Why is it that the majority of people don’t succeed in life, this when it comes to their financial well being. We live in one of the wealthiest nations on the planet, and with all the resources that’s available and exists, just a handful will stand out and become rich. This in a world of free enterprise.
For those who do become rich, it doesn’t appear that gender, ethnicity, education, or methodology matters that much. Then there are others, who appears gifted, seems intelligent, often with higher education, who fails financially, as their lives are filled with turmoil and struggle. They constantly spin their wheels and get nowhere.
So what’s the distinction, the difference between the two. Is it luck which allows some to acquire wealth. Did a career turn into a prosperous business, or did they buy lotto tickets. Did they marry into money, or inherit it.
What The Majority Will Do
There seems to be a common denominator, on how the lives of most are mapped out. Beyond going to school as children, they’ll get little post secondary education while choosing the wrong career. They’ll work long hard hours, and try to save some money for retirement.
What’s known is that the majority of the population will follow this route, and once they reach 65 and ready to retire, most are broke and will receive a small pension. Some need to be supplemented by the welfare system.
5% Percent Of The Population
Then there’s the 5% of the population who’s referred to as being “financially independent,” which means they’re able to stop working whenever they want to, and live a comfortable life.
What it doesn’t mean is that they’re rich. What they have is enough money, so they can support themselves without assistance.
Then there are the elite 1% percent of the population, who are considered rich. What they’ve managed is to generate massive amounts of money to live a luxurious lifestyle, as they’ve beaten the elusive formula which is “time = money.”
Lack Of Time And Money
There are some who are considered rich, but what they don’t have is access to their money, or the time to enjoy it. What they need is to keep on working, as they’re asset rich but cash flow poor.
This is a situation that’s generally not considered ideal. Money that can’t be spent because it can’t be accessed, is pointless and similar to having no money at all.
Then sadly, there’s a portion of the population who are rich, but for whatever reason, they can’t or refuse to live the quality of life they can live. This because they have a scarcity mindset. No amount of money can cure their insecurity.
Those People You Knew
Say that your graduating class had 100 students. Once you all reach 65, despite all your best efforts, 71 of you would be poor, a percentage would have died, and a small minority would be rich.
For those who have passed, what the experts claim is that it’s most likely because of “cancer of the wallet.” This refers to the financial stresses of life becoming too unbearable. Not being able to live a healthy life because they were broke.
That Day You Graduated
So the day you were leaving high school, the day you graduated, what if the teacher asked the class. “Who’d like to go out into the world, work a job that you hate, then slave away hard at it for the next 45 years?”
“You’ll work 40 or more hours Monday to Friday, just to survive. Eat and pay the bills. You’ll never be able to do the things you’ve dreamed of, this because you won’t have enough money or time.”
“Then once you reach the age of 65, what you’ll then be forced to do is retire, this because you’re too old and useless. Then within 2 to 7 years, some of you will likely succumb.”
“So what percentage of you students would like to volunteer to live that life?” Maybe the few renegade sarcastic students who were sitting in the the back of the class, will put their hands up, but most won’t think that’s them.
What They Fail To Teach In School
“On the other hand, how many of you would volunteer to learn how to set yourself up financially at an early age? So once you reach 40, you won’t need to work another day in your life, this if you don’t want to.”
“You could then spend all of your free time with your family and friends, travel to all the locales that you learned about in school. Have a career and life that you’ve dreamed of.”
Almost everyone would raise their hand, except those few in the back of the classroom, who were not paying attention, so they misunderstood the question.
The Numbers Don’t Lie
So once you reach 65, some of your classmates would have passed away, most will retire broke, some will be living below the poverty level. Around 51% percent will be living a comfortable life, while just 5% percent will be enjoying a rich life.
What’s apparent based on these statistics, is that it’s not going to work out well for many. Most would look at this data, and hope that they’ll end up living a comfortable life.
Most will be average, they won’t be dead or broke, or become rich, while thinking that those who do become rich, must of lucked out.
It’s probably best to take the advice of someone successful, who said, “If you’re really wanting to succeed, what you need to figure out is what most are doing, and then do the opposite.”
So what they’re recommending is to swim upstream, choose to do and be where others aren’t, as that’s where the gold is.