THIS Is Why People Fall For Get-Rich-Quick Schemes
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- เผยแพร่เมื่อ 29 ส.ค. 2024
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Thank you sir's
Most dangerous words an investor can say: “It’s different this time!”
@@percivalgooglyeyes6178 If it’s just like something that happened in the past, then it’s NOT different. New technologies replacing older ones has always been part of the system.
@@percivalgooglyeyes6178 I do agree with you! as just starting my investment journey this is very interesting to see. wish us the best of journeys!
Human nature never changes
ROFL, yes!
And so many idiots will believe it.
I love how they accurately describe MLM culture. FOMO, get rich quick with part time work, and not telling people outright what company they work for. People are flocking to them right now as they think the grass is greener on the other side. Heads up it’s filled with debt, false promises and astroturf. Huns give off a certain vibe to attract others. These companies need to be broken and restructured.
Some of his sponsors are MLMs
That is why I skip through these insane TH-cam adverts promising "high income opportunities on Amazon". I have not always been smart with money, but even I can see that this is a whole load of BS.
@@Beanster25 I don’t think mlm’s use traditional advertising. How would they sponsor DR or do mean DR doesn’t discourage people from doing mlm as long as they know what they are getting into?
Wealth building is about timing patience and knowledge.
Wealth takes time? Meanwhile I am saving to be rich while I am still poor now.
Yup totally
I think that yes, it's a maturity thing and a fear of missing out/loss of bargain thing. We were very briefly involved in Avon some years ago and were not in the position to lose the money we lost, even on our first order! That's all it took for us to learn our lesson and looking back, we were blessed to learn that early on in the process. At the time, we were very vulnerable financially and physically, were separated from our families and our "Co-ordinator" definitely took advantage of that. I pray for her, who know what kind of trouble she was in to defraud young adults. It matured us and taught us a lesson the hard way xx
Ugg. I used to sell for Avon and while it wasn't great it wsn't all too terrible. You really don't make that much money in profits because you have to pay for catalogs and samples, etc.
We have that Avon thing here in the UK, and I was almost tempted into selling for them.
@@Musicienne-DAB1995 Yes, we live in the UK and it's everywhere! Xx
John is my favourite Dave Ramsey host. Super concise and calm and always gives great advice.
He’s a yes man to Dave
I can barely watch/listen to him but glad you like him.
@@mxerb5912 to his defense being a yes man to Dave is a prerequisite to be a Ramsey "personality" unless you are his child of course.
Logan was the best to me
@@perotal Lol
You could talk to my parents too. They've been married 71 years and just moved from their house into a duplex. A nurse asked my Dad what his secret was, and he said, "A lot of 'yes, dears'. " 🙂
Glad my generation is moving away from that mindset.
So basically be a simp and never stand up for yourself or beliefs. Got it.
@@jeffb.4800 No. He was joking when he said it. He laughed. Everyone laughed. The answer is understanding each other. My wife and I are on the same page regarding kids, finances, home things, whatever. Does that mean we never disagree? No. But do we fight about it? No. We discuss and come to an agreement. Sometimes she "wins". Sometimes I "win". We're civil.
@@skeetskeet9371 It was said in jest. Geez, you guys have zero sense of humor. Lighten up!!
71 years! That is amazing!
Long-Term Wealth & Stability requires Long-Term action, habits, & consistency. Conversely, Short-Term inputs & schemes will most likely lead to Long-Term problems & turmoil.
It is all about FOMO = Fear of missing out
I think for a lot of people it's desperation. Many people are looking to get out of the situation they're in and the faster the better. Instead of being financially educated and knowing HOW people make a lot of money (multiple income streams, paying others to do a job rather than trying to earn all the money through a job and then investing what you have long-term rather than gambling), people are ignorant of financial things so they grasp on to the first thing they see ("Well this guy MUST know more than me!").
People get rich off of speculation.
Because they do!
Ecclesiastes 1:9
What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
Amen
Just different versions of the same things
One of my favourite verses and quotes ever.
Get rich quick is filled with scammers
I can't say this will speak for everyone, but what has kept me skeptical of these schemes is being more enamored with the process of wealth building than the results. People who I see buying lottery tickets, joining MLMs, and FOMOing into cryptocurrency or NFTs seem to be only interested in the latter.
Right, that is a great point.
Did you know there are some people that own cryptocurrency without FOMOing into it?
I think it’s also about insecurity… more and more people look on Instagram and other social media and see these glamorous life style and we then feel that what we are doing is wrong and will never be good enough.
No wonder excessive use of these programs is correlated with depression.
No different than developing a six pack of abs, you have to eat correctly and workout persistently. People want the magic 💊 . Hard work, sacrifice and dedication is NOT sexy.
I felt this and they're right because I use to think I was the exception to everything.
What John said is one of the reasons military is so agressive to sign on 18 year olds.
Really? At what point do we call it manslaughter? I am not a pacifist, and I respect the military. But I have a deep loathing for the men who concoct wars based on false pretences and send other people's sons to go and die.
@@Musicienne-DAB1995 Respect that point of view but that is another conversation all together. The point is generally when people are young they think they are invincible. The older one gets (starting about post college age) they are more realistic and know their limits.
They saying if you used the old inflation reading data in the 1980s it would be 15%
Yup they changed the CPI numbers to make it not look as bad as it is
Remember the basic principle with get rich quick schemes. Someone else is getting rich from someone else’s naïveté.
Have y’all seen the inflation ! It’s crazy…houses n cars are soaring in prices. Keep calm n no FOMO!!!! We are missing out on nothing by waiting.
The new one is real estate. Everyone buying real estate.
I have to say having the mindset of getting rich quick and taking high risk high reward investments when your young isn’t a bad thing. It’s when you get responsibility’s that you need to think more cautious.
Young people do have responsibilities, though.
Depends on how informed the person is and the motivation behind it. If he/she decides to blindly jump on a get rich quick scheme out of envy, based on 'tips' from his/her friends/family/random internet influencers, I'd say it's a bad thing.
@@Musicienne-DAB1995 I know right. It's like saying a 16 year old with no kids doesn't need to look both ways when crossing a two-way street, which is non-sense.
An upbringing in a fundamentalist religion is also a risk factor. Training folks from a young age to trust everything they read in a certain book or hear spoken from a certain place as the honest truth is excellent conditioning for those same folks to become victims of a seemingly pious conman later in life. To be sure, so-called "affinity fraud" schemes can occur in almost any type of group, but those who are less likely to question the motives of authority figures and in-group members make for easier targets.
That can be true, but being devout does not mean refusing to question or critique (literalist).
If inflation was measured the same way as it was in the late 70s/early 80s then yes it is above 15%. Read how they use “substitution rates” where they take a product and substitute it for the lowest end product and use that increase. They basically substitute the rate increase of prime beef for spam.
Proverbs 21:5 The plans of the diligent lead surely to abundance, but everyone who is hasty comes to poverty.
This won't age well
I’m reaching here and I am not a parent yet but I think that it has a lot to do with how people are raised.
Great conversation!
VERSE OF THE DAY: The temptations in your life are no different from what others experience. And God is faithful. He will not allow the temptation to be more than you can stand. When you are tempted, he will show you a way out so that you can endure. ~1 Corinthians 10:13
Amen and Amen! The Bible says Flee, Run from Temptation as Joseph ran from Potiphar's Wife xx
Lol. Typical joint youtube account, tells me everything I need to know. Quoting scripture on a youtube video but nowhere to be found at the soup kitchen or doing community walks.
Easy Money..........no such thing unless you are a politician or criminal.
Isn't it the same thing?
People fall for them because the people who come up with them get rich quick.
Can someone define what does QUICK mean? Is it one month, one year or three years... ????
You only live so long so if it takes till your 90 to make a million dollars there is no point.
But it doesn't typically take nearly that long, if you're doing it right. I'm living proof.
I totally understand slow wins the race. But taking a risk that you can afford while being young and earning money is fun.
No journalism has not lost its credibility.
Because there are no longer journalists...
The invincible concept kills all the time
I love Dave Ramsey’s teachings! He’s helped me the past couple of years. However, Dave and his team’s thoughts on cryptocurrency is inaccurate. Do your due diligence… study and research 🧐
The alternative to a get rich quick scheme is 60 years of hard labor and low pay. Who wants that? Anything quicker that avoids that is better right? What is bad about wanting better?
Dave Ramsey is true information
Some very good and sound advice here.
Any one get distracted with the hand tapping at the beginning. My inner OSD was a little triggered. Love the content 👍
Proverbs 28:20. Amen, Dave.
I think everyone is lazy and wants to somehow get rich
even people that aren't lazy fall for these scams.
@@randy944 true
@@randy944 some hard workers wouldn’t mind an easy way out I’m sure
not everyone, some people work hard and have the patience
What will dave ramsey say about FBA amazon or drop shipping??
John looks like Dustin Poirier
i mean, who has time to get rich slow? there are lambos to drive and honeys to _______, and we're not getting any younger!
Tax returns is around the corner, already getting spam calls and emails
Religious people tend to be the easiest to grift.
And if we still calculated inflation the way we calculated it during Carter it’d actually be about 15% today but I guess we have to go with the governments new math. If they admit it’s 7% it’s at least double that.
Watch Dragnet series " pyramid scheme"
It's on TH-cam!
"The internet is trying to make money off of you" says the TH-cam internet channel who wants to make money off of you...
Big fan, just saying.
A sucker is born every day. Thats a 100 year old statement.
Research Pendulums and Egregores. All your answers can be found by having a deeper understanding of those two interrelated terms and how they can effect you and those around you in everyday life.
as john continues to play a childs game on his hand.
Can you afford more subtle audio capture devices?
It is 15% Dave they changed and Manipulated the CPI numbers to show it’s not as bad as what it actually is.
I feel like it was more so our parents, who believed everything on the internet, instead of millennials..
But good idea. Lo
The love of money
People are looking some thang to fall out of the sky for (free).
They fall for schemes by following their steps.
I think the problem is the younger generation probably looks at Dave Ramsey and says well yeah I can be a millionaire if I follow Dave Ramsey’s baby steps but it’s gonna take me 20 or 30 years to do it and who wants to wait 20 or 30 years to be a millionaire when there’s people every day they can be a millionaire in a couple years now whether or not they keep it or lose it it’s up to the individual but even I believe you could probably octane millionaire status and a lot less time than 20 or 30 years
Fear and Greed Index is 24 today!
What does Dave think about the FIRE movement?
I’d like to know this too. Not sure he’d agree to RE but the FI part but he’d be on board with
@@chelbella6273 Correct. He often talks about someone he knew who retired in his 30s, and because he was only playing golf and fishing, his life didn't really have much purpose and he almost died early as well. A lot of people dream of retiring, however for most people it would only work for a couple of months tops, and then we need to find something else to do to keep us happy.
The best thing about FI is that you can be free to choose what type of work you want to do, knowing your bills will be paid and you don't have financial stress. You can take time off when you want to. It's an awesome feeling!
Youth maximalism
It’s the end of the world and you know it
And I feel fine...
Did you say that on December 30, 1999? Or in December 2012?
Hey Dave! Is joining an MLM a good idea?
Please read all income disclosure statements and do lots of research before committing. 98% of people do not earn a living wage ($15 per hour min), get deeply in debt and do not have benefits. John Oliver did a deep dive that you can find all over the internet which is a great start.
Also, thank you! I love the John Oliver Multilevel Marketing video too
With all the respect I disagree with you about what I hope the world’s future currency will be
Yes, is emotional immaturity and FOMO. Think about it, you won't feel as good if your diversified portfolio is not behaving the same way as the crypto currency your friend just bought. You will feel the pressure to not miss out on that opportunity to get rich quick!
Get rich sick
What is John doing with his fingers? Taping with the pen.
He does realize that he is apart of large media right? Which means nothing he says is true either.
He still believes he is unique and unbiased.
If your friends jumped off a bridge, would you also?
I’m getting financial tips from Dustin Poirier.
I'm going to get $20 M from that guy in Nigeria.
Me too!
you wont lose money if you are not stupid - buy dips and hold
So buying stock in Evergrande is a good idea? It's in a pretty big dip.
83rd
😎👍✌🖖👌🤓
Bro, you're on the internet. If it's trash and has no credibility, just get a time slot on Fox News.