10 Reasons Why You May Never Become Rich

The maxim of wealth stays only for three generations – one to make it, one to spend it and the third to blow it – may persuade people to reassess seriously about wealth and what it means to you. Getting rich is a combination of IQ, EQ and SQ (not Singapore Airlines but spiritual quotient). For some it is remembering Deuteronomy 8:18 – “But remember the Lord your God, for it is He who gives you the ability to produce wealth...”.

Nonetheless, you will never be rich if you are bogged down by the following:

(i)      Overspending – have a realistic budget otherwise blowing your money is not a realistic path to wealth;

(ii)     Not Saving Enough – in the U.S., personal savings is only about 5% of disposable income. Start with an emergency fund;

(iii)      Too Much Debt – debt under a credit card will weigh you down, so pay it off first;

(iv)      No Plan – without a plan, becoming rich is a dream;

(v)     Not Learning Constantly – learning is a life-long process. The average person reads one book per year while the average top CEO reads 50 books per year. Reading about successful people can help glean some traits or behaviour.

(vi)     Not Trying New Things – change is scary but unless you experience new things, your need for new ideas may never come;

(vii)      Scared of Failure -  nobody wants to fail but there is a difference between taking risk and not trying at all. Fear is a natural mechanism to shelter one in a comfort zone. By not trying at all it means is that you have settled for less;

(viii)     Waiting for a Miracle – hoping for a big inheritance? That’s not real, please wake up! Miracle is you are alive! God has done His part, now it is your turn;

(ix)    Work only 40-hour weeks ? – successful people may work 80-100 hours a week. Why? Because they enjoy their work or business. It is their passion and wealth is simply a by-product!

(x)    Complain rather than commit – nothing will change as long as you do nothing to change. Taking responsibility for non-productive habits is a first step. Then focus on how to change them – just do it!

You are then actually rich! Why? Well you will not spare one arm although you have two. Because being rich is more than physical ownership, it is a state of happiness and well-being. And working hard is always to His Glory!

References:

1. 15 Signs You’ll Never Be Rich, Emil Anton, Alux.com

2. 10 Reasons Why You Will Never Become Rich, Life-span.com