The Ultimate Wealth Barrier Is In Your Head
In the US today, 1 of every 25 households have $1 million or more. In fact, 920,000 millionaires were minted globally in 2014, which is a 7% growth rate in one year! The vast majority of this club are first generation wealth, and not inherited.
This group of people is very diverse, and besides their wealth accumulation, has very little in common in terms of age, backgrounds, areas of specialization, intelligence, etc.
One of the few things they actually do have in common (which most people do not) is a set of beliefs about themselves. These folks have broken through their own self-limiting doubts and worries to achieve their financial goals.
The article below is one of many similar ones written by a self-made millionaire, and you’ll learn why the most difficult barrier you’ll ever have in achieving the wealth you desire is your own self-limiting beliefs.
Read below, and share what you think!
I’ve made millions by trading penny stocks and teaching my students how to do the same, but what a lot of people don’t know about me is that I was a philosophy major in college.
If I hadn’t been willing to break through the fixed beliefs everyone was trying to sell me, I’d probably be flipping burgers today like so many other philosophy majors out there.
So that’s what I challenge you to think about today… What beliefs do you hold as reality that might not be true at all?
Do you think that it’s too late for you to be a millionaire? It’s not. Age doesn’t matter. You can absolutely still achieve success if you’re willing to work hard and recognize you need a different approach to turn a small portfolio into a wealthy account.
Do you think that you had to be born into your millions? You don’t. I come from a middle class background in Connecticut (not even the nice part). My parents aren’t wealthy, and I don’t have any kind of inheritance to fall back on. Everything I’ve earned, I’ve earned myself. You can do the same if you’re serious about becoming a millionaire.
Do you think you’re too stupid to be a millionaire? You’re not. Millionaires aren’t all nerdy Bill Gates types. More often than not, they’re people who figured out a system for building wealth and worked that system, day-in and day-out, without thinking too much about how or why it works. I’m not a genius, and I’m far from the smartest person hanging out on my forums. Believe me when I say that if I can do it, so can you.
Those are just three examples. Maybe you fall into them, maybe you don’t. If you don’t, there are probably other self-limiting thoughts that are holding you back from your financial future that you need to weed out and eliminate.
To get started, think about the wealthiest person you know, whether that’s me or somebody else in your life. If you catch yourself thinking, “I could never do what they’ve done,” ask yourself why. Really dig down. What makes you think you aren’t capable of doing the same thing? Then, explore why you think those things. Are they actually good reasons, or are they things you’ve told yourself for so long that you’ve turned them into your reality?
I’d be willing to bet that your reasons aren’t reasons at all — they’re excuses. Make it your mission to find them and destroy them. Join the rest of us who have escaped the cave and banished the self-imposed limitations that would have otherwise kept us from becoming wealthy.
What’s one self-inflicted belief you have that’s holding you back?
Article thanks to Timothy Sykes at entrepreneur.com