9 signs confirm that you will not become rich !!
Although no one can predict the future, being caught in the following crises will impede your path to wealth.
And to help you assess whether or not you’ll be rich, we’ve taken some advice from the Huffington Post quoted by Business Insider to avoid them.
Here are 9 important signs that warn you that you will not get rich:
1- Focus on saving money more than earning it
Saving is a crucial factor in the matter of creating wealth, but it is not wise to have all your focus on saving to the point of forgetting and ignoring making money in the first place, because the latter is what the rich focus on.
Siebold says, “While many people care to save their money and simply live, they waste many great opportunities, of course we don’t need to stop practical savings strategies, but if you want to think like the rich do, you have to stop worrying about running out of money, and start focusing. Get more of it ”.
Some experts say that the matter is not related to how much money you earn as it is about how you save it, but this is not a reason to completely neglect making money, because in order to save you need to earn in the first place, among the habits that all millionaires follow are that they diversify the sources of income Besides, they follow smart savings habits.
2- You have not started investing yet
One of the most effective ways to earn money over time is to invest it, and the more you initiate this, the better. On average, the wealthy invest annually about 20% of their income. Ramit Sethi in his book I Will Teach You How to Get Rich.
The more you save, the better, but it is possible to go a long way with another fraction, thanks to the compound interest. One of the best ways to indulge in investments is to save for the retirement period with investment bank accounts such as personal retirement accounts.
3- Prefer a fixed salary
Most people tend to get paid at a certain time, at a fixed rate or be billed by the hour, while wealthy people prefer that their money is dependent on the results of their work and are usually freelance workers.
As the billionaire Steepold says, “This does not mean that no high-class people spend certain hours of their time getting money, but this is probably the slowest path to a good life, but it is the safest. Great people know that self-employment is the fastest way. For wealth ”.
At a time when the upper classes of society aspire to start their own work and create wealth, the masses prefer to spend their lives on work that provides them with a steady income that increases annually.
4- You buy things you don’t need
If you live beyond your means, you will not become rich, and whenever you start earning a lot of money or getting a large increase in your salary, do not spend this increase in order to raise your standard of living.
“I didn’t buy my first luxury watches or my car until my business and investment offered safe, multi-income streams,” says self-made entrepreneurial millionaire Grant Cardon.
5- You seek to fulfill other people’s dreams, not your own
If you want to be successful you must love what you do, and this means perseverance and following your passion. Many people make the same mistake, which is to fulfill the dreams of another person, such as their parents, for example, explained Jim Thomas Corley, who spent five years of his life researching self-made millionaires .
So when you pursue someone else’s dreams and goals, you may eventually become unhappy with the profession in which you work, which Corley wrote in his book “Change Your Habits, Change Your Life,” indicating that your performance and the results of your work will reflect on you. You may earn a living and struggle financially. But you simply will not have the passion necessary to succeed.
6- You feel financially comfortable
If you want to create wealth and be successful or be a leader in this life, you have to have uncertainty and discomfort. Especially rich people find their comfort in the state of uncertainty.
Material, psychological and emotional comfort is the primary goal of the middle class, says Stebold, adding that those with ideas from the upper classes of society are aware that access to wealth is not easy and that the need for more comfort is destructive, as they know that their comfort is to enter a state of Constant uncertainty.
7- You don’t know what to do with your money
Money will not appear to you all of a sudden, you are working towards obtaining it, so if you are going to eventually create wealth you have to have a clear and specific goal before designing your financial plan.
Rich people choose to work to achieve wealth, and this requires focus, courage and knowledge, and a lot of effort, but richness can be achieved if you have accurate goals, clear vision and self-confidence, this is how millionaire Harv Ecker explained, noting that the first reason why people do not reach what they want is that they do not They know what they really want, but the rich know what they want.
8- Spend first … and save what remains after that
If you want to be rich, you have to save first. And about this, self-made millionaire David Batch points out in The Automatic Millionaire that what most people do when they make money is spend it first.
He continues, “They pay it to the main owner, whether it is a credit card company, a phone company, or a government … etc., so it is better to spend the money and then save what is left, is to allocate 10% of your total income to saving and do it consistently, and this way you will not see Your money and life will get used to without it. ”
9- You believe that wealth is difficult to achieve for you
“The general public thinks that wealth is a privilege or a gift that is reserved for lucky people only, but the truth is that in capitalist countries you have every right to be rich if you are willing to do something that has great value for others,” says Stebold.
“You have to start by asking yourself (why aren’t I?),” Stibold adds, encouraging those who want to get rich. Think more. The rich have high expectations. Why shouldn’t your goal be to complete you a million dollars.
Quoted from Al-Ghad website