How can I get rich quick? I’m sure you can look up a hundred ways right now to do that very thing. But I’m here to tell you that get-rich-quick schemes are just that…. schemes and scams. Please read on below to educate yourself on get-rich-quick schemes and why you should steer clear of them.
Please note: As an Amazon Associate, I earn from qualifying purchases. As the owner of this website, I’ve negotiated special deals for some of the products and services mentioned herein. When you use the links on this page to make a purchase, I may get a small commission, and you may get a great bargain! It’s a WIN-WIN! Please click here for full FTC disclosure.
What is a Get-Rich-Quick Scheme?
“A get-rich-quick scheme is a plan to obtain high rates of return for a small investment. The term “get-rich-quick” has been used to describe shady investments since at least the early 1900s.” From Wikipedia
Sure, there are some legitimate get-rich-quick schemes, but they are hard to spot among the thousands of others meant to take your money and leave you with nothing but an empty promise.
Why Do We Fall For It?
Unfortunately, it is human nature that causes us to jump at the chance to get rich quick.
“Ask your physician how to feel good, and he’ll look you squarely in the eye and say, ‘Eat right and exercise.’ Yet for every dollar spent in fitness centers, Americans spend nineteen dollars on cocaine. The reason? Two seconds after you snort cocaine you feel like Superman. Two weeks of diet and exercise just makes you hungry and sore.” Roy H. Williams, The Wizard of Ads from CopyBlogger
We are a society of instant gratification. We want our good life, and we went it now. Just like we want our hamburgers now. We want our internet super fast for movies downloaded now. “I have a structured settlement but I need cash now!” (You’ve seen these ads, haven’t you?) We want money so we can live the life we want, now! Those who advertise get-rich-quick schemes understand this human tendency to “want it all and want it now.” (The new GrubHub jingle, hmm!)
There is also a tendency for humans to be distracted by glitz and glamour. You see bold, sparkly ads with lots of brightly colored text and exclamation points, so you will go “ooo shiny” Then they hook you in with promises of houses and boats and cars and vacations that you can buy when you get rich. Just buy our book, blah blah blah…..
Why Do Get-Rich-Schemes Fail?
People fail at the get-rich-quick scheme because once they get into it, either they find out it’s a scam, or they find out that there’s work involved. They find out the “quick” isn’t as quick as they hoped it would be. They were not granted their instant gratification, and the luster of the scheme tarnishes. So, they move on to the next scheme, hoping that it’s better than the first. It’s a vicious cycle. (because another thing our society does is resist learning from our mistakes, but that’s a whole other blog post!)
Often the scheme calls for you to buy a book or a DVD that will tell you “secrets” to getting rich quick. Perhaps the only person getting rich quick is the person selling the book or DVD.
“They do not usually fail for the person selling the scheme. There are plenty of people willing to believe, or wish, that there is an easy way to make lots of money. People desperate to make money or become rich are willing to believe that: 1.) it is possible to get something for nothing, or very little effort. 2.) that someone who knows this secret will share it with them for a price.” From Quora
Getting Rich Isn’t Quick
Tom Corley published his study of the time it takes to get rich in the Lifestyle and Budget section of Credit.com in 2015. This is what he says:
“How long does it take for the average person to become rich? Ten years, 20 years? How about 32 years. That’s how long it took the average self-made millionaire, according to my data. In my Rich Habits Study 76% of those who were wealthy were self-made millionaires. They came from non-wealthy households: 31% of these millionaires came from poor households, while 45% came from middle-class households. What’s more compelling about the data I gathered is the age in which these self-made millionaires actually struck it rich. Here’s the breakdown:
- 1% (2 out of 233) became wealthy before the age of 40
- 3% (6 out of 233) became wealthy between age 40 and 45
- 16% (38 out of 233) became wealthy between age 46 and 50
- 28% (66 out of 233) became wealthy between age 51 and 55
- 31% (73 out of 233) became wealthy between age 56 and 60
- 21% (48 out of 233) became wealthy after the age of 60″
From Fox Business
Affiliate Marketing is NOT a Get-Rich-Quick Scheme
I came into affiliate marketing, thankfully, with an education of get-rich-quick failures under my belt. Have you ever heard that song by Aaron Tippins that says “You’ve got to stand for something or you’ll fall for anything”? That’s kind of how I was raised. My parents went from one get-rich-scheme to the next, never making it to millionaire status. In fact, they died nearly penniless. I even fell for a few before I wised up and realized that there is no such thing as getting rich quick.
In order to make money at affiliate marketing, you have to work. It is not for the faint of heart. It is not for the person who gives up at the slightest onset of hurdles. You have to hit it every day, work hard, learn from your mistakes, and persevere until you make it, and then you have to work hard to maintain the level that you reach. It’s not easy, but luckily, it is fulfilling work, because I love helping people, and that’s direction I’m taking it.
I’m an advocate for learning affiliate marketing, and of the training you get from Wealthy Affiliate. This is a great place to start a part-time or even full time job that will eventually earn you passive income, which you can apply to your retirement. Please see my review and other articles I’ve written about Wealthy Affiliate below.
Common Wealthy Affiliate Complaints
Wealthy Affiliate Testimonials
More Info on Wealthy Affiliate
===>Click here to start your free membership at Wealthy Affiliate<===
===>Click here to get $30 off your first month of Premium Membership at Wealthy Affiliate!<===
Take Your Money Quick
Get-rich-quick schemes should be renamed to “Take your money quick”. Getting rich quick is a myth at best. It happens to very few people if it happens at all. Hard, steady, stubborn years of work is what it takes to get rich.
Please put your comments below, and thank you so much for reading!
references:
https://en.wikipedia.org/wiki/Get-rich-quick_scheme
https://www.copyblogger.com/get-rich-quick/
https://www.quora.com/Why-do-get-rich-quick-schemes-usually-fail
https://www.foxbusiness.com/features/how-long-does-it-take-to-become-rich
I know I fell for the get rich schemes because at the time my income was very limited and I desperately needed something extra. So I figured the small upfront fee, which is common on most, what worth the risk. I wasn’t afraid to put in the work, heck I was desperate. But they all ended up being scammed. It is hard to find something you can do online to make money with. I found affiliate marketing to be my only honest option. I think if you are a great sales person and you have a ton of friends and family to peddle to, then you could do the online sales companies, but that is definitely not me.
Hello Matt’s Mom, thanks for reading. Ya, I tried sales with a beauty conglomerate MLM that shall remain nameless. I felt like I was bothering people, and I know it impacted my friendships. And all the “friends” that claimed they liked me, dropped me like a hot potato once I was no longer selling. The only advantage was getting my beauty products at half price, but there was a down side to that as well. You had to spend $200 per quarter. I didn’t have that kind of money nor would I ever with that company. So, ya no more sales for me! Thanks again for reading! Rhonda
Reading this article has really opened my eyes and it has made me to understand why i shouldn’t fall for all this get rich quick schemes, i got to understand that the only way to get rich is by hard work and concentration and this article has thought me that. Thanks for this article and please I will appreciate to get more articles like this.
Thanks for reading and commenting. Ya, I learned the hard way about getting rich quick. It’s just not going to happen. Working hard is the only answer. But doing this work is great for me because I love it.! Again, thanks for reading and commenting! Rhonda
Hey Rhonda! I love your site and thanks so much for publishing this article. I love so much points that you make here its hard to discuss them all in the comments section, haha! I like how you talk about that study about how long it takes for people to get rich. Most people won’t even stick to something for a couple of months let alone decades. Do you have any tips on how to stay motivated while we go through the trials and tribulations of gaining financial freedom?
Thanks for the comment, Marlinda! Hmm, motivation tips. I think the thing that motivates me is that I found something I love to do. That makes me want to go back to it day after day. The other motivator is the sense of urgency to get work to pay off, since my car broke down this week and I really need to start earning more! Also, if you are a member of Wealthy Affiliate, the community really helps motivate you. Hope that helps, and thanks again for your comments! Rhonda