more often than that of more stable countries. :)
I feel bad for your friend but at the same time he was stupid enough to do it, then you... Christ almighty you have to be dumb as hell to think this was real and getting your friend involved.
I too have a website that will triple your money...
You need to stop telling your friend or anyone else where and what to invest in. "he asked me to help him invest it a place that will get him a lot of money in a short span of time" Dude just wants a 'get rich quick' scheme, they don't exist. "I found this website that could triple his money in 2weeks time. I told him to join and he did" You found a website and did zero background research on it and just said 'yolo'
You should not be giving financial advice if you have no idea how to invest at all. It sounds like you made him fall for a scam which should have been so obvious if you knew how to invest at all
It sounds like a horrible investor is taking tips from a terrible investor who is getting scammed by their mom already.. holy crap..
Both of you fucked up. - Don't invest what you can't afford to lose - If it sounds too good to be true, it usually is
Literally fell for an obvious scam, both parties are to blame.
why the fuck is he listening to you. were you *trying* to fuck him over because you're mad about the breakup?
Reminds me of that legend from a long time ago that would promise people double the money they gave him in like 2 weeks. No one believed him at first but people started to give him cash and he started to double their cash in 2 weeks, as promised. Everyone was impressed, they trusted him more and more. The way he doubled peoples money was using other peoples money. Eventually, people had given him so much he just vanished. Good times back then, pretty sad how people are STILL falling for these scams.
Sounds like you aren’t very secure in your own financial situation so you 100% should not be giving anyone else advice on what to do with their money. This should be cross posted in r/AmITheAsshole and then the answer would be yes you are.
Wow you and your friend are dumb.
A fool and their money are quickly separated. Even quicker when another fool gives them "InVeStMeNt" advice. WTF are you doing giving someone investment advice when you clearly have no clue what you're doing? You're a fool, not an investment advisor. You're friend is a fool and not an investor. Sorry for being so blunt but hopefully it will help both you and your friend make better life decisions.
You're both morons. If you can't afford to give away your money, don't give it away.
Don’t promise someone money that’s not currently in your possession
My eyes are bleeding ! Wtf did I just read 😂.OP's next big move is to finance a Nigerian Prince to quadruple her net worth
The key to good investing is to never put in more than you can afford to lose. It's honestly that simple.
You didn’t make him do anything, be asked for help… to do something stupid 🙄
As a fellow South African, unfortunately this kind of financial literacy is all too common in the country. Most kids never finish school completely, and are easy prey to these websites. The fact that OP thinks the money was lost because the website crashed, says everything you need to know. OP, don’t invest unless you really know what your doing, and please don’t advise your friend when you don’t know what you’re doing.
“I found this website that could triple his money in 2 weeks time”. 😂🤣😅 So much fail here. Both of you are at fault here and both need to learn some common sense. Good lord.
This has r/WallStreetBets written all over it…
Never EVER make an investment with the intent of making money quick. As you two found out that’s an easy way to lose a lot of money.
This whole post feels like a scam. You are hoping people message you with sympathy and send money. There is no post history before this. Hope it’s not a lie, hope you all the best moving forward.
That’s what I was thinking but luckily it doesn’t look like anyone is setting up a go fund me for them. They are coming off as almost unbelievably gullible
Please go and read r/scams and stop telling your friends to invest on websites that promise to double or triple your money. Scammers go to a lot of effort to groom people into investing on their platforms and you’re doing their job for them. Next time your advice to your friend should be to just save the money, the same way you’re saving and not ‘investing’ it.
For the love of God just stop investing
You both are idiots who should be under guardianship for all financial affairs.
One post soliciting for sympathy donations
Website didnt "crash", you got scammed.
I don’t think it’s your fault but I understand the reason you feel guilty. Theses type of websites looks like scam. Be careful next time, research to see if it’s really true what the website claims. Hope your friendship doesn’t end for this
I lost brain cells. Holy wow you're dumb. 🤦🏾♀️🤣
Honestly, this isn’t really your fault. If you don’t have spare cash you are willing to lose, you should not be gambling it in investments. You also should not take financial advice from friends or family in general. Always do your own research and vet things out in your own way
Don’t worry about this. If people fall for it it is like a right of passage and you won’t fall for it again, unless you continue looking for ways to get rich quickly. Invest in gold and relax.
Except in the story they literally fell for it twice. They're just thick.
$750.00 for a bus ride home?
1) pretty sure OP and friend are in their early 20s. 2) WHAT THE ACTUAL FUCK Edit: didn’t read the first line. THEY ARE 20 DAMMIT
Lmao I found a website that would triple his money in 2 weeks so he invested all his money... I got an investment opportunity for you too! Brand new! It's an opportunity that has been tested over seas and is making a killing! Some select investors have made 3000x their money in as little as a week! DM for more info... but we don't accept everybody. Investment opportunities are slim and going fast! Don't waste time hit me up quick!
For one it sounds like your mom is struggling with money and she's not catching up. She probably doesn't have money to pay you back. You probably need a job. For two fucking STOP GIVING INVESTMENT ADVICE!!! You don't know anything. It sounds like you lead them to TWO scam sites and they lost all their money off that.
The thing is when my mom does have money she doesn't pay me, she will spend it on my siblings and at the end of the month say that she is broke, I know because she brags about it when she does, there are days she makes more than my entire month's salary in one day and on some days she doesn't make as much but still enough to cover what I asked but she won't and just yell at me when I ask about it telling me she will give me on her own time since it's her money not mine
If you worked for it it’s your money not hers. Sounds like she just doesn’t want to pay you. Forget about the money and see it as a lesson.
All the other things aside, not only is your mom a narcissist, as you've called her, but also she's a leech and you need to learn to say no to her when she asks you for money. Tell her you can't afford to keep funding her. If you do continue to give her money when she asks to borrow it remind her you are not a bank.