10 False Beliefs In Becoming Wealthy

Beginning to think about financial freedom creates a question on the back of our minds - Is it really attainable? Building wealth starts with building your mindset towards your goal to financial freedom. However, there are some ideas and beliefs that can sometimes block your way and even disrupt your mindset and can slow or stop you from reaching your goal. [panel-image src="http://moneygizmo.net/wp-content/uploads/2013/01/millionaire-mindset-false-beliefs-in-earning-wealth.jpg" caption="Are you believing in some of these false beliefs?"] Here are some of the myths on earning wealth [impt text="1. Earning wealth is easy."] Do you know a super rich guy who earns his wealth overnight? You may say the lottery millionaires but what they have, even if it is in millions, doesn't count as wealth until they made it growing and self-sustaining. Earning wealth doesn't come in easy steps. Some would spend half of their lives building wealth. There is a great amount of skills, time, effort and money involved in making your way to financial freedom and there's definitely no shortcuts.[divider] [impt text="2. There is no need for a capital."] As I have said on the first item, earning wealth needs money. Especially when you are just starting. You somehow need to look for seed money. It can be a loan from the bank or your savings as an employee.[divider] [impt text="3. No loss involved."] In business or any investments, there are risks involved and these risks can mean getting losses. People who are wealthy today also suffered from these losses. What matters is how you learn and cope up from these losses.[divider] [impt text="4. Business won't close."] Sometimes losses are very big it would require your business to be closed. Or in some, would require you to withdraw from your stocks or mutual funds having a negative gains. This is called stop loss and is done to prevent doing more damage before it does more damage to your principal.[divider] [impt text="5. There's not much time involved."] Time is a very good friend if used properly. Wealthy people exert a great amount of time planning, researching, and acting on their ventures. They experience a lot of sleepless nights and would work more than 24 hours a day.[divider] [impt text="6. I came from a poor family, I will die one."] Ever heard of people whose stories are from rags to riches. Yes, it does not happen only in fairy tales but a lot of people are living proof such as Manny Villar, Henry Sy and Socorro Ramos. If you are poor today, then you should forget about this mindset.[divider] [impt text="7. My country is poor, its hopeless."] If you are from a poor country and you think that being rich is imposible living on that country, then forget about your dream. you should instead think of it as an opportunity that would possibly help your country get out of poverty.[divider] [impt text="8. I did not finished college, I won't be wealthy."] I am pretty sure you know Steve Jobs, Bill Gates and Mark Zuckerberg. Yes, they are three of the most wealthy people today and they all have something in common - they are all college drop outs. If you are not able to finish your college due to some reason, you should not feel deprived of the opportunities that you might be able to get only if you are able to graduate. Instead, take this as a challenge and remember, those opportunities are mostly for those people aiming to be employees and you should be aware that only a small percent of employees become wealthy. Go try what you have on business. You might become the next billionaire drop out.[divider] [impt text="9. I am old, there's no more chance."] Nobody's old when it comes to earning wealth. Though you might have more challenges than the younger ones, it is never too late to start thinking about how would you reach financial freedom. For the yuppies out there, take the opportunities as early as possible because that's one of your advantages.[divider] [impt text="10. Its only a dream."] Everything starts with a dream - a dream to achieve financial freedom, a dream to have a better life and a dream to help people to be successful like yourself. Start dreaming today but don't let it become just a dream. Act on it. Exert effort. Research and study. Learn new ideas. Save and invest. Learn from your mistakes. And last but not the least... forget about these beliefs here because the one thing you should believe is... You can do it! Image from http://jimwhittakerblog.com

Mark Hugh Neri

Looking for financial planning workshop or for life and/or health insurance with investment options? Got questions related to personal finance? Feel free to message me at Money Gizmo (see link below)

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