“Happiness is a state of mind, and my mind stays in a healthy state if there is enough money in my pocket :)”
Don’t bother too much about the above saying, i just made this up. But this remains a fact with so many of us…Read on..
Is there anyone reading this article who hates money? If that is the case, then this article is not the best one for money haters like you. This article is for those who truly wish to get rich in life. When I say rich, I mean really wealthy. What you do with the money after getting rich is totally up to you, and is not the point of discussion in this article.
Most of us want to get rich, with a few exceptions. But then why is that 99% of the world’s population is not rich. Why only 1% could get really rich? What stops us from achieving a real wealthy status? We want it, isn’t it? We work hard for money, then what is missing?
While I was shooting for my promotional video for my upcoming book, I realized that there are few key traits that we lack, which results in most of us living a life of mediocrity. I analyzed and summarized 5 key reasons for most of us not being able to become rich.
1. Wealthiness does not strike us
The fact that we have been born and brought up in an environment where we have hardly seen rich people around us, makes us believe that it’s a norm not to be extremely wealthy and wealth comes only as an exception to the fortunate few. We never had rich friends, rich neighbors, rich colleagues at office. So, how am I supposed to be different? I am normal. I am as most of us are. It never strikes us that we can be truly wealthy irrespective of what surrounds us. We can be that “exception”. We deserve to be that exception, and why not? Change your company if need be, but do not live succumb to a life of mediocrity. Have guts to believe that you deserve every ounce of wealth, and make the best use of that wealth.
2. We never “decide” to get wealthy
I love talking about this. Many of my friends come to me and ask me to list down the steps from 1 to 10 – whatever they need to follow so that they can get rich. Fine, I say, “Tell me your dream.” They are confused with my response and re-iterate their wish to tell them the steps needed for achieving financial freedom. I have to keep reminding them that your dream is going to be your first step. If you have not yet identified a dream in your life, a single purpose in your life for which you are ready to sacrifice anything, you are not done with Step 1, and unless you are done with Step 1, all other steps are meaningless.
In fact, all the subsequent steps after your dream are so common for everyone and available so easily in books and across multiple internet sites that anyone can learn from them and follow them. But your dream is something that will not be available anywhere else. It has to be searched and dug out from inside you. A dream would be something that excites you, that single purpose of your life that ignites you and makes you passionate about everything that you do. It took me 15 years to search for my own dream and purpose of life, but once I found it, financial freedom was a just a series of steps that took 7-8 years to execute. Most of us want to jump over the first step of identifying our true dream because identifying that takes time and effort. It does take a lot of time and lot of effort. Unfortunately, there is no shortcut here.
3. We always have enough excuses
“I am too old to fight for my dream now”, “I have a family to support and secure”, “It is too early for me to talk about retirement or freedom”, “I don’t have time”, “Money is not a very good thing to have”, “Money cannot give you happiness”, “I am busy”, “Happiness is a state of mind”, etc etc etc…the list is endless. I only have one point to tell all my friends who have some “reason” for not getting wealthy – Either you can make excuses or you can make money, but not both. The choice is in your hands. The choices that you make every day, create your destiny.
4. We do not appreciate delayed gratification
Most of us understand the compound interest calculation but it is very rare for someone to truly appreciate the amazing power of compounding and delayed gratification, unless they have experienced it in life themselves. In this fast paced world, we are all looking for instant results, and if we do not see instant results, we want to change our goal itself. Well, nothing worthwhile in life can be achieved without spending enough time and effort. It takes time to get rich and the growth is exponential. You have to have patience in the first few years when it might seem that you would never reach the goal, and then suddenly, you would start realizing the amazing exponential power of compounding. Do not quit your goal till the compounding power triggers off its magic.
5. We are all in our comfort zones
“Well, what’s wrong with my life? It is going just fine…”, said a fish to her peer, lying in the fish aquarium inside a house. Doesn’t that sound familiar? Nothing wrong actually – they are being fed on time, they are being saved from their potential enemies, they are being taken care of with clean water – then why should they try anything different. Perhaps, they forgot the real meaning of life – to “live” and “experience” life and the situations it poses on you. It is a very similar story for most of us. We have got used so much to our comfort zones that it pains to make an extra effort to “live” life. Is it easy to come out of such a comfortable zone? No, not at all. Is it worthwhile? Definitely yes. what is “living” life unless you have your personal freedom in your hands.
So, while most of us want to get rich, only 1% of us who will learn the skill to manage the above 5 constraints, will actually get rich. It is a fact that not everyone can get rich…Rich would always be divided in the ratio of 1% to 99%.
But you can definitely decide the category you want to be in. The choice is, and always was, in your hands !!
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The book From the Rat Race to Financial Freedom has many such wealth management concepts explained in a very simple and uncomplicated manner, especially in the Indian context.
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