March 16, 2016

Searching for the pot of gold


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Tomorrow is Saint Patrick’s Day, most of us know it as an Irish holiday, we wear something green and drink a Guinness. But maybe you have also heard of that pot of gold at the end of the rainbow?


The story behind this legend sounds magical and involves a leprechaun.

As the legend goes, a leprechaun told a very old and poor couple that he had come to them to grant a wish, anything they wanted. Unfortunately, the couple couldn’t choose, the wife asked for gold and silver, the husband for a house and tools, then the wife added clothes and jewelry. They couldn’t decide for their one wish. The leprechaun scolded them for being greedy and said:


“For this, I will not grant any wish of yours. But, since you are in need, I will give you a hint. I have hidden a pot of gold at the end of the rainbow. All you have to do is find it.”


The couple must have never found it, as to this day people still commemorate the holiday by searching for that pot of gold.


‘The lucky one’ who finds the pot of gold


Are you one of these people? Or are you dreaming of winning the lottery or having that idea worth millions?


This might not be a good idea if you don’t know how to handle money.


I heard 65% of lottery winners are bankrupt within 15 years. The research from the National Endowment for Financial Education even talks about 70 percent end up broke within seven years. The internet is full of such sad stories, some of these lottery winners ended up in jail and others even dead!


Finding the pot of gold at the end of the rainbow could mean you hit the jackpot with your latest business idea and people are literally (or virtually) standing in line to buy your product or program. All of a sudden you are in demand and the money is rolling in like you never could imagine in your wildest dreams.


What now?

If you are not ready for the BIG money, it will make your life more complicated and possibly miserable.

Fact is if you didn’t know how to handle money before you found your ‘pot of gold’, you will most likely not be able to do it after either. So don’t put all your energy in finding your pot of gold, learn how to handle money, how to spend less than you make (or make more than you want to spend).


You might say, but Conny, if I have that much money then I don’t have to do it myself anyways, I will have experts and advisers around me. That might be true, but how will you know that they are not taking you for a ride?


Blind trust is never a good thing and even the best experts and advisers can’t keep you from making stupid decisions (if you don’t believe me go back here and read some of the stories).





PS: I had a leprechaun and a pot of gold in my yard today, here is the proof:


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