Ask the Advisor: Ways to Get Rich Quick?

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Question: What’s the quickest way to get rich?

This week’s question does not come from a particular individual but it is one that is implicitly and explicitly asked and answered every day in many ways. For an implicit example, when you see an advertisement with a well-dressed, good-looking young couple laughing and gazing into each other’s eyes while stepping out of a luxury car, handing keys to a Valet and stepping toward a 5-star restaurant, what do you think the this image is implying? How many times do you see advertisements like this?

For an explicit example, go to any bookstore; browse through the business and finance section and count how many book titles have the word ‘rich’ in the title or subtitle.

Can Money Really Buy Happiness?

We live in a society where the affluent are elevated to celebrity status (just think Kardashian or Hilton), where money, material wealth and social status are seen as the enablers of happiness. Does money really buy happiness?

Perhaps this timeless question can be answered best by asking more questions. Are there financially poor people who are happy? Are there financially wealthy people who are unhappy? Why aren’t the wealthiest nations in the world also the happiest nations in the world?

Humans are perceptive, comparing, contextual, consuming, and evolving creatures. To translate, with regard to money and happiness, we tend to perpetually establish and reach goals and the satisfaction (reward) obtained is quickly consumed and a new context of happiness is formed. In other words, we are rarely satisfied because we always want “more.”

Get Rich Quickly

The quickest way to get rich is to stop wanting more–to learn the art of contentment. Learning contentment, however, is no easy task when you live in a society that measures success by monetary and material means.

“If thou wilt make a man happy, add not unto his riches but take away from his desires.”~ Epicurus

To begin learning contentment, think of things–such as health, loved ones and personal relationships–that are more important to you than money. Also, think of all the money you can save by reducing or removing the perceived need to impress others with the new car, the new clothes and the bigger house.

Paradoxically, the desire to be financially rich has the potential to make you financially (and spiritually) poor. The get-rich-quick schemes tend to make only the creators of the schemes financially rich while feeding on your desires. The quickest way to get rich is to change your definition of the word to something that does not have financial meaning.

Kent Thune is a Certified Financial Plannerâ„¢ and owner of an independent, “fee-only” investment management firm in Mount Pleasant, SC. Kent is also a freelance writer. To read more of his work or to find out how to contact Kent, please visit his blog at The Financial Philosopher.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investmentadvice. Under no circumstances does this information represent a recommendation to buy or sell securities.

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