Too much talk of getting rich fast and guarantees

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?

Do people really believe the Warren Buffetts of this world became billionaires by joining a get rich 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)

10 thoughts on “Too much talk of getting rich fast and guarantees

  1. The old adage, "If something looks too good to be true, it probably is" is even more true today than ever, thanks to instant, global widespread messaging. That's what the 419, and other, scamsters rely on, and every year they catch enough greedy people to make themselves a lot of money.

    There's no substitute for hard work, watching your spending and realising that building solid foundations will see you through the inevitable tough times.

    As Gary Player so famously said, "The harder I work, the luckier I get."

  2. If people spent as much time investing in themselves as they do the get rich schemes they would be richer. I dont know how many times I hear people say "I just dont have time to do anything else" when you talk to them you find out they never miss the latest reality show and can tell you all of the characters of a popular TV program. If you ask them about what book they just read or if they want to attend a seminar they dont have time. They are also the ones that will try every get rich scheme available.

    1. Agree with you completely Julia. Funny thing is I do believe it's more Westerners getting into get rich schemes than people from the developing world. Presumably because they are to spoilt and want money for nothing.

  3. I think it's terrible how people are being taken advantage of. Especially in thsi economy, there are more desperate people so for the scammers they have plenty of victims to choose from. If people would start to think rationally and not out of desperation, they would be in a much better position.

  4. I have to admit that I have tried many of these. I finally came to the conclusion that the system is very flawed.

    If you're selling a product, it is way overpriced to compensate for the commission structure paid to the sellers.

    If you're selling a service you must recruit more than sell and then you must recruit in abundance, anyone and everyone. In the last venture I ended up with some real "interesting" characters on my "team". After recruiting and training at least 100 people, I ended up with a few that every produced anything. The odds were just dismal.

    I've learned, but I admit that it took me a while…

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