Every one of us has a financial dream of some sort, “To become independent,” to “pay off all my debts,” “to own a large business”. However some financial dreams are fool’s gold, best kept as a dream. For example a distant uncle of mine was anticipating a grand life when he would receive the families inheritance. However he died before them! 

Here are 4 financial dreams to avoid pursuing, thanks to ChristianPF:

1. Making money with a website with little to no effort.

I’m here to tell you, making money on the internet isn’t easy!  Although I have a blog that is pretty successful, it took around 6 months to make the first few dollars!  Anyone trying to strike it rich within the internet arena is in for a rough surprise.  The only way to make it big online is to devote a large chunk of your time and dedication.  It will take time and tons of patience.  Making money online is not for the faint of heart, and it’s definitely not a way to make money fast.  It’s a fantasy to think that an online business will get you rich quick.  However, if you’re willing to put the work in, then yes, you can reap the rewards, but those will come with time! 

2. “The chances aren’t that bad, I’ll win the lottery!”

It’s flat out stupid to think you’re going to win the lottery.  You’d probably get more satisfaction out of buying candy instead.  I’ve seen the financial devastation in people’s lives by placing their hope in the lottery.  I’ve seen some people spend an entire week’s paycheck on the lottery.  It’s a losing strategy and you should avoid this fantasy at all costs.  Even if you did win, studies show that most who win the lottery lose it all anyways and aren’t happy.  Lesson here is this: if you can’t budget and manage your money now, how can you expect to be responsible with winning the lottery?

3. Banking on an Inheritance.

I used to think about this one as a kid.  How cool would it be to receive an inheritance when your parents passed?  As I’ve grown older, I have seen people keep this mentality within their financial lives.  I’ve seen people spend recklessly thinking that an inheritance is around the corner.  How do you know if there is as much as you think?  And what if your parents decided to give the money away?  You should never put your eggs in one basket.  This fantasy is not only selfish but can be a real downer when it never happens.

4. “I will make a killing with an IPO”

Oh boy, this one sends shills down my spine.  You’ve seen it in movies and TV shows.  An excited husband gets word of mouth about a new and up and coming company.  He takes his entire fortune and puts it all on one company’s IPO.  The IPO goes sour on the first day and the husband loses everything.  This fantasy is beyond flawed.  It may seem like a logical way to make a killing, but you’re just playing with fire.  First off, you need money to invest with.  Even if you have the money to do so, it’s hard to made a lot off an IPO.  For example, if you have $50 and it doubles, now you have $100.  Depending on how much you invest, this is not a quick way to make money.  Also, you risk the IPO flopping and losing all your money.

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