This deceptive and disingenuous nonsense is rampant in the marketing materials aimed at gullible and desperate consumers. Indeed, the quote above comes from the website “Psychology for Marketers,” which should scare us into the horrifying but inevitable realization that behavioral finance has been weaponized. “Nudge” no more; it is now full-on psychological warfare.
Consider, instead, the Cartesian pitch being sold today. Just think it and it will happen. This stuff, along with crystals and horoscopes, joins a long list of things that have never been proven to have much value beyond a placebo effect. Does the modern age cause so much intellectual distress that it requires new extra-strength placebos? Perhaps if we could visualize a world without visualizations the problem might be remedied.
Here is something the self-help folks never tell you: Millionaires don’t waste their mental bandwidth on how much a caramel macchiato costs. They focus on becoming smarter and more skilled and responding to market forces in creative, intelligent ways. Jamie Dimon isn’t performing visualizations; Ray Dalio doesn’t have a dream board; Warren Buffett isn’t reciting mantras to himself.
Here is a millionaire suggestion: borrow a list of highly dubious ideas on wealth creation from those who have trod this path before; publish a book on “How to Become Rich Without Really Trying” and then hit the speaking circuit. Voila! Millionaire status, plus you’ll have lots of spare time on your hands.