Expert: Dr. Joseph de Beauchamp - 7/11/2005

Question
Aloha,

I have been told by some collegues that I should look at investing my money into a bank of another country, and that this would allow me to make a higher profit than I am currently making with my money market acount in the U.S. People tell me that others have become millionaires this way all before the ages of 30 or in the early 30's. If this is true, how does it work and do you recommend me looking more into this?

Answer
Kevin,

Alot of scams going on about overseas investing. I would not listen to this. These stories are not true, and after 32 years, I have never found them to work. I will say, however, a good solid mutual fund in international stocks will do better than just domestic. Take a look over the mutual fund section of http://wfnn.info since this is a good start for you. You can start with small amounts into a mutual fund, and at least not wind up in a scam out of Nigeria.

Dr. Joseph de Beauchamp

PS: If you hear about these get rich scams some more, tell them to show you their tax returns. That will stop the stories.