Get Rich Quick? Yeah Right…

getrichquickIn lieu of Grant Schapps’ ‘Get Rich Quick’ scheme scandal, I would like to start by pointing out that this is not a party political blog. I refuse to have lefty/righty arguments online (these are reserved for my close friends only), and will only add that all parties have good bits and bad bits, and their fair share of scoundrels.

Right – now that’s out of the way, I can get down to brass tacks: ‘Get Rich Quick’ schemes.

From an early age I’ve enjoyed making money, and I refuse to be ashamed about this. After all, to remain a high quality recording artist, the funds have to come from somewhere. If you’re lucky enough to have a sponsor (like me), that and sales may cover the basic costs, but will never pay for the time involved in creating it in the first place. Making albums is the ultimate ‘get poor quick’ scheme.

So – investments have become a bit of a hobby for me, and consequently I have probably seen more schemes of all kinds than most. A few basic lessons have been learnt:

  1. Don’t ever invest more than you can afford to lose.
  2. Stay away from anything high risk.
  3. If it seems too good to be true, it is.

‘Get Rich Quick’ schemes fall firmly in #3. I must say, I’m utterly amazed that people still fall for these. After all they’ve been going in a fairly unchanged format for over 30 years. Promises of sharing a method to make a fortune in a short period of time that anyone can achieve. Followed by a listing of how much money the seller has made, and various high ticket items in his (usually his) possession. Then a list of all the amazing holidays etc YOU could afford. Little hints as to how easy all this is to achieve if only you had the insider knowledge, without actually giving anything away. Then – the offer of the book/ course/ programme that will make this happen for you.

Now is it not obvious how these people make their money?! They’re selling the scheme they’re trying to get you to sign up for. Is it likely that they have made the millions they claim to have made? No. Is it likely you will? No. Do you need a book or course to tell you how to do it? No – you’ve already had the sales pitch which you merely need to copy.

I suspect that the people who do fall for this type of scheme are either very young & naïve, or truly desperate and broke. Effectively schemes like this prey on those who can afford it least.

Do I think this kind of scheme is utterly dishonest? Yes. Damn right I do. It is rarely based on true facts and most schemers use false names (as we have seen with Mr. Schapps). And I am talking as a proud Capitalist. Albeit one who has principles and doesn’t believe in trampling on people along the way.

Luckily, the only thing I’m selling is my music, and I promise it won’t impoverish you. Or earn you a million.

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