6 false beliefs that make it difficult for people to get rich

The notion that education is the only way or the reluctance to do a job you don’t like only makes people poorer and poorer.

Steve Siebold is a financial expert, having consulted for many large companies such as Johnson & Johnson, GlaxoSmithKline, TransAmerica and Yamanouchi. He is also the author of the book “What do rich people think?” and “How does money work?

To find the answer to the question “how to get rich,” Steve Siebold spent 36 years researching and interviewing more than 13,000 millionaires and middle-class people.

He realized that the super-rich group has always had an unusual belief, philosophy and strategy. Their secret to getting rich is not in making money, but in building values ​​and mindsets instead. In other words, to be a rich person, you have to think like a rich person.

To be able to become a self-made millionaire like today, helping young people avoid making mistakes when making money, Steve Siebold pointed out 6 common but wrong beliefs of the middle class on the way to riches.

“Working hard even the things you hate will make you rich”

Most people tend to stay at work for many years, even fearing being fired because they believe it is the most effective way to get rich.

As Hadas Weiss, an anthropologist at the Madrid Institute of Advanced Study, argues in his book “We Have Never Been Middle Class: How” Social Mobility Misleads Us), middle-class ideologies seem inextricably linked to meritocracy, that we must work hard to prove our worth and get paid.

But rich people think of doing it for passion. Once they find a job they love, they will put their heart and soul into it and become the best in that field. So, find work we love and use it to get rich.

“You can’t become rich without formal education”

Many people believe that investing in education, having many degrees will determine wealth. But if you only rely on grades to get rich, every excellent graduate is a millionaire.

Rich people understand that financial success has little to do with a degree. What you need to gain is practical knowledge, how to invest or connect with good people to promote growth.

In fact, some of the world’s top billionaires without formal education like Dell Technologies CEO Michael Dell – worth about $ 32 billion, according to Forbes, dropped out of the University of Texas (USA) when just 19 years old; Or as Apple co-founder Steve Jobs once said, dropping out of Reed University was one of the best decisions ever made.

According to experts, formal education does not guarantee success, the key is to find love and strengthen skills to become rich.

The notion that only education is the only way to get rich makes many people forever unable to be rich. Illustration: Freepik.

“Wealth is by chance”

The average person believes that being rich is a privilege only available to a lucky few. But instead of trying to accumulate, secure the money you have, come up with many bold ideas, dare to challenge to achieve success.

“Wealth only makes people worse”

Contrary to popular belief that money can be the driving force for good things. Based on interviews, Steve Siebold found that most of the middle class has the belief that success and money easily make people greedy and evil.

Millionaires believe that money helps to reflect a person’s true nature. If you were a scammer or scammer before you got rich, you could be worse off owning a lot of assets. But if you are honest, humble, and hardworking, you can become a good person with ever-expanding financial resources.

Therefore, if you always strive to be a kinder person and give more, money will strengthen your morality and character.

“Make a safe investment”

Many people tend to be careful with their finances for fear that if they lose money, it will be difficult to get it back. But the rich are the opposite. They use money to make more money, but also determine to take risks.

If you want to be rich, increase your risk tolerance by betting on yourself when investing or doing business.

“Teaching children to save”

Focusing only on saving money is something the super rich never do. According to a 2018 survey by US investment company T. Rowe Price with more than 1,000 young people (from 18 to 24 years old), 30% said that when they were 15 years old, their parents taught them about money. And 82% of them said they were taught mainly about saving and living frugally.

While the super rich are always looking for ways to increase their income 2-3 times so that they can enjoy the good life. Then, invest the rest of the money in stocks, bonds, and real estate to increase your assets.

The rich people Steve Siebold interviewed see money as a medium of exchange that needs to be circulated and developed, and passed on that view to their children by teaching them to invest wisely. They acknowledge saving is important, but emphasize the importance of increasing the child’s resources.

“Money makes people nervous and emotional”

Most people never amass huge fortunes by looking at money with negative emotions. As adults, many people are brainwashed by the notion that finances lead to stress and anxiety.

But the richest people see money through a logical eye. To them, money is simply a tool for opportunity and choice. When it comes to strategies on how to make more money, they put emotions aside and use reason as a guide.

As Irish writer Jonathan Swift once said, “A wise man should have money in his head, not in his heart”. Therefore, you need to use your mind to come up with a financial strategy and only use your emotions to push yourself to stick with it.

Phuong Minh (According to CNBC)


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