A get-rich-quick scheme is a plan to obtain high rates of

return Return may refer to: In business, economics, and finance * Return on investment (ROI), the financial gain after an expense. * Rate of return, the financial term for the profit or loss derived from an investment * Tax return, a blank document or t ...

for a small investment. The term "get rich quick" has been used to describe shady investments since at least the early 20th century. Most schemes create an impression that participants can obtain this high rate of return with little risk, and with little skill, effort, or time. Get-rich-quick schemes often assert that wealth can be obtained by working at home. Legal and quasi-legal get-rich-quick schemes are frequently advertised on

infomercial An infomercial is a form of television commercial that resembles regular TV programming yet is intended to promote or sell a product, service or idea. It generally includes a toll-free telephone number or website. Most often used as a form of dire ...

s and in magazines and newspapers. Illegal schemes or

scams A confidence trick is an attempt to defraud a person or group after first gaining their trust. Confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, confidence, irresponsibility, and greed. Researchers have d ...

are often advertised through

spam Spam may refer to: * Spam (food), a canned pork meat product * Spamming, unsolicited or undesired electronic messages ** Email spam, unsolicited, undesired, or illegal email messages ** Messaging spam, spam targeting users of instant messaging ( ...

cold calling Cold calling is the solicitation of business from potential customers who have had no prior contact with the salesperson conducting the call. It is an attempt to convince potential customers to purchase either the salesperson's product or servic ...

. Some forms of advertising for these schemes market books or compact discs about getting rich quick rather than asking participants to invest directly in a concrete scheme.

Online schemes

Get-rich-quick schemes that operate entirely on the Internet usually promote "secret formulas" to

affiliate marketing Affiliate marketing is a marketing arrangement in which affiliates receive a commission for each visit, signup or sale they generate for a merchant. This arrangement allows businesses to outsource part of the sales process. It is a form of p ...

and affiliate advertising. The scheme will usually claim that it does not require any special IT or marketing skills and will provide an unrealistic timeframe in which the individual could make hundreds of thousands, if not millions of dollars.

Lotto advice as get-rich-quick

Richard Lustig, a seven-time lottery winner from the US, wrote a 2013 booklet explaining the methods to which he attributed his success which became a best-seller on Amazon.com. Finance journalist Felix Salmon characterized Lustig as "a get-rich-quick" hack.

NFTs and cryptocurrency

Since the growth in popularity of non-fungible tokens (NFTs) in the early 2020s, skeptics have accused many NFT projects of resembling get-rich-quick schemes.

References

Bibliography

* Leila Schneps and

Coralie Colmez Coralie Colmez is a French author and tutor in mathematics and mathematics education. Early life and career Coralie Colmez is the daughter of mathematicians Pierre Colmez and Leila Schneps. Colmez was raised in Paris, France. After completing ...

, '' Math on trial. How numbers get used and abused in the courtroom'', Basic Books, 2013. . (Eighth chapter: "Math error number 8: underestimation. The case of Charles Ponzi: American dream, American scheme"). {{Scams and confidence tricks Confidence tricks Finance fraud Ethically disputed business practices

Online schemes

Lotto advice as get-rich-quick

NFTs and cryptocurrency

See also

References

Bibliography