The Illusion of Getting Rich Quick: A 100-Year Look at Wealth Creation

Fast money feels like a cheat code.

We see the flashy headlines, the overnight success stories. It feels like everyone else is finding these shortcuts to wealth, these secret handshakes that bypass the whole 'work hard, save diligently' thing.

FOMO – the fear of missing out – kicks in hard. One right move and boom — early retirement, Bali sunsets, and no more Monday morning meetings. And to be honest, every generation has had a version of this dream.

It’s human nature. We’re wired to look for the fastest path, the easiest route. Here’s the truth though - quick money is a possibility with an extremely low probability. Random fact - Your odds of being struck by lightning in India once in your lifetime are 10x higher than you winning on sport betting apps.

Meanwhile, the boring ones, the ones who showed up consistently, invested patiently, and didn’t get sucked into hype cycles are the ones quietly building real, lasting wealth.

(Side note - A good question to ask — why are these stories not so famous? And the answer is quite simple, because its not newsworthy. News is designed to excite, surprise, stir a reaction. Someone quietly making a fortune over 30 years of time doing boring stuff is not going to do any of the above.)

It is said that history repeats itself. Maybe! But, it definitely rhymes. Let's take a step back — not a few years, but a whole century — and see what history says about quick money.

Every Era Has Its “Next Big Thing” (and a Line of People Who Got Burned)

You’d think after a few market meltdowns, we’d learn. But no — greed has a short memory and a loud voice. In fact one argument for capitalism has been that we have all these technologies & grown so much due to greed, but that’s a topic for another blog.

For now, let’s discuss some classic examples of how greed has been with humans across generations -

1. US’s Roaring Twenties & The Great Depression (1920s–30s)

Back then, stocks were all the rage. Everyday folks borrowed money to buy shares on margin — meaning they only had to put in 10% upfront. When the market crashed in 1929, investors lost over 90% of their portfolio value in a matter of months. A dollar invested in 1929 took 25 years to recover fully. That’s not just volatility — that’s devastation.

2. Japan’s Asset Bubble (1980s)

In 1989, Japan’s Nikkei 225 hit 38,916, and Tokyo real estate was so outrageously priced, the land under the Imperial Palace was said to be worth more than all of California. But then… nothing. The Nikkei only crossed that level again in 2024—35 years later, and still lagging behind in inflation-adjusted terms. It’s a powerful reminder: even in strong, advanced economies, markets can go nowhere for decades. Sometimes, it’s not about chasing quick highs—it’s about acknowledging that no one really knows how long the sideways can last.

3. India’s Harshad Mehta Scam (1992)

The Big Bull’s meteoric rise took the Sensex from 1,000 to over 4,500 in just two years. But the crash that followed wiped out billions in investor wealth, exposed loopholes in the banking system, and scarred a whole generation of retail investors. Many of them still believe ‘stock market mein toh satta hota hai’ & there’s no going back for them.

Sound familiar?

Whether it's 17th-century tulips or, dare I say, certain cryptocurrencies or meme stocks, the pattern is eerily similar:

1. Displacement: Something new captures the imagination (new tech, easy credit).

2. Boom: Prices start rising, attracting more buyers.

3. Euphoria: Caution is thrown to the wind. FOMO reigns supreme. People believe "this time is different."

4. Profit-Taking: Smarter (or luckier) investors start quietly selling.

5. Panic: Reality sets in. Prices plummet as everyone rushes for the exit.

   
   

The common thread? Emotions override logic. Greed, fear, herd mentality. Chasing the quick buck instead of building real value.

The lesson - it has happened before, it will happen now, it will happen in the future too. But, how to ensure you are not making investments in Satyam because your neighbour said so? Follow simple heuristics that do the job. 

Compounding: The Quiet Hero in the Background

Let’s switch gears for a second.

Imagine you invest ₹10,000 every year (just ₹833/month) into a mutual fund delivering a conservative 12% annual return. You do this for 30 years. Sounds slow, right?

But here’s what happens:

• Total Invested: ₹3 Lakhs

• Portfolio Value: ₹27 Lakhs

• Wealth Gained: ₹24 Lakhs (without lifting a finger after setting up your SIP)

Now, bump that up to ₹20,000/month (₹2,40,000/year)? You’d be sitting on ₹7.05 crore after 30 years.

Mind boggling number, right? Now use any investment calculator online & play around with these numbers. Just keep the number of years higher than 20 years. Its crazy. That’s not magic. That’s just how compounding math works.

Why We Crave Speed (& Why It’s So Costly)

Let’s be honest — a ₹5 lakh watch feels cooler than a ₹5 lakh index fund. But which one’s gonna grow?

We’re wired to want immediate validation — through possessions, flexes, or Instagrammable milestones. But wealth doesn’t work that way. It compounds silently, without hashtags.

Here’s the internal monologue a lot of us struggle with:

“Should I really invest this ₹2 lakh bonus, or just buy the new iPhone Pro Max? I mean… I’ve earned it, right?”

The flashy car or phone gives you a dopamine hit. The mutual fund? It just... sits there.

Quiet. Boring. But over time, the fund starts doing things your gadgets never will — like paying for needs you didn't prepare or letting you walk away from a toxic job (trust me, I’ve had both).

Wealth-Building ≠ Entertaining

The people who “made it” via investing didn’t necessarily do anything flashy. They:

• Invested consistently, even when markets dipped.

• Ignored financial news & had an asset allocation in place.

• Lived slightly below their means while increasing their income & savings.

• Stayed in the game longer than most. 

Honestly? That’s it. No cheat codes. No Whatsapp tips.

The Biggest Flex? Peace of Mind

You know what wealth really buys?

• The freedom to say no

• The ability to walk away

• The headspace to think long-term

• The dignity of not worrying when your EMI hits on the 1st

Even high-income folks mess this up. They chase short-term spikes — a hot IPO, a trending small-cap, a flashy real estate flip. But the real winners are those who let time do the heavy lifting. 

The mental peace that comes from having money in the bank is extremely high. 

So, What Should You Actually Do?

Let’s cut the noise. Here’s what actually works — and always has:

• Start early. Not because you are going to make a big corpus by saving 1000 Rs / month but so that you build a habit of saving & investing.

• Be boring. Simple investment products, where the manufacturer’s & distributor incentives are aligned with yours. 

• Don’t check your portfolio daily. That’s like weighing yourself every 10 minutes at the gym.

• Buy experiences, not liabilities. Travel, learn, invest in yourself, those memories will be with you for the rest of your life. That fancy SUV? Or, the designer sneakers, worth it, only if you are passionate about it.

Final Thought: Fast Rich vs. Forever Rich

Everyone’s chasing that one big play — the IPO that 10x’d, the friend who “knows a guy” at an early-stage startup, the token that’s going to the moon or whatever. And you should definitely try these out, you never know when you might get lucky. But, save & invest some too. 

“Would Future Me thank Present Me for this move?” is a great question to ask. It can save you a decade of regrets.

So yeah, maybe you won’t be rich next month. But stay the course — invest wisely, live intentionally, be patient — and you'll be unshakeably rich in 20 years.

All Said & Done:

Take a call as per what you feel is right. If it gives you a lot of long lasting happiness, go for it.

Ignore all the text above. Some decisions will be right & some will be wrong, you live, you learn.

Enjoy your time here, it's a short trip.