Capital.com NewsHow much of a daydreamer are you? Well, let’s admit, sometimes we all fantasise about the positive outcome of our current financial situation. We try to stay optimistic and prefer to see the world through rose-tinted glasses. However, we live in a harsh reality, sometimes it’s better to stop daydreaming and start making a plan that could bring you real profit.
#1. What if I get a huge inheritance and become rich overnight? What a nice prospect!
There are some young people who tend to rely on their relatives until they are middle-aged. They are sure that their parents and grandparents, who have worked hard during their lives to secure a happy and wealthy future for the beloved offspring, are happy to help them. Even if it is so, it may go wrong one day! Relying on someone else or waiting your close relatives to pass away has never been a good financial strategy. Let the ‘inheritance fantasy’ be only a dream and start working right now! This ‘hard work’ strategy will give you a much bigger chance of being successful.
# 2. What if I win a million? Oh, just imagine, ‘Mr. Brown the millionaire’. Stop this moment forever.
Everyone knows the lottery is a trap. Everyone knows it, but millions still try. The funniest thing is we completely understand that the chances to win are too small to be a reality. Despite this, I’ve only ever met a couple of people who have never ever bought a lottery ticket.
Winning the lottery can be a double trap. Even if you win, are you sure you will use this money correctly? If you haven’t got enough skills in budget management, you can put yourself in a situation where the money will just slip through your fingers.
# 3. I’ll launch a website and will make money on advertising. What can be easier?
You’ve probably encountered numerous books, expert articles and video tutorials on how to create a cool website and gain profit on advertising. They often teach you to produce a ‘junk’ resource with no useful content, but one that is highly rated by the search engines, receiving lots of traffic and advertising income accordingly.
A more adequate approach is to create full-fledged website or a blog with relevant and useful content, in addition to selling advertising, but only after attracting a large audience. Sounds better, doesn’t it? Well yes, but don’t rush to quit your current job. Dreaming of earning money with the help of your newly born website. It’s not that easy.
‘Junk’ sites often come under supervision. Some advertising programs, for example Google AdSense, searches for websites that contaminate the web space and prevent people from getting relevant information online. In case your ‘junk’ website is detected, your account may be blocked. Running a fair website with useful content does not have such risks, but it’s still not a quick way to gain money. You should invest your time, money and a lot of energy to making your website work well and work for you.
# 4. An IPO will change your life and make you rich in one click.
Some people think that if they put money into a ‘rising star’ that has just gone public, they will make quick money. There is a bit of a truth there, but also some major flaws in this plan. First, to earn money, you must have something to invest. Imagine that you invest $100 into a stock. The stock price doubles and your expectations are fulfilled. Ok, in this case you get $200 back. Is it enough for your living? I guess not.
What is also important, you should be very talented and lucky to pick the right stocks to invest. Moreover, you need to be able to catch these tricky stocks before everyone else does. And finally, one more thing to remember is that if a particular company decides to go public, it does not always make its stocks a good investment.
#5. I’ll marry a rich guy/girl! The Cinderella fairy tale is here again.
It’s nice that you’re dreaming of marrying a billionaire, raising five kids and living a wealthy future until the end of your days. But, come on, how many billionaires do you know? The same goes for young men, who agree to become a ‘toy-boy’ to a wealthy and successful woman in exchange for expensive presents or real estate.
A dose of reality is needed. Maybe it’s time to leave the Prince Charming fantasies as an outdated fairy tale and take your life in your own hands. Think about it. There are so many ready-to-use time-proven methods to become financially successful. Furthermore, they don’t presuppose being dependent on anybody else. Take control of your own life and start setting real goals. I mean finishing university, if you still haven’t; starting your own business, even if it seems hard; getting a new profession, if you’re not satisfied with the current one; start making small investments into stocks or funds that can bring you some real dividends. Please remember, as long as you have the desire, you’ll find a solution. Good luck!