In an era of pyramid schemes and internet scams, JoeCitizens.com releases its Top 10 Smart Money Tips for political contributors. “There is a lot of anxiety in the community, especially among those who have invested a lot of time, money, and watches in our elected leaders. It is important to contributors that they get what they legally paid for,” says Tom Guleff, founder of JoeCitizens.com. There are too many criminal scams going on in the community, and we can’t have those scams spill into the political arena. If you can’t trust a politician with your money, who can you trust?”
Here’s our Top 10 Tips for Political Investing:
1. Start Investing Early
Procrastination can put a big dent in your ability to influence elected officials. You can start small, but big money talks.
2. Consider the Impact of Inflation Most people tend to forget about the effects of inflation when donating to a candidate. Even a low rate of inflation adds up over several terms in office; you’ll have to give more in future dollars.
3. Make Informed Decisions It is important to take enough time to understand the elected official you are investing in so you make the right long-term decisions. If the candidate can’t be bought, don’t throw good money after bad.
4. Your first loss is your smallest loss
Don’t continue to fund candidates that can’t deliver on your “needs.”
5. Don’t bet on a long shot
Stay safe with seasoned players. Return on Investment is important when zoning issues arise.
6. Back incumbents
They have the inside track. They can also “make someone walk” during meetings.
7. In tight races, back both candidates from different parties
A great trick is to back one in the primary and the other in the general election. Although you are hedging your bet, claim one of the candidates as a friend of the family.
8. Be flexible
Be in position to jump ship if candidate stumbles badly.
9. Don’t go outside of system, stay within guidelines.
Don’t pull a Joe Cooper; a legit campaign contribution is just as effective.
10. Invest Regularly
It’s important to view campaign contributions as a process, not a one-time event.
See the best political investors in the country at www.opensecrets.org and those in our area at www.VotingInMemphis.com , www.bluecollarvoter.com (coming soon)