"Wealth gained hastilywill dwindle, but whoever gathers little by little will increase it" - Proverbs 13:11
If you are working with me, or any financial advisor, odds are you are doing that because you would like to build wealth. In order to have the type of financial future that we all desire, there is going to be some bit of savings and building involved. Throughout the years, I have encountered numerous "get rich quick" schemes that, more times than not, leave many people further behind rather than ahead. What oftentimes entices people to invest in these schemes is the allurement of quick gains. They were told that if they invest their money in this product, they will immediately see returns and they will make more money than they would investing in traditional vehicles (mutual funds, ETF's, stocks, bonds, etc...). While there are certainly investment vehicles outside of the more traditional ones that are fine to take a look at and potentially invest in, I want to caution anyone who chooses an investment on the basis of a "quick gain". So often, those type of products which promise a quick gain can also be the ones that give you a quick (and sometimes catastrophic) loss.
Investing and financial planning for the future is a marathon and not a sprint. If you have ever ran long distance and ran a sprint, than you would know that how you pace yourself for a 3 mile run is very different than how you pace yourself for a 200 meter sprint. The pace that you use for a sprint is not sustainable for a long time. If you attempted to sustain that pace, you would never complete the 3 mile run. Likewise, the investments that you use for retirement planning or college planning (just to name a few goals) have to be vehicles that are built for the long-term. True, they may not give you the immediate burst that you would desire, but they are far more likely to produce the long term results that will help you accomplish your goals.
So, as you continue to build your wealth and move closer and closer towards your financial goals, don't get enticed by the products that promise a quick gain; rather stick to those investments that are built to last for the long run. Remember, this is a marathon.
Disclosure: Investments in securities do not offer a fix rate of return. Principal, yield and/or share price will fluctuate with changes in market conditions and, when sold or redeemed, you may receive more or less than originally invested. No system or financial planning strategy can guarantee future results.