It's an appeal as old as the history of our human race: you can get what you want now without all the work these other folks are going through.
The tricky part is that there are easier ways to make money sometimes. It depends on what you are doing. And to be honest we all love hearing a story about someone "striking it rich." It does happen.
But we can't plan on it. The surest way - and even that way is not guaranteed - is the slow, patient, diligent way.
But sometimes these "get rich quick" schemes are so hard to avoid. The seller is so convincing and seems like a nice person. And he is willing to share his secret with you for only $19.99.
We are all susceptible. Even I have done it.
But we have to be smarter. Usually the only guy getting rich quick is the one selling the secret.
So how can you recognize these schemes?
1. Promises of consistent returns higher than what the market. No one should promise you any return, and everything reverts to the mean over time.
2. Pressure to act now. That alone is a red flag.
3. Offers of reward without work. You can get rich without work, but normally that comes after a few decades of saving money and investing a little each month.
So it's always good to be skeptical. Your instincts are a good guide if you are reasonably educated on the market and how it works.
Here is the closest thing to a sure thing (and even this is not guaranteed): spend less than you make, set aside a set amount each month and invest it in an index fund, and then don't think about it too much. Turn off the informercial. Live your life.
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