Contrary to popular belief, "everyone
has the same opportunity to acquire
wealth," says self-made millionaire
Steve Siebold.

Is wealth in the cards for you?
To help you evaluate, we've rounded
up nine red flags you might want to
watch out for. While no one can predict
the future, the following choices most
likely won't accelerate your path to
riches.

1. You put too much emphasis on saving — and not enough on earning

Saving is crucial to building wealth, but
you don't want to focus so much on
saving that you start neglecting
earning, which is what rich people
focus on.
"The masses are so focused on clipping
coupons and living frugally they miss
major opportunities," Siebold writes.
There's no need to abandon practical
saving strategies. However, if you want
to start thinking like the rich, "stop
worrying about running out of money
and focus on how to make more,"
Siebold advises.
Some experts say that "it's not about
how much money you make, it's about
how much you keep," but this shouldn't
be an excuse to disregard earning
completely. To keep money, you have
to earn it in the first place. A common
thread among millionaires is that they
develop multiple streams of income
and have smart savings habits.

2. You haven't started investing

One of the most effective ways to earn
more money over time is to invest it ,
and the earlier you start, the better.
"On average, millionaires invest 20% of
their household income each year.
Their wealth isn't measured by the
amount they make each year, but by
how they've saved and invested over
time," writes Ramit Sethi in his New
York Times best seller, "I Will Teach You
to Be Rich."
The more you can set aside, the better,
but even a little bit can go a long way,
thanks to compound interest. An easy
way to dip your toe into the investing
pool is to start saving for retirement
using accounts where your money is
invested, like a 401(k) or IRA.
Why do the rich get richer?

3. You're content with a steady paycheck

Average people choose to get paid
based on time — on a steady salary or
hourly rate — while rich people choose
to get paid based on results and are
typically self-employed.
"It's not that there aren't world-class
performers who punch a time clock for
a paycheck, but for most this is the
slowest path to prosperity, promoted
as the safest," Siebold says. "The great
ones know self-employment is the
fastest road to wealth."
While the world-class continue starting
businesses and building fortunes, "the
masses almost guarantee themselves a
life of financial mediocrity by staying in
a job with a modest salary and yearly
pay raises," Siebold explains.

4. You buy things you can't afford

If you live above your means, you
won't get rich.
Even if you start earning more or get a
hefty raise, don't use that as
justification to give yourself a lifestyle
raise.
"I didn't buy my first luxury watch or
car until my businesses and
investments were producing multiple
secure flows of income," writes self-
made millionaire Grant Cardone at
Entrepreneur . "I was still driving a
Toyota Camry when I had become a
millionaire. Be known for your work
ethic, not the trinkets that you buy."

5. You're pursuing someone else's
dreams — not your own

If you want to be successful, you have
to love what you do — that means
determining and pursuing your passion.
Too many people make the mistake of
chasing someone else's dream — such
as their parents' — explains Thomas C.
Corley, who spent five years
researching self-made millionaires.
"When you pursue someone else's
dreams or goals, you may eventually
become unhappy with your chosen
profession," he writes in "Change Your
Habits, Change Your Life." "Your
performance and compensation will
reflect it. You will eke out a living,
struggling financially. You simply won't
have the passion that is necessary for
success to happen."

6. You rarely step outside of your comfort zone

If you want to build wealth, be
successful, or get ahead in life, you're
going to have to get used to uncertainty
or discomfort.
Rich people, in particular, find comfort
in uncertainty.
"Physical, psychological, and emotional
comfort is the primary goal of the
middle class mindset," Siebold writes.
"World class thinkers learn early on
that becoming a millionaire isn't easy
and the need for comfort can be
devastating. They learn to be
comfortable while operating in a state
of ongoing uncertainty."

7. You don't have goals for your money

Money won't just appear — you have
to work at it. If you want to eventually
build wealth, you have to have a clear
and specific goal in place before
forming a financial plan to achieve that
goal.
Rich people choose to commit to
attaining wealth. It takes focus,
courage, knowledge, and a lot of effort
— but it's possible if you have precise
goals and a clear vision, emphasizes
self-made millionaire T. Harv Eker, "The
number one reason most people don't
get what they want is that they don't
know what they want. Rich people are
totally clear that they want wealth."

8. You spend first and save what's left over

If you want to get rich, you have to pay
yourself first.
"What most people do when they earn
a dollar is pay everyone else first," self-
made millionaire David Bach writes in
"The Automatic Millionaire." "They pay
the landlord, the credit card company,
the telephone company, the
government, and on and on."
Rather than spending and then saving
whatever is leftover, save first. Set
aside at least 10% of your gross income
and make the process automatic, Bach
emphasizes. That way, you'll never
even see the money and you'll learn to
live without it.

9. You believe getting rich is out of your reach

"The average person believes being
rich is a privilege awarded only to lucky
people," Siebold writes. "The truth is, in
a capitalist country, you have every
right to be rich if you're willing to create
massive value for others."
Start asking yourself, "Why not me?" he
encourages. Next, start thinking big.
Rich people set their expectations high.
Why not $1 million?


Source: www.independent.co.uk/news/business/9-signs-youll-never-be-rich-a6986401.html

Dont you think number 1 and 8 arent contradicting?

ADONBILIVIT

o.p gimme your head!

and i'll be rich in just a week

Awesome

HawksDude:
Dont you think number 1 and 8 arent contradicting?

Nope it doesn't bro....8 simply means setting aside some cash u earn 1st for urself b4 spending d rest on oda tins while 1 means focusing more on earning higher dan been comfortable with ur little earnings dis could mean dat u may have to try ur hands on tins aside from ur regular job or biz in oda words u can put all ur eggs in 1 basket....spread dem

Raydos:
o.p gimme your head!

and i'll be rich in just a week

Dis guy must be an Ibo man.....lol

MVLOX:

Dis guy must be an Ibo man.....lol

not really!