History is full of people who have gotten rich by luck. Besides all the lucky individuals who have won the lottery, there’s also a list of individuals who have obtained wealth by sheer dumb luck or by coming up with an idea so dumb people couldn’t resist buying.
Check out some of these individuals:
Alex Tew. Tew came up with the idea for The Million Dollar Homepage while in college in England. He came up with the idea as a way to pay for his college tuition. The idea was to sell 1 million pixels for $1 each in advertising space.
After attracting media attention, the Million Dollar Homepage “sold out” just four months after it went up in 2005, making Tew – you guessed it – a millionaire.
Ty Warner. Warner created Beanie Babies in 1993 – the plush, bean-filled toy fad that became a craze as housewives everywhere sought them out and drove up their prices because Warner decided to limit the supply of certain models to create forced scarcity. It worked. Warner’s Ty Inc. reportedly made $700 million in one year, selling the Beanies for $5 each. By 1999, the company had over $1 billion in sales. As of last March, Warner was worth $2.6 billion.
Gary Dahl. An advertising executive, Dahl created the Pet Rock in 1975 as a joke. He ended up making $6 million ($30 million in today’s dollars) from his idea.
PewDiePie. PewDiePie, real name Felix Arvid Ulf Kjellberg (age 31) from Sweden, is one of the most popular YouTubers on the planet. He has raked in more than $100 million from revenues from his channel, where people can watch him play video games and make snide commentary.
He dropped out of college to pursue his YouTube career. His parents weren’t happy at first, but things seemed to work out.
The problem with all of these dumb ideas that have made people rich, everyone thinks they can come up with their own ideas to become rich. For every Alex Tew, Ty Warner, and Gary Dahl who catch lightning in a bottle, there are millions of others who have failed – many of them going broke in pursuit of their ideas.
Remember the blizzard mask, amphibious car, glowing tires, or motorcycles with skis? Of course, you don’t. Nobody does since these were listed among some of the dumbest inventions that never took off.
Getting wealthy by luck or by chance, well, takes luck, which very few of us have. Fortunately for the rest of us, there are ways to get wealthy without relying on luck or chance.
It may not be as sexy as being a YouTube star, but investing in boring, tried-and-true traditional investments offer the opportunity for everyone willing to take a chance to become wealthy – without having to rely on luck.
While everyone else is trying to be the next internet star or get rich from meme stocks and crypto, smart investors are allocating their assets to traditional investments you can touch and feel. Why? Because these investments have already proven themselves. They require no luck to make their investors money.
There’s a reason smart investors allocate heavily to traditional investments like real estate. They offer the opportunity to forge their own path to wealth.
Cash-flowing real estate that appreciates over time is an explosive combination that smart investors have been using for years to create explosive wealth.
With its boundless demand, assets like affordable housing generate recession-resistant cash flow insulated from inflation and market volatility for investors and have made more millionaires than dumb inventions have ever created.
Why roll the dice on your financial future?
Why not get wealthy through intention and deliberation?
Why not take control of your destiny?
Savvy investors are wealthy because they leave nothing to chance. They don’t speculate. They don’t sit around trying to think of the next Beanie Baby. They stick with what works. They stick with assets like real estate.