This article isn’t for everyone. If you plan to be a lottery winner, or expect to be an entrepreneurial success, or anticipate a large, life-changing inheritance, you can stop reading now. This article isn’t for you.
For the remaining 90% of people, read on.
There are three things you need to know about getting rich. Those three things aren’t secrets, but they are probably shocking to many people. To be fair, they are more like obstacles than sage advice.
Fortunately, if you can overcome the obstacles, your ticket to riches may just be punched.
To overcome them, however, you first need to know what those three things are. It is difficult to win a battle if you don’t know your opponent. So without further delay, listed below are the three things you absolutely must know about getting rich.
It’s often not fun.
It’s typically not glamorous.
It almost always takes a really long time.
I bet you can’t wait to get started.
Simply knowing those three things, in fact, just might deter you from embarking on a journey to riches in the first place. And that’s the crux of the matter. The very reason it does not sound appealing is the very reason why so few people ever attain real financial comfort and security.
Let’s talk about each of the obstacles to getting rich.
Why is it not fun? Because spending is fun. Buying the latest and greatest gadget is fun. Updating your wardrobe with the new fashion trend is fun. Getting a new house or a new car is fun. Do you know what’s not fun? Saving. Unfortunately, saving is like water; without it, nothing grows.
Why is it not glamorous? Investing in the hottest fad is glamorous. Talking to friends about your latest hot-shot investment is glamorous. What’s not glamorous? Diversifying your investments and rebalancing your portfolio periodically. Unfortunately, unless you’re the next Warren Buffett, diversification and rebalancing are the surest ways to wealth.
Why does it take a really long time? Because some things just take time. It’s been said that you can’t make a baby in one month by getting nine women pregnant; it just takes time. Building wealth is no different. Over time, however, you will be astonished by the wealth you can build. Be patient.
If ever there was a secret to becoming wealthy, for the vast majority of people here it is: Getting rich is a grind. But if you can endure the drudgery, it is quite possible to one day find yourself in an extremely fortunate financial position.
Far from fun, anything but glamorous, and a long time in the making. The real question is, “Do you have the willpower and discipline to be rich?”