Why most people can never become rich

If you ever think about getting rich or wealthy one day, answer this simple question for me:

What are you doing to get rich

If your answer is you are working hard or you are stretching your time at your job or you are just waiting for the right time or right opportunity or you don’t have any answer at all. You can never become rich with these excuses believe me. Those who wait will keep waiting forever.

Stretching your time at the workplace or working hard directionless is also not going to help you in anyway.

A directionless work is to equal no work.

If you want to earn just 1% of how much you can really earn then you should choose these types of excuses because rich never make excuses. You are smarter than you think and are more capable than you believe, just have to put your energy and efforts in the right direction.

Also, many people believe that getting a promotion or hike in income will solve their money problem but it will not. The higher you earn the higher you will get taxed on it and higher your expenses will get. Income has to do very little in getting rich. So, if it’s not about higher income or working overtime at a job than how to get rich?

Why most people can never become rich

All eggs in one basket

Most of the people admit that they have money problem but don’t know why because they are doing everything they can and still facing money problem. The biggest problem is that they don’t know the basic formula of getting rich which is never put all your eggs in one basket.

An average hard working employee spent 12-13 hours at work and rest of time in watching television or Netflix. But, this will never help you in getting rich because you are dependent on one source of income only and that is your salary. Hence, you put all your eggs(time and efforts) in one basket(your job).

Most of the rich people admit that they have more than two sources of income. Rich never put all their eggs in one basket. They generate income from different sources so that when the market is down you always have that other option who will generate income for you. Don’t spend all your time working for one thing only, generate different sources of income and try to generate passive income.

Love for credit

Some people just love their credit card, and why not they can buy anything they want simply and pay later for that. Use of credit card is not bad but one has to use it in the right way or it is the most dangerous thing for your balance sheet.

First, you should never(i repeat never) use your credit card to buy liabilities. Since the market value of liability decrease with time while interest on your credit card will increase with time. Don’t buy any liability that you cannot afford with your current cash flow. Use of credit card should be restricted to buy assets only, assets that will generate income for you and you can pay credit interest with the help of cash flow generated by that asset. Stop using your credit card to buy unnecessary liabilities and choose the path of getting rich.

Want instant result

Today everyone is in hurry, hurry to reach office, hurry to go home, hurry to chase dreams and hurry to earn money. This is where 99% of people who try, fail. Because gone are the days of overnight success and stardom, today only those get success who are ready to work hard and work always. Yes it is right to live in the present but you have to care about the future too otherwise in enjoying the present, you will lose your future. Future in which you can gain wealth if you work hard in your present.

Gaining wealth is like planting a tree, you have to start early and work on it continuously until it is big enough so that you can enjoy the fruit of it. The earlier you start the earlier you can enjoy its fruit. You have to give up the thought of getting rich instantly and should prepare yourself for the long run. But believe me, if you are true to yourself, you will get results soon.

Poor attitude towards life

Most the people remain poor for their whole life because they are so coward to even think that they can do it, they can become rich one day. Getting rich requires very strong will power, the power that will not break in any condition. This is the part where most of the people fail, they never believed that something good can happen to them, they have just accepted their fate that can never reach there and hence never try.

“You can never achieve more than what you aim for”

Life is too short to never try. Anyway you are not trying, but what if you tried and get success? What is success is just a step away and you never tried?

Start asking these type of questions to yourself, this way your brain will start working for you and you will see how many opportunities are always there, just in front of you and you never tried till now. Put your brain to work because it is your most powerful and valuable asset.

“Dream Big!! Achieve Big!!”

Shortage of time

Those who were not able to start it early believe that their time has gone, if they start it now that can never make it. This is just another excuse. Everyone is not Obama, some are Trump too. If someone younger than you is more successful than you, it does not mean that your time has gone. You can still start and gain it, it’s never too late. Remember late definitely beats never.

Remember you have an advantage over who starts early because you definitely have more money to start with than them when they have started and also you can learn from their mistakes and save a lot of time by avoiding those mistakes at the very initial stage. You are more experienced and prepare than them. This is your time to start. Take your first step towards wealth.

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