We humans just love a shortcut!
We are drawn to things that are more convenient, drawn to things that make life a bit easier for us.
Becoming wealthier seems like a pathway out of whatever it is that irritates us right now, because we’ll be able to outsource or avoid doing it.
The promise of get rich quick schemes seduces the emotional part of our brains, rather than the more evolved, rational part of our brain.
They’re also a popular conversation topic – almost the only money topic that’s not taboo. But that popularity can trick us into thinking that everyone is doing it so it must be ok, even safe. Not so.
In this episode of Money for Life I discuss four common get rich quick schemes and why they often end in tears of disappointment.
This list will be controversial
- Share trading (not buy-and-hold)
- Borrowing to invest in property
- Multi-level marketing
- Cryptocurrency/Digital coins
Whilst technically each can create wealth for some, listen to discover why I consider each a scheme that often fails to deliver on the promise of getting rich quickly and easily.