Here’s something new that was emailed to me this morning, the Speed Wealth System, as soon as I saw the sales page, I’m like, “Really? Is Speed Wealthy System a scam or can it make it rain with commissions?”
So here I am, writing a review about it because I have checked it out and want to let you know what I think about it before you dive in and give them all your money.
Systems like this promises fast money with little to no work since it’s all done for you so I’m sure this sounds all nice and easy but I will uncover what’s really needed to make that kind of money.
In my Speed Wealth System review, I will take you through the following:
- What Is The Speed Wealth System
- Hidden Costs
- How It Works
- Is Speed Wealth System A Scam?
- Safer Way To Make Money Online
If you don’t want to waste anymore time on scams,
see My #1 Recommended Way of Making Money Online:
WHAT IS SPEED WEALTH SYSTEM?
Product Name: Speed Wealth System (aka Speed Wealth Commission System)
Price: $47 + Plus Tons Of Hidden Costs
Owner: Matthew Neer
Here’s a brand new product by Matthew Neer, a well known internet marketer of this type of product, and it’s called the Speed Wealth System or Speed Wealthy Commission System.
He markets it as a product for beginners and it’s a sales funnel system that you can buy to earn affiliate commissions on.
You will be using his sales funnel system to make passive income which is all hosted on their networks so there is no need to pay for hosting, domains, etc. (so he says).
His Speed Wealth System is so easy to use that it only takes 5 steps to get you to start earning:
- Login – Log into the members area and watch the welcome video to see how to get started.
- Connect Your Commission Link – He will show you were to get your commission link, get it approved and plug it into his system.
- Select a Traffic Source – You will have choices of free and paid traffic to direct visitors to your commission link.
- Point Traffic To Commission Link – With your chosen traffic source, you will then point it to your commission link so you can start earning.
- Sit Back, Relax, & Make Commissions – Here you will watch your dollars roll in while sipping your favorite cocktail or choice of beverage.
He promises this can take a newbie to $10K a month with his system and while this sounds all great, I still had my reservations.
Affiliate marketing is a great business model to make money online with but when used this way, I find it a very risky way to do business, which I’ll go into more below.
This kind of system is not new and many lower quality products and scams use this method.
The Speed Wealth System utilizes not only affiliate marketing but email marketing and list building.
Although I have nothing against list building and email marketing, which I use myself, but these things should be part of a well rounded online business, not just by itself.
As well, using affiliate marketing this way, you will not get the full potential from this business model doing it this way than if you were to build a real online business with it.
Luckily, this is sold on Clickbank, and while Clickbank is known for low quality products of late, at least you’ll be able to get your money back if you decide this is not for you.
The initial price of this product is $47 but there are some hidden costs that go along with it.
First it’s the $19.95 recurring monthly fee that is not clearly advertised on the sales page but in a small print way at the bottom.
So when Matthew says hosting and domains are free, that’s kind of a lie since you have to pay this monthly fee but it sure sounds good right when things are free?
Then you will be hit with upsells once you buy:
- $199 Email Campaigns – these are some expensive email campaigns I’ve ever seen! They better convert at 99% Lol.
- $97 Done-for-You Landing Pages – this is always a lure for people who doesn’t learn how to do this themselves.
- $197 Digital Millionaire University – advanced training and what not.
Products with upsells like this just shows that the main product/system is not going to work the way they say unless you have all these other things.
So forget about the thousands of dollars he flies around in the sales videos if you don’t upgrade and get up-sold, but also, buying these upsells doesn’t guarantee anything as well.
HOW IT WORKS
You will be paying Matt so you can also sell the same Speed Wealth System to others as if it’s yours and make up to 100% sales commissions.
So it’s just a vicious circle really, you will make money on the people that buy this same product.
You will get the same landing pages, the same way to charge people with all the hidden costs and upsells, and tell them to do the same thing.
Matt is building a little army of himself and you’re going to help him do that if you buy this product.
The biggest problem with this system is that you won’t make nearly as much as he boasts about in the sales page if you use free traffic because he will suggest the usual way of free traffic which is social media, YouTube, and bugging your friends and family.
He won’t teach you the real way of getting free highly targeted traffic from SEO, he won’t do that because he doesn’t teach you how to build a real online business.
This is what the dark side of affiliate marketers do… they buy traffic to send to a product like this, then they capture people’s emails first before they buy so that they can send them more offers like this and the cycle keeps going.
Just building an email list and spamming it with tons of low quality affiliate products won’t make you a lot of money.
Buying traffic is highly risky because you don’t know how targeted that traffic is that you’re buying.
I’ve seen also that the traffic could come from people that are paid to click your link so that’s highly NOT targeted traffic. Their only job is to click your link and these people get a few pennies for doing it.
That’s what the people you are buying traffic from do because they promise you a certain amount of clicks when you buy traffic so they go out and buy those clicks from “paid to click” sites when their own email lists can’t cover the clicks promised.
It’s an awful way to do business in my opinion and highly risky.
IS SPEED WEALTH SYSTEM A SCAM?
This Speed Wealth System is what I call a low quality product so it is not a scam.
You will be getting a system that works technically but making all that money promised on the sales page? I’m not sure.
You will probably have to invest in a LOT of paid traffic to get results like that and that’s if you can find a good paid traffic source.
With products like this, they always show you how much can be earned in their sales videos, but they never show how much they spent to earn that.
For all we know, they could be running at a loss to generate those commission numbers.
Because this business is so risky, I just cannot recommend this to any beginners looking to make money online.
SAFER WAY TO MAKE MONEY ONLINE
As a beginner who don’t want to risk losing a lot of money, I highly suggest you learn about how to build a well rounded online business that actually will provide value to people.
Creating an email list and then spamming it with low quality to scam products is not helping anyone.
The business I can show you can create so much more value and at the same time you will be able to learn how to get free organic search traffic (from search engines like Google).
This type of traffic is the highest quality you can ever get and it’s absolutely free.
Yes, it’s slower and it takes time to build, nothing will be done for you and you will learn how to build this online business from the ground up.
But this also means, you’ll have the knowledge to create as many of these online businesses as you wish once you have a successful one.
I have documented everything about this business in my free guide here:
I will be showing you the right way of building an affiliate marketing business that creates value and trust amongst your readers which will convert to higher sales.
My guide will also show you how it works, why it works, and yes you will create a passive income with it as well.
This is what I use since Sept 2016 and haven’t looked back since.
You can do the same as me and learn the right way to use affiliate marketing! You can choose whatever topic you want to build your online business as well, and not be forced to promote just one thing.
You will be able to start your online business today for free as well, I show you where to do that in my guide.
If you have any questions or thoughts regarding whether Speed Wealth System is a scam or anything else, please do not hesitate to leave me a comment below. I always reply to my readers! 🙂
Let’s make money online!