Getting rich quickly is something that many of us aspire to – even if it’s just in our dreams, but at CashLady we’re realistic about finance.
While an easy and quick windfall would certainly make life simpler – think of the loans you could pay off – and we could finally buy that holiday pad in the Bahamas, the hard truth is that it’s probably not going to happen.
Short of winning the lottery, inheriting a fortune or investing in the right thing at the right time, getting rich is usually the result of hard work and persistence.
There are also lots of scammers out there tapping into our desire to get rich quickly promising far more than they can ever deliver, typically leaving us worse off in the end.
Here we look at three reasons why you’re not going to get rich quickly.
#1 What you put in is what you get out
The trouble with wanting to get rich quickly is that it flies in the face of the law of equity.
This is the law that says you get in what you put out, and according to financial website Wise Bread, it’s the reason that you’ve got to work hard for those riches or anything else in life for that matter.
Comparing building your fortune to embarking on an exercise regime, the website points out the reality that to get anything really worthwhile out of life you have to put the hours in.
Hard work and consistency
If you want to create an amazing body or get stronger then you have to be consistent and gradually lift heavier weights, or run for longer to build stamina and muscle.
The same goes for getting rich quickly, according to Wise Bread:
“The bottom line is obtaining wealth — or anything of value — is usually attached to hard work, patience, and growth over time.”
It might not be glamorous, it might not be easy but, unless you’re lucky enough to have purchased that winning lottery ticket – you’re going to have put the work in if you want to be rich.
And it’s not going to come quickly.
#2 Get rich quick schemes are set up to fail
There are heaps of getting rich quick schemes out there to tempt you, with most requiring payment of your hard-earned cash up front.
The trouble with these schemes is that they are set up to fail and they certainly aren’t sustainable.
Whether it’s an old-fashioned pyramid or Ponzi scheme, what they will usually have in common is a bold claim of unrealistic returns.
They will usually entice you with tales of other members from the scheme who are now unbelievably rich, driving fast cars and leading glamorous lifestyles.
You will also typically find that part of the deal is having to sign up other members to the scheme.
The bottom line is that if you are made an offer to get rich quick that is too good to be true and that requires an upfront payment then say no and don’t pay a penny.
It’s a tale as old as time and it’s more than likely going to fail, leaving you with less money than when you signed up.
#3 Getting rich quickly is the wrong goal
So, you want to get rich quickly.
The trouble with this goal and the reason it’s probably going to fail is that you’re aiming for the wrong thing.
Say that you do get rich – what are going to do next. Will you invest it wisely or splurge it just as quickly as it came to you?
The truth is that getting rich quick is unsustainable and it’s not going to bring a life that’s rich in other ways, that has a purpose, that makes you proud of what you’ve achieved.
A meaningful and successful life
Indulging in a passion, embracing that great idea and working day and night until it comes to fruition, building up the family business, putting in the hours – that’s the way to a meaningful and successful life.
Ask yourself why you want to get rich quickly and see if you can reframe your thinking and adjust your goals.
There are lots of ways to become successful so start planning how you’re going to make it big in other ways and lead the best life that will bring you satisfaction and joy.