Am amazed at the abundance of get rich quick schemes being peddled on the internet. Even in Linkedin groups. Do people really believe that people like Warren Buffett, Donald Trump and Richard Branson made fortunes by joining a get rich fast scheme?
Every day you come across offers stating that by paying, for instance, $29.95 a month you will soon be earning a fortune. Not to mention spam emails promising all kinds of wonders for a fee.
Wish it was that easy
It would be great if it was that simple, wouldn’t it? But unfortunately becoming a millionaire takes time and, as a rule, there is no such thing as getting rich swiftly.
Instant gratification – forget it
Instant gratification is rare when you are building up a fortune. To succeed you have to be able to think long term. Failing that, it’s unlikely that you will ever become wealthy.
However, in today’s welfare society most people unfortunately want money for nothing. Actually even think they are entitled to it. No wonder the Madoffs of this world are so successful. The only thing achieved by most people paying for get-rich-schemes is make money for the owner of the scheme.
Do you count on luck?
Well to do people understand that they are much more likely to strike it rich by understanding how money works as opposed to counting on luck. The odds of winning the lottery are much lower than when you invest prudently, providing you know what you are doing.
Few of us earn a fortune by only changing our time for money. You have to find ways to make your money work. Investing successfully is hence an important part of a millionaire’s success. But make no bones about it, it involves a lot of hard work.
Think long term and act
Millionaires have learnt to think long term, save and rarely spend money on unnecessary things.
Learn how to make money work for you and make sound long term investments. Millionaires do what most people just think about. To strike it rich you have to act and have a long term plan.
The most difficult aspect may be to accept the importance of doing small things on a daily basis and not get rewarded until later in life. Once accepted, that’s what makes you spend less and start making sound investments even when you don’t have much to invest.
Look at the Chinese in general. Their main priority is saving. They work hard and I can’t help thinking of a street in London where there were two laundries next to each other. One run by Chinese and one by Brits. The Chinese worked 24/7 while the Brits stuck to business hours and were closed on Sundays. Needless to say it didn’t take long before the Brits were out of business while the Chinese kept on thriving.
Maybe what’s most alarming is that there is obviously a huge market for get rich schemes. There wouldn’t be so many offers available otherwise. Apparently people even give away the details of their bank accounts. Only to find that they have been robbed. Having said that, the dishonest people peddling such schemes deserve nothing but contempt.
What do you do on a daily basis to increase your wealth? Are you making sound investments? Or are you hoping that luck will suddenly make you a millionaire?
(Photo: CNBC – Flickr)