We have all embarked on the pursuit of making money. The essential ingredients of making more money include setting goals, focusing, and working relentlessly toward the goals.
If you concentrate on your goals every day, you will eventually make a lot of money. A question might be raised – the world’s resources are finite; so if you get more for yourself, aren’t you making others poorer? As the proverb goes, “The rich become richer while the poor become poorer.” Is making more money equal to being greedy?
I don’t think that is the case. Today, increasing numbers of people are shifting toward a simpler lifestyle. We know if we consume more than $10,000 worth of resources every year we are actually taking more than our fair share. But you cannot make more money until you stop thinking money is the root of all evil. Here I am taking a shot at communism and its principles.
Greed and money
As a child, I used to think about the super rich, wondering why they still wanted to make money. I am talking about people who regularly appear on the Forbes list. To me, initially, they were greedy – until I discovered the true meaning of greed.
Are Warren Buffet and Bill Gates greedy? You might think they are, but let me tell you, they pledged to donate their entire wealth to charity once they are gone. Good people want to help mankind by their messages, their actions, their wealth, or just by the way they live.
I am not comparing Bill Gates or Warren Buffet to Jesus or Buddha or Mohammed, but compare their intentions – do they look same to you? The rich and good people, I’m sure, took some actions which caused pain and sadness to many people. However, compared to the good things they intend to do, those past actions don’t seem as bad.
You can’t create more wealth if you feel guilty for trying to improve yourself financially.
Four steps to build wealth and becoming richer
I have learned these lessons the hard way. It has taken me over twenty years to finally be able to understand them, from my beginnings selling sweets on the playground to where I am now. I still want to make more money and be able to do whatever I want financially, but I am closer to my goals than when I first started out.
1: Remove the mental barriers
As human beings, we are programmed to believe that building wealth is nothing but greed. I see people every day talking and preaching about how we should get rid of wealth and live a simplistic life. The truth of the matter is, these same people are making money telling you to be simplistic. Get rid of the “money is the root of all evil” mentality as soon as you can.
This is the first block in your mind that prevents you from thinking toward building serious wealth. You will snatch others’ bread; rather, if you become rich, you will make others rich along with you. You can give happiness to many more individuals than you could with your current wealth.
When we were born, our parents didn’t think we would struggle to save for retirement or reduce our debt. Did you imagine yourself living in debt during your childhood? Where have those ambitions and dreams gone? Wake up to the possibility of becoming rich and building wealth.
2: Start The journey
Only the destination differentiates a journey from simply roaming around. In order to get somewhere, we need to drive our own vehicle. If we drive someone else’s vehicle, we are essentially cab drivers – we roam around and return to the garage at night. We work for someone who makes money and pays our salary.
Isn’t it amazing how we live our lives? We go to school, graduate, go to work, continue to work for years… Some wise people among us save money to have a worry-free retired life, while others struggle during retirement. Even in retired life, we really can’t enjoy ourselves because our healthy years have already passed.
Get a vehicle and drive it yourself – gain control and start moving toward your destination. Chances are, you will fail as the risk is much higher. Hey, when you invest in the stock market, don’t you take risks? Think of the reward you will get at your destination. Dream of the rewards; dreams are what we have lived for since childhood. A dream of getting a job, a dream of a beautiful family, a dream of home.
Set small intermediate destinations to reach during the long journey. Start small, dream big, and continue driving. When you fail, shrug it off, learn from it and try again. Don’t be afraid to take risks again.
Risk aversion is the primary reason we end up being good workers for someone else all our lives. This is the same reason we think of securing our retirement life first when we win the lottery. Unless you take big risks, you cannot achieve wealth – it’s as simple as that.
3: Take on passengers
A journey cannot be completed alone. You cannot build the amount of wealth we are talking about here on your own. Don’t leave your friends and family during your journey, because they are the people to turn to when you face failure. No matter how successful you are in life, you will have days when you need a shoulder to cry on.
Fellow passengers are needed to get over the boredom. People don’t climb Mount Everest alone. Even a constant upward ride is monotonous movement. A driver doesn’t win a car race; its the team who wins, starting from the car’s painter to the engine designer. Everybody contributes to the driver’s success.
Apart from your friends and family, you need strong heads to rely upon. You cannot continuously make all the hard decisions yourself. You need to build up an equally strong support system. At any point of the journey, if you come across such a person, take him/her with you. Gradually build a strong team that will support you in your mission.
People have dreams. Help them realise those and they will help you realize yours. Let them make money and you will earn a lot more.
4: Share the wealth and wisdom
Follow the great. This one step determines if you are greedy or great. This is my dream – to give back to society through whatever I will achieve. I just started the journey, so I have a long way to go and many failures to experience. When I reach a stage where I can fulfill all my dreams and have plenty to take care of me and my family, I will give back.
I love to read interviews and biographies of great moneymakers. They love to spread their wisdom because they want other people to be enriched. It’s more than giving money; it’s teaching the way of making money that helps people more.
If you want to help the world and the people around you, the best way is to share your success formula and the knowledge you’ve earned during past failures.
Again, coming back to consuming more than our fair share, there are people on this earth (and lots of them) who don’t get enough to eat every day. Help them realize their own big dreams of getting food, shelter, and clothes to wear. Amen!
Get my new posts directly in your email account or e-readers by subscribing to my RSS feed, and could you please click on that Google +1 button at the top?
Aaron hung @ aaronhung.com says
go big or go home right? People who take risks are the ones enjoying life, you can’t get rich by taking it slow. Taking actions is what separates the winners and the losers.
Invest It Wisely says
Good post. In fact, one of the biggest mental blocks is thinking that there’s such a thing as a “fair share” or that rich people are greedy because they are rich.
Things are not black and white in this world because there is corruption, crony capitalism, and a monopolized money supply, but in spite of that, a large portion of earnings are still often decided by the customer. What could be more fair than getting paid what people voluntarily decided to hand over to you in exchange for your products and services? 🙂
I don’t think there’s any need to give to charity in order to repay some alleged guilt, because if you were honest in your life and earned the money by creating value then there should be no guilt. The big entrepreneurs of our time like Steve Jobs (whether you personally love or hate Apple) added value to this world and “gave back” in a different way: by creating something that people are willing to pay for.
So, I totally agree with you and believe that this is often a big mental block that holds people back! I believe in charity myself, but I also believe that you should do it out of love not out of guilt, and you should never feel bad for having honestly earned wealth.
Paul @ The Frugal Toad says
Great topic SB! When I chose to go into Teaching I gave up any hope of becoming wealthy (financially). Also, when you have a family to support it makes it difficult to take risks that could jeopardize the Family. I think you can have both but the added responsibilities of a family make it more of a challenge.
Financial Success for Young Adults says
Speaking of books by great moneymakers… I just read over at Forbes that Robert Kiyosaki and Donald Trump just released a new book. It looks like a great read. If I get a chance to read it in the next few weeks I will write up a review.
Removing mental barriers is a big and important step. We have to believe in ourselves before we can take action. Sometimes it takes years before we find our passions in life, so if people who know what theirs are early on, they are lucky. Once you find what you love and turn it into a career, that’s when you know you’re living your life right, regardless if you’re rich or not. -Sydney
Martin Dunn says
Forming a team to pursue goal is very important step we often forget and we go on creating wealth. We only think about our self which is a little on narrower side.
I agree with you – 100% . Drive you own vehicle, how true it is!
wonderful post. I think everyone knows but no body takes that right first step..
becoming rich is something we all need but too hard to get since we spend too much on things we like and cant live without it
Diego have a budget and don’t overspend. In budget aim for saving at least 15% of your income every month. you’ll be rich. But the idea of my post was to do something which is not a 9 – 5 work.
Thanks a lot for sharing this valuable article it’s very interesting to read this of information that’s give ideas and knowledge to the reader’s..great post..!!!don’t be greedy in the matter’s of money..!!share your wealth..!!
I believe being greedy is fine as long as you’re eager to share..