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Why You’ll Never Be Rich

May 21st, 2007 by rosie · 6 Comments

Nearly everyone wants to be rich. But only a few make it. Why? And why won’t you ever be rich?

Three main reasons YOU won’t be in the Forbes top 100 or even the top 100,000:

1. You don’t know how. You are not money savvy. You don’t the many options for making money (besides a job) and increasing the money you already do have. Investments, stocks and bonds, and the like just aren’t your thing. You never seriously think about your finances and never plan. Sorry bud, but you are what you think about and what you do and this applies to finances as well.

2. You spend too much. Most people, if they sacrificed for a time and stopped spending as much as they make, could put enough money aside and start building a nice nest egg that will continually grow. Most people equate any type of monetary gain with some type of physical gain (aka buying more things). The news of a raise immediately sends them into consumer mode and visions of new designer clothes, a bigger house, an expensive vacation, or other purchases start dancing in their head. They earn money to spend and never use money to make money.

3. You don’t really want it. Yep, that’s why everyone wants to be rich but few actually are rich. All other reasons hinge on this one. You just don’t have the drive, the passion, the ambition. Being wealthy and having that lifestyle sure is appealing, but the amount of work it takes to get there is not and most people are not willing to work that hard. You may have great ideas, a great personality, a great education, but none of those things will make you rich. Wanting it enough will make you rich. That ambition will make you work harder and never give up until you get there. You will stay focused and nothing will permanently deter you from you goal- not personal set-backs, not catastrophic events, not even failing in a particular business venture- nothing. You have one thing on your mind and that’s what you will do in spite of everything else. Where there’s a will, there’s a way.

There is no magic formula to becoming wealthy. There is no secret. But there is plenty of money out there to be had and you will get as much of it as you determine.

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    Tags: DIY Life · Leadership · Money Management · Thrifty Living

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    Comment by Dave
    2007-05-21 14:46:42

    I totally agree. “You get what you want out of trading” is a quote by Ed Seykota in Market Wizards (a book about amazing traders) but his quote goes to success as well. A lot of people pay lip service to something but havent really worked it out in their head to really believe.

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    Comment by Lazy Man and Money
    2007-05-21 22:10:26

    The last point is one of the reasons why I called myself Lazy Man and Money. I know that I don’t want to work that hard for those rewards.

    Instead, I choose to take the 80/20 approach. I’ll work the average amount and try to think my way to be rich. It won’t get me into the top of top, but I should be fairly comfortable and able to accomplish a lot of my non-financial goals.

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    Comment by cyan
    2007-05-22 01:40:04

    I’m certainly guilty of number 2!! Rather than saving money, I tend to always try to make more money – which is probably never going to get me very far. Thanks for the great article, a good reminder to keep on saving :D

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    Comment by Adam
    2007-05-22 04:51:54

    3 is the key. Very few people are strong enough to do anything and everything it takes to get rich. Fewer still understand that the desire for money is rarely what drives the most successful people. Much more important is the drive to be #1. Money comes as a consequence.

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    Comment by shawn
    2007-05-22 13:03:53

    Discipline is probably the key hardest single thing here. Once you have the knowledge and desire, you still need to be able to discipline yourself like a col’-blooded gangsta in order to not spend $$$ on crap, save/invest your dough, and work toward the goal so one day you can sit back and sit your mint julep on the porch with bikini women everywhere.

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    Comment by Rob Kingston
    2007-05-24 23:35:57

    Wow… the third point you made was like an ‘aha!’ moment. When you look deep inside you can feel a little dissonance.

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