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Is it possible to get rich over night?

Hm, this is a well debated topic and there’s many arguments on either side.

# Arguments For Getting Rich Overnight

1. Luck

There’s always that one thing that one can invest in that can blow up at any point. It’s always good to have some luck on your side when choosing in order to “get Rich”.

2. Diversify

When it comes to hoping something kicks off, you need to have not just 1, but 10 or more companies as a way to balance it. Just as easy as it is to make money, you can lose money even easier. For example, owning 10 new alt coins allows a much other probability of 1 kicking off, than having all your money in one alt and betting on it.

Remember, never have all your eggs in one basket.

3. Volatility

Understanding that the higher chance of you getting rich is by buying a volatile stock/coin/whatever. Do not go for anything blue chip as that’s is much more of a security. Also realize that the higher chance of getting rich again means a higher chance of losing all your money.

# Arguments Against Getting Rich Overnight

1. Meaning of “Rich”

It really depends on what you classify rich as. When I think “rich”, I think of 1 billion dollars or more. Your thought can be a lot less or a lot more than mine, but that changes our perspective greatly. One also can never feel “rich” as the human greed will always make us keep wanting more and more, so getting Rich Overnight is impossible.

2. Startup Cash

The likelihood of you having much money when hoping to wake up as super rich is probably not much. The lower amount of $ you have the higher your investment has to produce in order to make up for it. If you put in $100, the chance of you becoming “rich” is impractical. At best you might make $1000, and that in of itself is a lot. However that wouldn’t nearly classify one as rich.

Hope that helped! I personally do not believe that it is possible to wake up rich, as me waking up as a millionaire would just make me feel poor compared to billionaires. I guess it’s how society works though.

1 Comment

It certainly is, but a lot of the ways to get rich overnight involve luck.  Here are some of the ways it can happen:

- You win the lottery for millions of dollars.

- You hit the winning jackpot combination a wide-area progressive slot machine and win millions of dollars.

- You win 1st place at one of the events at a major poker tournament.

- You receive a large inheritance from a recently deceased relative.

- You pick the right stock or cryptocurrency to invest in, and 24 hours later the price moons.

- A judge and jury find in your favor in a lawsuit with a quick trial, and award you millions of dollars from the defendant(s).

- You open up a deck of Alpha Magic: The Gathering cards and find a Black Lotus, then you get that Black Lotus auctioned for 6 figures.

And that's just examples of 100% legal ways, of which there are a lot more.  Then you can also add gray-area methods and criminal activities.  Simply put, there are lots of ways to get rich overnight.  The question is, can you be lucky enough?