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If you've been watching the news you've probably heard of the 11 year old girl who started her own lemonade company and just recently signed an 11 million dollar deal with Whole Foods. Stories like this are heart warming and no doubt inspiring but with all the positivity in these types of human interest stories there is a small amount of negativity that comes along with it.
I say this little girl is bad for society because stories like her's trick people into believing THIS is how you become rich and successful. People see stories like this and expect it of themselves and others.
You have to realize that there's a reason this little girl is being profiled on multiple news outlets. Its because her story is extraordinary. Her story is not typical so the news media chose to profile her.
My mentor once told me "most overnight fortunes take 20 years to make". The general public doesn't understand the concept of taking 20 years to get rich overnight. They think you just start selling lemonade and then 2 years later you're rich. I've been around money a long time and I can tell you I have never met a person that just had one of these quick come up stories. Most of the people I know started businesses and worked hard at them for years putting in 16 hour days. The sad reality is that the news will never feature a 40 year old with a plumbing business worth 10 million dollars because that doesn't sell. Its not a sexy story.
People are fooled by what they see on tv. One of my biggest pet peeves is how people will see a successful person and think they just got there by doing something quick over the course of a few months. People look at comedians and actors and always think they just got there fast. They don't realize that a lot of those people slept in their cars, did shows for next to no money for years and basically had hard lives for years before anything started to really work.
In today's society, we look for instant gratification. If things don't pan out within the first few days, weeks, or months, most people will throw in the towel. When I first got into trading, people around me would ask how much money I was making after the first month. Seriously? ONE MONTH. That isn't enough time to have learned anything or make any significant money.
I can remember a time when I had only been in the stock market for 5 years and people would ask me why I wasn't a millionaire yet. People that think like that are stupid. Just plain ignorant. I started with $1700. To say it was an uphill battle was an understatement. You don't just turn $1700 into millions. That's one of the reasons I stress to people that Wall Street is not a get rich quick scheme.
If you've been watching the news you've probably heard of the 11 year old girl who started her own lemonade company and just recently signed an 11 million dollar deal with Whole Foods. Stories like this are heart warming and no doubt inspiring but with all the positivity in these types of human interest stories there is a small amount of negativity that comes along with it.
I say this little girl is bad for society because stories like her's trick people into believing THIS is how you become rich and successful. People see stories like this and expect it of themselves and others.
You have to realize that there's a reason this little girl is being profiled on multiple news outlets. Its because her story is extraordinary. Her story is not typical so the news media chose to profile her.
My mentor once told me "most overnight fortunes take 20 years to make". The general public doesn't understand the concept of taking 20 years to get rich overnight. They think you just start selling lemonade and then 2 years later you're rich. I've been around money a long time and I can tell you I have never met a person that just had one of these quick come up stories. Most of the people I know started businesses and worked hard at them for years putting in 16 hour days. The sad reality is that the news will never feature a 40 year old with a plumbing business worth 10 million dollars because that doesn't sell. Its not a sexy story.
People are fooled by what they see on tv. One of my biggest pet peeves is how people will see a successful person and think they just got there by doing something quick over the course of a few months. People look at comedians and actors and always think they just got there fast. They don't realize that a lot of those people slept in their cars, did shows for next to no money for years and basically had hard lives for years before anything started to really work.
In today's society, we look for instant gratification. If things don't pan out within the first few days, weeks, or months, most people will throw in the towel. When I first got into trading, people around me would ask how much money I was making after the first month. Seriously? ONE MONTH. That isn't enough time to have learned anything or make any significant money.
I can remember a time when I had only been in the stock market for 5 years and people would ask me why I wasn't a millionaire yet. People that think like that are stupid. Just plain ignorant. I started with $1700. To say it was an uphill battle was an understatement. You don't just turn $1700 into millions. That's one of the reasons I stress to people that Wall Street is not a get rich quick scheme.
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