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The Instant Riches Trap

May 3, 2022 By George Hutton Last update: May 3, 2022

Short Term Love

https://loopvids.s3.amazonaws.com/2022/22May03_Post.mp3
Getting a financial windfall is the dream of nearly everybody.
 
At least, superficially.
 
One massive lump sum that would do two very, very wonderful things.
 
One, to pay off all your bills and never worry about financial things again.
 
Two, to do the things you really want.
 
Travel, spend time mastering a musical instrument.
 
Traveling to another country immerse yourself in the language.
 
Hire a personal trainer, get in fantastic shape, buy some nice clothes and become irresistible.
 
Take a bunch of classes for personal interest, rather than simply taking them to pass a test and get a diploma.
 
These are all fantastic dreams.
 
But study after study shows that sudden and unexpected sums of money are great at first, but they generally ruin people.
 
Lottery winners for example, are happy, very happy, for the first couple of years.
 
But eventually they end up feeling worse off.
 
This sort of makes sense.
 
From the mindset of somebody to gets up and does the daily grind, a bunch of money seems fantastic.
 
But once you don’t need to work, it’s very easy to become undisciplined.
 
Also, the law of diminishing returns kicks in.
 
You buy a nice car a week or so after the winnings come in.
 

Long Term Pain

But every subsequent big ticket purchase after that feels less special, and more ordinary.
 
Kind of like when you’re really hungry and you start to eat.
 
The first bite is amazing.
 
The second and third, not quite as amazing.
 
Pretty soon you reach a kind of tipping point.
 
Where you keep eating, but only on momentum.
 
Pretty soon, the pleasure of eating turns into pain.
 
Spending money is the same.
 
Every subsequent big ticket item purchase feels less and less special.
 
And more and more normal.
 
And you’re also running out of money, AND losing your daily grind capacity.
 
So when you do run out of money, your “daily to go work” skills are completely trashed.
 
This kind of idea has been around for a long, long time.
 
What seems like a fantastic idea in the short term can be devastating in the long term.
 
What’s the answer?
 

Daily Grind

To realize another idea that has been around for a long, long time.
 
The idea of the “road is better than the inn.”
 
The path toward riches is better than having the riches.
 
The feeling of MAKING money tends to feel much better than simply HAVING money.
 
When you feel a sense of daily improvement.
 
Always getting better making money.
 
Always getting better with any kind of social skills.
 
Always becoming a better speaker, a healthier human, a better lover.
 
This daily grind will never fail you.
 
Continuous, daily improvement.
 
Learn More:
 

Goal Setting Sucks

 
 

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Filed Under: Brain Power, Economics, Goals Tagged With: Daily Grind, Easy Riches, Goal Failure, Goal Setting, Grind, Inn, Long Term, Road, Short Term, Sustainable Riches

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