10
(More) Reasons You're Not Rich
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. The list of reasons
you may not be rich doesn't end at 10. Caring what your neighbors think, not
being patient, having bad habits, not having goals, not being prepared, trying
to make a quick buck, relying on others to handle your money, investing in
things you don't understand, being financially afraid and ignoring your
finances.
Here are 10 more
possible reasons you aren't rich: you care
what your car
looks like. A car
is a means of transportation to get from one place to another, but many people don't view it that way.
Instead, they consider it a reflection of
themselves and spend money every two years or so to impress others.
You feel entitlement. If you believe you deserve to live a certain lifestyle, you will have to borrow money. That large chunk of debt will keep you from building
wealth.
You lack diversification. There is a reason one of the oldest pieces of
financial advice is to not keep all your eggs in a single basket. Having a diversified investment portfolio
makes it much less
likely that wealth will suddenly disappear.
You started too late. If you find you're always saying there will be time to save and
invest in
a couple more years, you'll wake up one day to find retirement is just around the corner
and there is still nothing in your retirement account.
You don't do what you enjoy. If you choose a job you don't like just for the money, you'll likely spend all that extra cash
trying to
relieve the
stress of doing work you hate.
You don't like to learn. You may have assumed that once you
graduated from college, there
was no need
to study or
learn. That attitude
might be enough
to get your
first job or keep you employed, but it will never make you rich.
You buy things you don't use. Take a look around your house,
in the
closets, basement, attic and garage and see if there are a lot of things you
haven't used in the past year. If there are, chances are that all those things you purchased were wasted
money that could have been used to increase your net worth.
You don't understand value. You buy
things for any
number of reasons besides the value that the purchase brings to you.
(Source: Strain, Jeffrey. 2008. 10 (More) Reasons You're Not Rich taken from http://finance.yahoo.com/)
Note :
Subject
Verb
Complement
Modifier
Verb II:
- Earned
- Prepared
- Diversified
- Started
- Assumed
- Might
- Graduated
- Purchased
- Wasted
- Used
- Could
