The true secret to wealth creation is having the right attitude and the will to achieve success. The main problem that most people encounter is the negative myths about creating wealth that discourage them from even trying to create wealth. There are five common myths about creating wealth that people often fret over, and why they shouldn’t be believed.
“The only way to create wealth is to sell something.”
If this is one of the first thoughts that enter your mind when you think about wealth creation, then stop right there and knock on your noggin a few times. You don’t have to sell something yourself or start up your own business to make money – there’s always the option to invest in something. You can invest in a business or service, or even stocks. But then, even if you’re aware of that, you’ll often run into the next myth, which is…
“I don’t have enough income for an investment.”
This is completely untrue. Most people actually do have enough income to invest or to use as capital for any other wealth creation endeavor – it’s just that most people also have spending problems. If you sit down and take a good look at your salary to calculate how much you can earn in your lifetime without accounting for your expenses, you might be surprised by how much you could possibly make. The trick is to manage your expenses properly, and remember to set aside enough for your investments.
“I don’t have the proper education for this!”
While education is important, it certainly isn’t a requirement for wealth creation. Just take one good look at the millionaires who never even made it past college (like Bill Gates and Steve Jobs) and you’ll see that you don’t have to have a diploma to be able to strike it rich.
“There aren’t any good investments left for me to take!”
The realm of investment is a very competitive place, so no doubt you’ll be discouraged by the fact that so many of the good investments have already been taken. Don’t lose heart! There are plenty of markets out there, with plenty of opportunities for you to take advantage of. Sometimes you have to really dig in and sift through a ton of potential investments until you find a wealth creation gold mine – you just have to persevere and keep trying!
“It’s just too late. I’ve screwed everything up already and I’ll never get myself out of this ditch.”
Never say never! There’s no such thing as “too late” here – all those mistakes you’ve made are simply stepping stones toward your success. Learn from them and move on, making sure to use the lessons you’ve learned to avoid making the same mistakes again. And if you’re worried about your age, don’t worry about it. There are plenty of entrepreneurs out there whose wealth creation only kicked in during the latter years of their life, like Ray Croc, the founder of McDonald’s.
For more advice and information on wealth creation, don’t forget to visit Wealth Creation.