We’ve all heard of (and likely dreamed up) get rich quick schemes. Winning the lottery, inheriting a fortune, finding a winning contest prize or ticket of our dreams. There are a million get rich quick schemes, and all of them are about as effective as trying to get hit by lightning. Sure, it’ll happen for some, but for most of us, wealth comes more progressively.
In fact, there are a host of problems that come when wealth does come too quickly. Ever heard of the people who won the lottery, overspent like crazy, and ended up wishing they never won because it put them in a worse position? It’s not an uncommon story. Again, there may be exceptions to the rule, but the reality of it is that wealth that comes too quickly can be more of a burden than a gift.
This comes with knowledge and expertise in handling money. You grow it much like you grow anything, get good with a little bit…then with a little more… and before you know it you’ll have amassed something you now have the experience and understanding to hold onto.
When the opposite is true, and money comes all at once, people often just do whatever they want – with no thought to how to properly manage the fortune – and they deplete it before they know it. This leaves depression and regret in its wake.
This is why we suggest getting rich slow, and building wealth over time, rather than jumping into get rich quick schemes. Remember, slow and steady has always won the race!