Wealthy people are often thought of as arrogant and entitled. The one percent, as many would call them, hold the keys to the kingdom. These are just some of the misconceptions that hinder the common person from aspiring what these titans have achieved.
Educate yourself and avoid these pitfalls by understanding how the wealthy build their wealth.
Money Breeds Money
Some people believe that you need to be born into a wealthy family or attend a prestigious school to learn how to make real money. This is probably one of the most common myths that prevent individuals from dreaming big and getting out of their comfort zones.
Millionaires are made everyday, but most of them didn’t become a millionaire in a day. Many of them began with nothing, and each of them failed at one point or another. What made them different from the rest is their desire to get up and continue what has been started. Bill Gates once started a company called Traf-O-Data, and it failed miserably. Walt Disney was once fired from a newspaper firm due to lack of creativity.
People like them all started from humble beginnings.
Family Comes Second
In this day and age, you work hard or work smart. There’s a difference between working hard and working smart. Successful and wealthy people learn to work smart. They learn to emulate successful people and use them as examples so they can avoid mistakes other people make.
Getting a business up and running requires work, but you can choose to have a successful business and a family.
Say Goodbye to a Normal Life
Warren Buffett would disagree. The world’s greatest investor has a lifestyle that didn’t change much. He still lives in the same house in Omaha, Nebraska. He still earns the same salary after 25 years ($100,000 a year). He is worth 67 billion dollars as of 2015. He could literally have all the things in life, yet his living-below-his-means lifestyle is the hallmark of his success.
The dream of living the rich and famous life has lost its luster. More people are learning that the fantasy of wealth was more attractive than the reality. However, there’s no problem in treating yourself to the luxuries of life every once in awhile. Many people do it to boost their morale.
Indeed, many of us may never attain the fortune that Mr. Buffett has achieved. On the other hand, you won’t ever be wealthy either if you keep on buying unnecessary things.
