Getting Rich and Staying Rich....
In the last few decades, we have had the rise of the talk Guru's to tell you what to do in order to build wealth and keep your wealth. Everyone from Tony Robbins, Grant Cardone, Robert Kiyosaki, and the list goes on.
I really get tired of listening to their nonsense. Yes, for most of us it is nonsense.
I know, I know, they say that if you want to get rich you should follow someone who has got rich by doing what you want to do. In other words, you need a mentor right. I would agree with this philosophy to a degree. You have to keep in mind one thing. We are not all created equal. Things that they excel at you may not excel at. Things that you excel at they may not excel at. We are all different. You have to keep this in mind as you set about to make your fortune if that is how you define what wealth is to you. I recently heard that over five hundred thousand people in the USA made over 1 million dollars last year. Ok, that is a fair amount of people until you do the demographic math. You often hear that the 1% make all the money. Well, you are not far off.
Doing the math in the USA looks like this 500,000 divided by 335 million equals = 0.001495 which when times by 100 equals 1.495 or 1.50 if you want to round it all off. That is essentially 1% my friends. To be exact it is 1.5% of the population. So when someone says that it's easy for you to make a million I believe that they are correct but that means that you have to have some way to break into the 1% who make all the big money.
Without the ability to sell and persuade this is almost impossible unless you possess some hidden talent that the world cannot do without.
Are you smart enough to create something that the world cannot live without while adopting very little risk in doing it? Maybe, but more likely not. I don't.
What about selling products. Are you a AAA salesperson. I don't know that neither do you? I can tell you that it is not easy to do and you have to have a hide as thick as a Rhino to keep yourself healthy in the number of times you are going to be told "no". A lot of these fellows that are super salesmen or women you cannot offend. What I mean by this is it doesn't matter how politely you tell them to F--k off they just keep loitering around until you finally cave. They call it tenacity. I call it brazen and rude. They go with the assumption that you don't really know what you want. Well, I do know what I want and that does not include a fancy Jordan Belfort salesperson yammering in my ear.
So turning to the markets can you make money fast? The simple answer is "no". Most people will never be good traders. You know the ones you hear about that turn a small amount of money into a fortune over time. Maybe one in a million. They say its easily replicable but the statistics still say it is not the case regardless of how lucrative the system looks. Couple that to the inappropriate use of leverage and you have the makings of a poor man.
In order to get rich, it isn't the number of good books you read although reading is important. It isn't the number of hours you work in a week although working a lot of quality based hours can help. It isn't totally about relations although these people help. What it is about is finding something that you really enjoy and excel at and sticking with it. Something that people know you for. Something that people can relate you to because you are simply the most knowledgeable person in the area. It is about the discipline to realize that although you may be good you may not ever be financially rich. If that is the case then alter your meaning of what it means to be rich. For example, a fellow by the name of Dick Pronecke built a little log home in Alaska and spent the rest of his life (once he retired from the Navy) in the presence of nature, keeping his needs and wants to a minimum while choosing to write and do trade work daily. No, he didn't make millions. He didn't need to. He died "content" and that is how you keep your wealth. Cheers!
I really get tired of listening to their nonsense. Yes, for most of us it is nonsense.
I know, I know, they say that if you want to get rich you should follow someone who has got rich by doing what you want to do. In other words, you need a mentor right. I would agree with this philosophy to a degree. You have to keep in mind one thing. We are not all created equal. Things that they excel at you may not excel at. Things that you excel at they may not excel at. We are all different. You have to keep this in mind as you set about to make your fortune if that is how you define what wealth is to you. I recently heard that over five hundred thousand people in the USA made over 1 million dollars last year. Ok, that is a fair amount of people until you do the demographic math. You often hear that the 1% make all the money. Well, you are not far off.
Doing the math in the USA looks like this 500,000 divided by 335 million equals = 0.001495 which when times by 100 equals 1.495 or 1.50 if you want to round it all off. That is essentially 1% my friends. To be exact it is 1.5% of the population. So when someone says that it's easy for you to make a million I believe that they are correct but that means that you have to have some way to break into the 1% who make all the big money.
Without the ability to sell and persuade this is almost impossible unless you possess some hidden talent that the world cannot do without.
Are you smart enough to create something that the world cannot live without while adopting very little risk in doing it? Maybe, but more likely not. I don't.
What about selling products. Are you a AAA salesperson. I don't know that neither do you? I can tell you that it is not easy to do and you have to have a hide as thick as a Rhino to keep yourself healthy in the number of times you are going to be told "no". A lot of these fellows that are super salesmen or women you cannot offend. What I mean by this is it doesn't matter how politely you tell them to F--k off they just keep loitering around until you finally cave. They call it tenacity. I call it brazen and rude. They go with the assumption that you don't really know what you want. Well, I do know what I want and that does not include a fancy Jordan Belfort salesperson yammering in my ear.
So turning to the markets can you make money fast? The simple answer is "no". Most people will never be good traders. You know the ones you hear about that turn a small amount of money into a fortune over time. Maybe one in a million. They say its easily replicable but the statistics still say it is not the case regardless of how lucrative the system looks. Couple that to the inappropriate use of leverage and you have the makings of a poor man.
In order to get rich, it isn't the number of good books you read although reading is important. It isn't the number of hours you work in a week although working a lot of quality based hours can help. It isn't totally about relations although these people help. What it is about is finding something that you really enjoy and excel at and sticking with it. Something that people know you for. Something that people can relate you to because you are simply the most knowledgeable person in the area. It is about the discipline to realize that although you may be good you may not ever be financially rich. If that is the case then alter your meaning of what it means to be rich. For example, a fellow by the name of Dick Pronecke built a little log home in Alaska and spent the rest of his life (once he retired from the Navy) in the presence of nature, keeping his needs and wants to a minimum while choosing to write and do trade work daily. No, he didn't make millions. He didn't need to. He died "content" and that is how you keep your wealth. Cheers!
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