Why Get-Rich-Quick Rarely Works
October 23rd, 2006 |You’ve probably seen the late night infomercials pitching get-rich-quick schemes. These usually involve making money in RealEstate, Classified Ads, and recently even the Internet. Maybe you’ve even ordered one of these businesses in a box.
They all promise that with a little hard work, and by working “smart”, you’ll be able to retire in a few years time.
JD over at GetRichSlowly.org has a great article about Casey Serin. Casey is a kid who’s trying to get rich quick in Real-Estate. Here’s his story:
I’m a 24-year-old aspiring real estate investor from Sacramento CA. After going to few seminars I bought 8 houses in 8 months across 4 states with no money down. I fixed and sold 2 and then ran out of cash. I am now facing foreclosure on 6 5 houses. I’m learning my lessons, finding solutions and blogging about it.
Investing is different from buying-and-selling homes to make a buck. I suspected a lot of people would be hurting right now as the realestate boom is cooling off.
The best way to make money long term is save a little bit off the top. You do this each and everytime you make any money. Over time you’ll amass a fortune. If you haven’t been able to start saving money, why not try the Million Dollar Savings Club ? You can start with a dollar per day to build the habit. You can read more about it here .
Enjoy JD’s article.
One Response to “Why Get-Rich-Quick Rarely Works”
By Feng shui office on Aug 28, 2009 | Reply
Good post but not cool enough to rule. I usually never comment on posts, and yet I can’t help leaving a comment: people never learn, they will always spam you! Amazing work.. beautiful