Available data shows that the majority of people never go beyond average incomes to join the top cream of high-net-worth individuals. A small minority get to the level they are able to enjoy some basic comforts above the majority poor. This cycle is repeated from one generation to another.
The question one is left to wonder is why this is the case, yet every person wants to be at the top. Why is it that only a small number makes it to the top?
In this article we share 5 reasons why this is the case and that you can avoid to escape what I call the middle-class trap.
- The ‘me too’ syndrome – for most people, they acquire things or items simply because they have seen others with a similar thing. Trying to be like others is the easiest route to self-inflicted financial ruin;
- Lack of confidence in own abilities – many people do things to receive affirmations from others. If there is one thing you can do for yourself, it is to develop a thick skin about the views and opinions of others. Ultimately, what others say or think about you amounts to nothing –only your own choices and actions will determine your money destiny;
- Lack of clear personal goals – having clarity on where you want to be say 1, 3, 5 or 10 years ahead brings a sense of purpose & focus on what you do and what you shall not do. Leaving things to chance will surely get you swayed by whichever wind blows by your side;
- Lack of strong will – in real life, each one of us gets all sorts of ideas, suggestions or propositions from family, friends, colleagues and sometimes total strangers. It is easy to be carried away by these emotions. Personal success is first and foremost from within you, not from outside. Oftentimes, you will need balls of steel to go against the gravy-train; and
- Love for easy things – the world of money works with the law of process. There really are no shortcuts to truly sustainable money & wealth. The long and winding road is almost always the right way when you are looking for money. Trying shortcuts is trying to beat the law of process, that no man has ever been able to beat it.
NB: The art of patience is the greatest gift that you can give yourself in your journey to money and wealth. Every small step made in the right direction counts a lot in the medium and long term.
As I have always said here before, when money starts coming, it appears to come in floods –but this is due to the small milestones that were achieved years before, when no one seemed to notice.
That is why we are encouraged to build in silence –people will only notice when the big money starts flowing. Most folks will never understand this principle, and the few who do are the ones who get rewarded highly.