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5 Simple Reasons Most People Will Never Get Rich ...and How To Make Sure You Do!
by Mike Litman
What did I learn about getting rich by
interviewing over 20 self-made millionaires?
Well, after interviewing one famous self-made
millionaire after another I realized many of
the secrets that make them rich while others
continue to struggle.
When you understand and do what self-made
millionaires do, you get to become one of
them. If you don't understand and do what
they do you don't get to become one. It's
really that simple.
Here are 5 simple reasons most people will
never get rich and how to make sure you do:
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Reason #1 - Waiting to start:
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Most people don't want to wait for sucecss.
But, at the same time, they are willing to wait
before getting started on the road to success.
Do you see the problem here?
The longer you wait to get started, the longer
it will be before you get the money, success,
and lifestyle you want.
Many people are waiting for everything to be
perfect before they get going. Therefore, they
never get going and never get the rewards.
No race has ever been won (or even finished)
by someone who never left the starting line.
Don't wait to get going. Start today on the
road to success.
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Reason #2 - Being financially illiterate:
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The cornerstone of all wealth is understanding
the difference between assets and liabilities.
The difference is this:
Assets put money IN your pocket.
Liabilities take money OUT of your pocket.
Most people think their home, car, and other
possessions are assets.
But, the truth is that in most cases those
things take money out of your pocket. They
COST you money. They don't MAKE you
money.
Therefore, by the true definition above, those
things are liabilities.
They take money OUT of your pocket each
month.
When you have more money coming IN from
real assets than you have going OUT to pay
for liabilities, you will be financially
free.
There is only one way to do this. Which brings
us to...
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Reason #3 - Focusing on linear income
instead of passive income:
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One of the millionaires I interviewed said it
simply. He said, "if you're not making money
while you sleep, you'll never be rich."
Linear income is what you get from a job. You
work for an hour and get paid only one time for
that one hour's work, and that's it.
Passive income is when you work once but
continue to get paid over and over again from
work you're no longer doing.
Investing in or creating true assets that provide
passive income for you is your ticket to wealth.
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Reason #4 - Not understanding or using
systems for making money:
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A system for making money is anything that
allows you to make money without your own
effort. In other words, it's an automated way
to make money.
All true assets are simply "systems" of one
sort or another.
Once you create or invest in a proven system
for making money, there is no limit to the
money you can make.
Becoming a master of money systems can
bring you riches beyond your dreams.
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Reason #5 - Not being persistent or patient
enough:
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To finish any race you have to leave the
starting line and follow through to the finish
line.
Most people create their own failure by either
not getting started or not following through, or
both.
To get rich, successful, and happy you must
have the patience and persistence to cross the
finish line. You must not only get started, but
also follow through.
This may sound obvious, but it's still the cause
of most failure.
Only by joining the small percentage of people
who are willing to do the 5 things mentioned
above will you have the greatest chances for
wealth and success.
It's really quite simple...Decide to do these
things and you can get rich too. If you don't
do them, then like most people you may never
get rich.
Decide now to master the ideas mentioned
above and begin your road to success now.
Then follow through and watch the difference
it makes.
(c) Copyright 2001 Mike Litman. All rights reserved.
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Mike Litman, a popular radio talk show host,
has interviewed millionaires like the authors
of Chicken Soup for the Soul, Rich Dad Poor Dad,
and Multiple Streams of Income on his personal
development radio show and is the co-author of
the amazing new eBook filled with those interviews.
Check out "Conversations with Millionaires"(TM) at:
http://www.MillionDollarTips.com/cwm.html
Mike invites you to listen in to his top rated
radio talk show to learn the secrets of today's
biggest self-made millionaires and marketing
experts: http://www.MikeLitman.com and,
Subscribe to his FREE Radio-LIVE Newsletter
to keep up to date on his upcoming shows and
guests: http://www.MikeLitman.com
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