People are trying to blend sou sou (partner) with pyramid. Also making it personal and social.
Susu (Sousou) meetings
- Thread starter hajjibear
- Start date
Admins in those groups are making a killing
People may have good intentions on trying to make something work yet bottom line is wheels don’t turn without new blood. Pyramid.
this one offended me
I'm in one now. I've had a difficult time finding people because:
A - people are broke these days. With the pandemic a lot of people are out of work. So ask them to come up with $500 to enter , even if they're going to get 3500 on the back end, they just can't risk it
B - folks are skeptical. It may sound like a scheme, but if everybody does what they're supposed to do it is not a skin. It's 100% legit and it's tax free. Like Andy Dufresne said in Shawshank, government can't touch one cent
So this kind of opportunity is more for professionals or people not living check to check. If any of you want to get on, just let me know.
And I said, everyone has to do what they're supposed to do. Put in their $500 entry free AND bring in 2 more people. I don't know why I didn't think about coming to BGOL with this earlier this month
This is a guaranteed money maker
A - people are broke these days. With the pandemic a lot of people are out of work. So ask them to come up with $500 to enter , even if they're going to get 3500 on the back end, they just can't risk it
B - folks are skeptical. It may sound like a scheme, but if everybody does what they're supposed to do it is not a skin. It's 100% legit and it's tax free. Like Andy Dufresne said in Shawshank, government can't touch one cent
So this kind of opportunity is more for professionals or people not living check to check. If any of you want to get on, just let me know.
And I said, everyone has to do what they're supposed to do. Put in their $500 entry free AND bring in 2 more people. I don't know why I didn't think about coming to BGOL with this earlier this month
This is a guaranteed money maker
My problem is that you are not making money, there is no profit, no commodity.
it’s sharing and risky for new blood.
Failure percentage is 88 percent regardless of within 4 weeks or one year.
it’s sharing and risky for new blood.
Failure percentage is 88 percent regardless of within 4 weeks or one year.
Where did you get 88% from bro. The trouble I had was recruiting people. Not being at work I don't have access to a lot of people and my friends and family are too close minded. Even if that shit works those motherfukers wouldn't be on to it, especially my fuck ass family
Read an opinion based on the math. If you do the math you would need just short of 1000 people after 8 weeks. Otherwise the survivors have to double dip back in. It’s just math.
The one her friend was telling her about required new people to join un order for you to get paid. I already told her don't fuck with this one, it seems suspect and even more coming from this person.
Sounds like the "Gifting" scam
that people fell for back in
the 90s. Don't fall for it!
that people fell for back in
the 90s. Don't fall for it!
Got you. It's the scheme. Don't know why they try to relate it to a traditional sou sou. I honestly think that is the tactic to draw people in.
I personally know people who have been paid. Like I said, money can be made, but it is a scheme and can be here today and gone tomorrow. It's hinged solely on new people coming in. Once that stops... game over.
It’s troubling as you want to be a part of a movement and all. But the basis is off.
Take that 500 to TD Ameritrade and buy SP 500.
lol,
hey I got zero problem with that, but from my experience most of the folks willing to do a thousand a month are ballers who aint tryin to wait eight years for a pay off,
they will be willing to pay more frequently for a faster return...
they key is to get a group that agrees with the terms...
and the key to getting through the susu, is to look at the payments,
and paying a bill to yourself...
its not easy at first.... some will miss the cash, but the dope shit is, when you discipline yourself... to do more with less..
by the time your hand rolls around, you will be in the mindset, not to do stupid shit with it...
I throw eighty percent in my portfolio, ten percent to charity .
the other ten... to the enjoyment of life
Susu's have been around since before many of you were born. For some people its a good way to save money. It's a helluva obligation and there are no buts. Maybe death. They are very popular I have a buddy that asked me if I wanted to join his $500 a week susu, I passed. They work never heard of one that had a problem.
Seriously if you have the discipline to put that kind of money into a susu or whatever, you should be disciplined enough to invest that money into a mutual fund, bonds, something that will generate a return.
My boy joined one of these last month and offered me a spot, but before accepting I wanted to do the math to see how it would worked (he wasn't able to explain)...someone else quickly took my "spot" before I could decide.
It seems to me that, like you said, if you are disciplined it may be better to just save/invest on your own and have your own liquid pot with less headaches. But I can see how these would be a decent option for people who are a) bad savers or b) need a bump of cash quick and upfront to start a business or move, etc... Also seems like the more ppl involved the higher risk and reward.
I have never heard of a problem with a Susu. I've known about then since the 1970s.
Why don't you just deposit the money into a savings account?
The only way to get out more than you put in is for more people to join.
The only way to get out more than you put in is for more people to join.
Right. I think people become fixated on the lump sum number introduced at jump and don't do the math.... And this is assuming that the folks in charge are dependable and trustworthy. Too many moving parts and ifs for my hard earned money, personally. I can already feel the headache and stress of having to make sure family and friends are paying their share in a timely fashion..
That's my whole point about it. I cant take that money and put it into a high yield savings or into the stock market (ETF). Atleast it bears some yields....
It's not a bad idea for people who can not save money though.
It was originally started by people who were shunned from financial institutions.
This.
I was doing a hand for years and never once did we bring in new people.
It’s call an ESO in the Haitian community. People do it all the time. My mom used to do it. It’s already been said in here, it doesn’t require new people. A set number of people from the start contributing the same amount of money every week for a set number of weeks until the last hand is drawn. Whether you get your money first, middle, or last, you have to contribute till the last hand because that ensures everyone putting in the same amount of money. It’s just a quick easy way to save money. Can only be done with trust worthy people.
I feel you..
I understand that, but all you will ever get back is exactly what you put in. You can't get out more than you put in without new recruits. So unless you were worried about the mattress catching fire the only reason to do this is to keep the money safe.
Then you have to trust the treasurer won't amscray with the cabbage and leave everyone with zero repercussions.
You're not wrong in what you're saying, but for most, it's the "right on time" aspect of getting the money.
It's a real community based in unity. Long time friends and family.
If one of my people really needs the money for an emergency, but it's my week to receive the hand, I'll switch with them and let them have it if I can afford to do it. I've seen people do that often. At least in the one I was in.
A co-worker of mine tried to get me into this. COVID kinda fucked it up before we could get anything going though. And a few of the folks that she wanted to include aren't exactly folks i would trust to contribute on a consistent basis. Agreed with the others that a "real" sou sou (with real trustworthy folks) isnt a pyramid scheme.
My thing is that in 2020 with the banks being insured there's no reason to do this unless you're fiscally irresponsible.
It takes time to learn to say no to shit you don't need, but that's part of building wealth.
Similar threads
