Instant gratification is now engrained in our culture. Thanks to 5G, social media, and streaming, we can basically get what we want in just a few seconds.
This is great for binge-watching TV or listening to music. When we’re listening to the radio, my kids are always stunned when I tell them I can’t just play their favorite song. But when you take this idea of fast returns or immediate success and add it to an investment strategy, it’s a recipe for disaster.
While I can’t sit here and say none of these “get-rich-quick” ventures work, common sense and a little bit of research often prove what my mom always told me growing up: If it’s too good to be true, it probably is.
Because of this instant-gratification mindset, it seems more people are searching for shortcuts rather than doing the necessary work needed to reach their financial goals. Building wealth takes time and isn’t always easy.
David Greene, co-host of the BiggerPockets Real Estate podcast, shares his views on accumulating and managing wealth in his new book Pillars of Wealth: How to Make, Save, and Invest Your Money to Achieve Financial Freedom. Below is an excerpt from the book’s introductory chapter, which challenges readers to rethink the idea of easy wealth growth and rather focus on sound strategies that are likely to be more successful in the long run.
Excerpt From “Pillars of Wealth”
My perspective on wealth-building isn’t rooted in nebulous positive thinking or feel-good energy. It’s rooted in patterns I’ve observed in my forty years of life. It’s rooted in the principles that govern how wealth is built, which is related more to the laws of physics than to emotional manipulation. This is why I equate the wealth journey to the fitness journey. The challenge isn’t in wishful thinking; it’s in acquiring knowledge and then applying it regularly.
This book will guide you on your journey of accumulating wealth, including the principles that…