by Jimmy Mengel
A few years back, a friend of mine had an opportunity to get in on the ground floor of a very promising investment…
He was poised to invest $25,000 in Chess.com, a website that teaches players “the game of kings” — and churns out some serious coin while doing so. A $25,000 investment would have netted him $500,000 — an unbelievable return by any measure.
Alas, accredited investor laws prevented him from taking advantage of the private placement, and he was left to watch helplessly as the super-wealthy bought in and cashed out.
In order to be an “accredited investor” you must either make $200,000 a year, or have at least a million bucks sitting in the bank.