Look what happens when you try to help the wrong people

via I Will Teach You To Be Rich:

I got a great email from an IWT reader that made me smile. I smiled because I sensed his inevitable doom, but I wanted to try to gently guide him away from making a mistake.

In the past, I’ve written about how I don’t try to help everyone. It’s uncomfortable to admit, but some people just can’t be helped. (And if they can, it will take a lot longer than I have time for.)

And today, I want to show you a GREAT example of this.

In this email exchange, you’ll learn about an “adverse-selection” problem.

Here’s an email I got out of the blue from IWT reader Scott:

This is a classic question I get from people who want to join my courses and send me an email saying “HEY, if your courses are so great, let me try it for free and if it works, I’ll pay you a percentage of my salary.” Coincidentally, they can never afford the course. I always reject them.

My response:

Scott replies:

And we went our separate ways. Until a month later…

Some people really are just bad.

Have you ever tried to help the wrong people? Share your story in the comments below.

Look what happens when you try to help the wrong people is a post from: I Will Teach You To Be Rich.

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Personal Finance, psychology of money, rants about dumb people