CHAPTER 8
F.U.MONEY MYTH #6:
YOU HAVE TO GET RICH
SLOW
Whenever I’m speaking at a conference, when I throw out the phrase
“get rich quick” the negative reaction from the audience is obvious.
Every face in the audience has this look on it like, “No, no, you CAN’T
get rich quick.”
Every one of us has it ingrained into our psyche that if it sounds too
good to be true, it probably is. Any idea that even remotely hints at “get
rich quick” MUST be some sort of scam.
Let me ask you a question, if you’re going to get rich, isn’t it your
choice to do it at any given rate of “speed” that you want? Do youget
bonus points if you get rich slowly? Is there anything wrong if you make it quickly?
WHO GETS RICH QUICK
Now you maybe thinking,“Who gets rich quick?” I’m NOT talking
about first-round draft pick athletes who sign on to multimillion dollar
contracts, or popstars who get “discovered” and find themselves
suddenly famous. These kinds of people are so few and far-between,
it’s almost like winning the lottery.
This is not a “model” that can be followed by the average person.
Unfortunately, since “famous” people like this are usually the only ones
who draw media attention, the average person believes that these are
the only types of people who “legitimately” get rich quick. Not true.
I personally know thousands and thousands of “average” people
who went from rags to riches in a short period of time. How did they
do it?
Many made their fortune in businesses. Some made their fortune
in the stock market. Others made it in real estate. The story of how they
did it varies with every single person. The thing to remember is that it
does happen.
Unlike famous athletes or popstars who have natural talents and
skills that most of us will never have, these lesser known rags-to-riches
folks are better role models for all of us since what they have achieved
can be repeated by “average” people.
Copy someone who’s making a fortune right now. Read about
them, talk to them if you can, and emulate them. Success leaves clues.
MONEYISM #20
Money is attracted to speed.
You CAN follow in the footsteps of success and become successful
yourself! (Infact, it’s the most certain way to do it.)
WHY GET RICH SLOW DOESN’T WORK
“Get rich slow”is ridiculous— yet you’re being “sold” this very
concept everywhere you look. Some morons somewhere came up
with the idea that the only way the “average” person could ever hope to
“legitimately” get rich was to do it slowly.
Book stores and libraries are filled to the brim with financial books
that tell you to invest your money little by little and let the miracle of
compound interest do its “magic.”
So, in other words, if you invest a little bit of money every month,
then in ten, twenty, or thirty years, you will have accumulated millions
of dollars because of the miracle of compound interest—and some day
decades from now, you will make your F.U.Money.
These financial advisors talk about getting rich on your existing
income level. They want you to save, live below your means, invest
10% of your income into a mutual fund or pension, and in thirty years,
VOILA… you’ll be rich.
So they basically want you to be POOR all of your life so you can
some how be RICH the last few years you’re here on this planet— when
you’re old and sick. It’s just fxxking insane. Does that sound like a good
plan to you? Putting off your hopes and dreams until you’ve worked
forty years?
Be honest with me here, is that what you really want, or is that what
you’ve been told that you should want?
Here’s a fact: out of the hundreds of millionaires and multi millionaires
I know (even a handful of billionaires I’ve met), I don’t know anybody
that actually got rich this way. I don’t know anybody who actually made their
F.U.Money like this.
Not even ONE.
Sure, compound interest sounds good in theory, but very few
people have the discipline and the patience to wait thirty or forty years
to get rich. I know I sure don’t! It’s unrealistic. I’m sure there are some
people out there who have the discipline to do it, I just haven’t met a
single one of them myself.
WHY PLAYING IT SAFE IS ONLY THE
ILLUSION OF SAFETY
We’ve been taught practically since birth that the “goal” of our
existence should be to go to school and get a good job, meaning above average salary, so we can retire
at 65 years old. That’s supposed to be the “safe” thing to do, right?
Guess again.
The other day I saw an old lady working at McDonald’s. Here she is
in her “Golden Years” working under the“Golden Arches.” Why? Who
knows? Maybe her husband die dearly, and she didn’t have the means
to make ends meet. Maybe she doesn’t have the skills to work for
anything more than minimum wage.
As baby boomers age, more and more are finding out the hardway
that they just don’t have enough money to retire. Although they want
to stop working and enjoy the retirement they always dreamed of, they
can’t. So much for “traveling round the world” when you have to clock in at Wal-Mart everyday just to survive!
To make matters worse, their cost of living keeps increasing — gas
prices, heating oil, food prices, prescriptions— the list goes on and on.
Yet earning power as baby boomers age decreases. By that point,
there’s not a lot they can do about it, at least not in the traditional
working world.
And to make matters even worse, even the boomers who were
“prepared” have had their retirement dreams crushed inthislatest
stock market crash. A friend of mine who contributed savings to his
retirement fund month after month, year after year, had his entire
lifetime savings wiped out by the failing of Lehman Brothers. Just like
that—his entire life savings was GONE.
All because of some greedy Wall Street bankers playing fast and
loose with risky investments, my friend has seen his dream retirement
go up in smoke. He told me, “Mr., I honestly have NO idea what I’m
going to do now. All my money is GONE.”
Maybe you’re reading this and you, too, saw your 401(k)get cut in
half (or worse) in this latest stock fiasco. Or maybe you saw it happen to your parents or some one else you know.
The lesson should be clear: safety is an illusion. There is no such
thing as a “safe job.” There is NO “secure pension” that you can rely
on in your Golden Years. Betting it all on a 401(k), or CPF, with no “Plan B” is border line suicidal.
The only “sure thing” you can bet on is you. Here’s what I mean:
when you place your hopes and dreams of retirement in the hands of
your job, a pension plan, a spouse, or a 401(k)plan or CPF, you’re basically putting control in the hands of otherpeople. Control is out of your hands.
When instead you say, “If it’s gonna be, it’s up to me,” you take
control of your financial destiny. You begin to think differently about
educating yourself. You start to look at risk differently. All of a sudden,
starting a business of your own doesn’t seem so “risky”after all. In fact,
it will look more and more like the SAFE thing to do.That’s because it IS.
Check here to take control of your financial destiny findoutwhy
companies writing large monthly checks to anyone with thisnewhigh
in-demand skill.
F.U.MONEY MYTH #6:
YOU HAVE TO GET RICH
SLOW
Whenever I’m speaking at a conference, when I throw out the phrase
“get rich quick” the negative reaction from the audience is obvious.
Every face in the audience has this look on it like, “No, no, you CAN’T
get rich quick.”
Every one of us has it ingrained into our psyche that if it sounds too
good to be true, it probably is. Any idea that even remotely hints at “get
rich quick” MUST be some sort of scam.
Let me ask you a question, if you’re going to get rich, isn’t it your
choice to do it at any given rate of “speed” that you want? Do youget
bonus points if you get rich slowly? Is there anything wrong if you make it quickly?
WHO GETS RICH QUICK
Now you maybe thinking,“Who gets rich quick?” I’m NOT talking
about first-round draft pick athletes who sign on to multimillion dollar
contracts, or popstars who get “discovered” and find themselves
suddenly famous. These kinds of people are so few and far-between,
it’s almost like winning the lottery.
This is not a “model” that can be followed by the average person.
Unfortunately, since “famous” people like this are usually the only ones
who draw media attention, the average person believes that these are
the only types of people who “legitimately” get rich quick. Not true.
I personally know thousands and thousands of “average” people
who went from rags to riches in a short period of time. How did they
do it?
Many made their fortune in businesses. Some made their fortune
in the stock market. Others made it in real estate. The story of how they
did it varies with every single person. The thing to remember is that it
does happen.
Unlike famous athletes or popstars who have natural talents and
skills that most of us will never have, these lesser known rags-to-riches
folks are better role models for all of us since what they have achieved
can be repeated by “average” people.
Copy someone who’s making a fortune right now. Read about
them, talk to them if you can, and emulate them. Success leaves clues.
MONEYISM #20
Money is attracted to speed.
You CAN follow in the footsteps of success and become successful
yourself! (Infact, it’s the most certain way to do it.)
WHY GET RICH SLOW DOESN’T WORK
“Get rich slow”is ridiculous— yet you’re being “sold” this very
concept everywhere you look. Some morons somewhere came up
with the idea that the only way the “average” person could ever hope to
“legitimately” get rich was to do it slowly.
Book stores and libraries are filled to the brim with financial books
that tell you to invest your money little by little and let the miracle of
compound interest do its “magic.”
So, in other words, if you invest a little bit of money every month,
then in ten, twenty, or thirty years, you will have accumulated millions
of dollars because of the miracle of compound interest—and some day
decades from now, you will make your F.U.Money.
These financial advisors talk about getting rich on your existing
income level. They want you to save, live below your means, invest
10% of your income into a mutual fund or pension, and in thirty years,
VOILA… you’ll be rich.
So they basically want you to be POOR all of your life so you can
some how be RICH the last few years you’re here on this planet— when
you’re old and sick. It’s just fxxking insane. Does that sound like a good
plan to you? Putting off your hopes and dreams until you’ve worked
forty years?
Be honest with me here, is that what you really want, or is that what
you’ve been told that you should want?
Here’s a fact: out of the hundreds of millionaires and multi millionaires
I know (even a handful of billionaires I’ve met), I don’t know anybody
that actually got rich this way. I don’t know anybody who actually made their
F.U.Money like this.
Not even ONE.
Sure, compound interest sounds good in theory, but very few
people have the discipline and the patience to wait thirty or forty years
to get rich. I know I sure don’t! It’s unrealistic. I’m sure there are some
people out there who have the discipline to do it, I just haven’t met a
single one of them myself.
WHY PLAYING IT SAFE IS ONLY THE
ILLUSION OF SAFETY
We’ve been taught practically since birth that the “goal” of our
existence should be to go to school and get a good job, meaning above average salary, so we can retire
at 65 years old. That’s supposed to be the “safe” thing to do, right?
Guess again.
The other day I saw an old lady working at McDonald’s. Here she is
in her “Golden Years” working under the“Golden Arches.” Why? Who
knows? Maybe her husband die dearly, and she didn’t have the means
to make ends meet. Maybe she doesn’t have the skills to work for
anything more than minimum wage.
As baby boomers age, more and more are finding out the hardway
that they just don’t have enough money to retire. Although they want
to stop working and enjoy the retirement they always dreamed of, they
can’t. So much for “traveling round the world” when you have to clock in at Wal-Mart everyday just to survive!
To make matters worse, their cost of living keeps increasing — gas
prices, heating oil, food prices, prescriptions— the list goes on and on.
Yet earning power as baby boomers age decreases. By that point,
there’s not a lot they can do about it, at least not in the traditional
working world.
And to make matters even worse, even the boomers who were
“prepared” have had their retirement dreams crushed inthislatest
stock market crash. A friend of mine who contributed savings to his
retirement fund month after month, year after year, had his entire
lifetime savings wiped out by the failing of Lehman Brothers. Just like
that—his entire life savings was GONE.
All because of some greedy Wall Street bankers playing fast and
loose with risky investments, my friend has seen his dream retirement
go up in smoke. He told me, “Mr., I honestly have NO idea what I’m
going to do now. All my money is GONE.”
Maybe you’re reading this and you, too, saw your 401(k)get cut in
half (or worse) in this latest stock fiasco. Or maybe you saw it happen to your parents or some one else you know.
The lesson should be clear: safety is an illusion. There is no such
thing as a “safe job.” There is NO “secure pension” that you can rely
on in your Golden Years. Betting it all on a 401(k), or CPF, with no “Plan B” is border line suicidal.
The only “sure thing” you can bet on is you. Here’s what I mean:
when you place your hopes and dreams of retirement in the hands of
your job, a pension plan, a spouse, or a 401(k)plan or CPF, you’re basically putting control in the hands of otherpeople. Control is out of your hands.
When instead you say, “If it’s gonna be, it’s up to me,” you take
control of your financial destiny. You begin to think differently about
educating yourself. You start to look at risk differently. All of a sudden,
starting a business of your own doesn’t seem so “risky”after all. In fact,
it will look more and more like the SAFE thing to do.That’s because it IS.
Check here to take control of your financial destiny findoutwhy
companies writing large monthly checks to anyone with thisnewhigh
in-demand skill.
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