Over the last few years, the name “Bernie Madoff” and the term “Ponzi Scheme” have been used almost interchangeably. Obviously we all know that this man was a crook and that he committed a very serious act of fraud by stealing millions of dollars from trusted investors. But have you ever stopped to ask yourself just what one is or what a Ponzi Scheme example would even look like? Don’t be embarrassed if you don’t know exactly what one is. When Madoff was arrested and his wife was told about his crime, she replied “What’s a Ponzi Scheme”? As students of investing and diligent savers for retirement, it is very important that we protect our financial well-being by staying away from scrupulous investment opportunities After all, … [Read more...] about A Ponzi Scheme Example – An Illustrated Demonstration of How One Works