“Richer” and “poorer”, as the saying goes.
You may also be familiar with the follow sayings:
- Money does not grow on trees
- Money cannot buy happiness
- You have to pay your dues
- Wealthy people are unhappy
- It takes lots of money to make money
- Wealthy people never enjoy happy relationships
- You have to be born into money
Do you believe any of these these kinds of attitudes about the wealthy? Perhaps you even pass these thoughts and attitudes along to your children.
How about this… can a really wealthy person be a good person? I hope your answer is yes, because, after all, you are a good person right? You want to be wealthy right? If you hold the belief that wealthy people are not good, you create cognitive dissonance in your life, and you will be mentally blocking your own success. Attitudes like those listed above can literally block you from achieving success.
Some interesting stats. (Source: Smart Money, Apr 2001):
At the current rate of wealth creation by the year 2005 out of 100 people at age 65:
1% - Will be wealthy (net worth of $5 million or more)
4% - will be financially independent (net worth of $1 million to $4.9 million)
41%- will still be working
54% - will be dead broke
Why is it that the rich are getting richer and poor are getting poorer? A lot of it has to do with the way we think about money.
Its been said that if all the wealth of the world was spread around, everyone would be millionaires, but within a few months, those who were previously wealthy would have 95% of that wealth back again and the rest would be back to their middle/lower class stations in life. Harv Ecker sites the example of Donald Trump, who is a 2-time rags to riches story. He was multi-billionaire and lost it all going into huge debt, but within a few years he made it all back again plus more. Harv Ecker says that we have certain financial levels that we are acclimatized to which will determine our maximum earning potential. Donald Trump has a high level so he always ends up with lots of money.
Its one thing to track and organize your money with a great tool like CalendarBudget. But, in order to be truly successful you must have the right attitude about life and money.
But, what is the right attitude? Thoughts?
December 20th, 2007 at 8:16 pm
My attitude towards money (right or wrong, who knows?):
1) Forgive small debts. Friend borrows 5 bucks, never ask for it back.
2) Help a friend out. Sometimes friends and family fall on hard times. Anonymously buy them some groceries, or presents at Christmas.
3) Don’t practice charity without practicing generosity. Pay tithing, give a good amount for the poor (fast offering), always check my pockets for change when I see the homeless, take a friend out to lunch once in a bit, buy the popcorn at the movie.
4) Don’t deny yourself a pleasure you can afford. Don’t be so tight-fisted that you deny yourself or, especially, a loved one, something that will bring happiness.
5) Always give away things I don’t need. I never throw out clothes, old furniture, appliances. I like to make sure that they go to someone who can make use of them.
I guess my overall thing, with money and resources and skills, is to be generous, to share, and to help out.