The case to be boring with your money
The idea of getting rich in flashy ways is not new. After all, Charles Ponzi, for whom Ponzi schemes were named, defrauded investors over 100 years ago with a get-rich-quick scheme based on lies. Today, speculative investments, multilevel marketing companies, and other risky endeavors to generate profits are still enticing traps.
You can always leave your money alone in an interest-bearing account and let the time do its thing, but that doesn’t really make for exciting party conversations, does it? We therefore open and close accounts. We invest in hot stocks and sell them at the first sign of bad news. We waste our money because, in our minds, growing wealth is supposed to take effort.