Building wealth is a long, slow, boring, and steady process. It takes time, dedication, the right belief and mindset, and discipline. That's why only a few can call themselves financially secure.
Here's why you will never become reach and what you can do to change them:
You don't have competent guidance.
You seek and get advice from financially incompetent people. You hear inexperienced and incompetent money handlers and managers give their two cents about investment and money management in general.
In order to change this, you need to seek advice only from people who have experience in managing money. Hire a financial adviser who has a proven track record of managing his or her finances well as well as his or her clients' money.
You don't want to make sacrifices.
Regardless if you are a low or high-income earner, chances are high that you will die financially poor if you are not willing to make financial sacrifices. In order to build wealth, you need to live a lean lifestyle, removing unnecessary things that you can live without.
If you are serious about building wealth, you need to make a lot of financial sacrifices. Are you frequently eating out? Cook your own food instead. Are you frequently purchasing high-ticket items that you can live without? Avoid purchasing expensive items and invest your money instead.
You are afraid of risks.
Like in business and in life, investing has its own risks. Playing it "safe" in life and money is one of the biggest risks that you can ever make in your life.
Instead of being afraid of taking risks, invest in yourself to increase your knowledge about money management and investing. Buy and read books about personal finance and investing. Take online courses. Attend seminars about wealth management.
You have no specific goals and dreams.
You just want to be rich. That's your goal. It's not as specific as "I want to have 10 million pesos in the bank by 2020". Setting specific goals and establishing specific dreams is important in building wealth.
So get a pen and paper and write down specific goals that you want to achieve on a specific date. This way, you can break down your goals into small and actionable action steps to help you achieve your specific financial goals and dreams.
You despise the wealthy.
You can't be someone you despise. And if you hate the rich because they are wealthy, how can you become one of them in the future?
Instead of despising the rich or treating their success as pure "luck", why not appreciate their hard work? Why not discover how they get their wealth? Why not study their lives and learn from them?
You use the internet for petty activities.
The world of internet is pure of possibilities and you are using it for petty activities like spending hours watching Netflix shows, videos of cats dancing, uploading your never-ending selfies.
Instead, why don't you use the internet to search for products that you can import and sell? Why not use the internet to build a blog around your interest and monetize them? Why not use the internet to learn more about wealth management?
You believe that money can't buy happiness.
Money can give you freedom, buy the things that make you and your family happy, and give you the lifestyle of your dreams. If that doesn't sound like happiness to you, you need to have yourself checked.
Money can bring a lot of good things in your life. It can bring you both happiness and freedom you and your family deserve. So start looking at money as a tool that will enable you to experience the life that you've always wanted.
You hang out with the wrong crowd.
You hang out with financial losers. You date guys that are financial losers. Your friends are financial losers. You hang out with people who are financially irresponsible.
Choose your inner circle wisely. You can't build wealth while spending most of your time with people who don't take the responsibility to avoid dying poor.
You believe that the only way to get rich is by winning the lottery.
You dream of winning the lottery so you can finally and quickly become rich. Like other get-rich-quick schemes, relying on the lottery to build your wealth is a lost cause.
Instead, use the money that you are spending in lotteries, betting houses, and casinos in mutual funds, stocks, VULs, and even your own business. That's how you will get rich.
You have an irresponsible version of YOLO.
You'll only live once so enjoy life and spend all of your money on fun things, right? Wrong! If this sounds like you, then you have an irresponsible version of YOLO.
We will only live once so why not make it right financially? We will only live once so why not leave a sizeable amount to your family when you are gone? We will only live once so why not start your own business and buy investment assets so you won't spend your one and only life slaving into 9-to-5 day jobs?
We all want to become financially wealthy and secure. But only a few of us have the guts to do whatever it takes to make it a reality. Avoid these ten things at all cost if you are truly serious about building massive wealth for yourself and your family.
Do you want to build a financially secure and wealthy future?
Then let's talk and hire me as your official Financial Adviser for free!