So, you're still wondering why you aren't rich?
Over at The Volokh Conspiracy, Jim Lindgren links to a Jeffrey Strain post over at the Street:
It then goes on to talk about retirement and possible income during that time.20 Reasons Why You’re Not Rich.
Over at the Street.com, Jeffrey Strain has added 10 more reasons why you’re not rich to a list he published last year. Here were the 10 original reasons:
- You Care What Your Neighbors Think:
- You Aren't Patient:
- You Have Bad Habits:
- You Have No Goals:
- You Haven't Prepared:
- You Try to Make a Quick Buck:
- You Rely on Others to Take Care of Your Money:
- You Invest in Things You Don't Understand:
- You're Financially Afraid:
- You Ignore Your Finances:
Here's Strain's new list:
Many people assume they aren't rich because they don't earn enough money. If I only earned a little more, I could save and invest better, they say. The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it's how you treat money in your daily life. . . .
Here are 10 more possible reasons you aren't rich:
- You care what your car looks like:
- You feel entitlement:
- You lack diversification:
- You started too late:
- You don't do what you enjoy:
- You don't like to learn:
- You buy things you don't use:
- You don't understand value:
- Your house is too big:
- You fail to take advantage of opportunities:
Read the original posts for the explanations of each point.
Now, I look at the items on that list and notice that a couple of other items that are not on that list - hard work, a bit of luck. Yes, you can work VERY hard and not be rich. And yes, you can be rich without having had any luck at all. Be that as it may (and no, I am not rich), those that I know that ARE rich (millionaires, that is) WORK HARD. They work HARD and LONG at what they do - far more than most wage earners (be they hourly or salaried).
That said, look at that list, again and notice the emphasis - not on your company, your friends, your family, the Government. No, the emphasis is on YOU - what have YOU done, what are YOU doing now (or not)?
I think the philosophy stated here is correct - yes, sometimes being in the right place at the right time with the right idea (think Google) is the way to success. More often than not, the "luck" is made via sweat, tears, and stick-to-it-iveness. No, it is a guarantee of success, but if those attributes are missing, success is seldom to be found nearby.
