How Financial Gurus fool you

You must have seen ads on YouTube, Instagram or any other social media in which some self proclaimed personal finance Guru is telling you that he will help you to get rich quickly. These gurus claim that rich people knows something that you guys don't know and these Gurus will teach the same. And your financial state will take 180 degree turn and you will become wealthy in no time. All you have to do is either but their books, attend their paid workshop/seminar or get their paid consultation. 

But have you ever thought that if these Gurus knows something that would make anyone ultra rich, why they don't apply that themselves and become rich. Why are they selling that knowledge in a paid seminar to you. Because their end goal is to sell you their products i.e. books , seminar & workshops. 

How Financial Gurus are fooling you

Financial Gurus always plays on your fear. First they shame you for your poor knowledge of finances and point out that its your spending habits that are stopping you from becoming rich. They always tell you that if you will never be able to become rich because you don't know about the steps to be rich. Inflation will kill you. Recession is waiting for you. You will become jobless then homeless blah blah blah. And once these fears overcome your own intelligence and you feel lack and fear then you start looking for help. Then the gurus come with their magical(which they claim) courses, books & products.

And you fell and the trap, buy their product paid them money and after some realise that nothing is changed in your life. Then you look for new Guru, new book and the cycle repeats. 

You have to understand that these self proclaimed financial gurus never wants you to become rich because if you became rich who is going to attend their seminar. All they want is to fool as many customer as possible.  

Some of their stupid advices

Most of their advices are extremely generic and never work for everybody. For example some of them always told you to invest 30 percent of your money. But what if you are working in a low paying job and even struggling for your survival. Will you spend your salary in paying your bills and bringing food on the table or you  are gonna buy stocks. Use some common sense. In this stage your entire focus should be on getting better job and earn more. Because only that can give you liberty to invest.

Also, some of the Gurus also say that you yourself are the only reason for your financial troubles. They don't talk about the poor economy, government failure in generating jobs, evil mindset of business owners who under pay their employees, and all the market factors which affect the economy.  Its like saying a cancer patient that he himself created his cancer.

Some Gurus suggest that you should live below your means and save as much as possible. Although saving is not bad in fact its necessary because you always need some funds in case of any emergency. But no one  ever got rich by saying, I said no one ever. If you look at Rich people they live luxuries lifestyle and never preach about saving. They always focused on earning more and earning from multiple income sources.

Why you need financial Gurus in the first place?

Everyone wanna get rich same as you. And there is nothing bad to crave to more money and good lifestyle. But you have to understand that these self proclaimed Finance gurus are nothing but entertainers and all you get from their seminars is entertainment and false hopes. 

People got rich in two ways- either they are born in a rich family and inheriting the money or they are the hustlers who once born poor, tried several things at life, failed at some succeed at other and build something big. If you really wanna get rich and you have no background then it takes a hell lot of hardwork.  Either you have to start a business and commit yourself for one hundred percent. Or if wanna go through job route then you have to learn the skills which are in high demand in market and try hard to become the best in your field. So that no company will hesitate you to pay the salary cheque you want for yourself.

Final Thoughts

Self proclaim financial gurus are useless for you. They are in the market for business and you are just their foolish customer. And if we consider them  even 1% genuine still their advices are extremely  generic which does not fit to everyone . For instance the investment example I have given above in this article. So seeking richness is not bad but seeking shortcut to become 'rich quick' is bad. And following these financial gurus is one of them.