{"id":23960,"date":"2019-12-09T13:48:12","date_gmt":"2019-12-09T20:48:12","guid":{"rendered":"https:\/\/moneyppl.com\/?p=23960"},"modified":"2022-10-25T01:17:05","modified_gmt":"2022-10-25T08:17:05","slug":"30-signs-someone-will-never-become-rich","status":"publish","type":"post","link":"https:\/\/dev.moneyppl.com\/30-signs-someone-will-never-become-rich\/23960\/","title":{"rendered":"Telltale Signs Someone Will Never Become Rich"},"content":{"rendered":"
Almost everyone aspires to be rich one day, but very few people ever make it. If you’re reading this now, you are probably someone who is trying to climb their way to the top. However, how do you know if you’ll get out of poverty? <\/span><\/p>\n Every wealthy person has certain traits in common that have helped them surpass their humble beginnings. Others can’t seem to get over their shortcomings to make it to the next step. Here are 40 signs that someone will never become wealthy.<\/span><\/p>\n Many of the wealthiest started ventures towards wealth by partnering with a mentor who had already found success. Finding a successful mentor can save you from pitfalls on the path to wealth. You can learn from their experiences and mistakes along your journey to success. Even if your goal isn’t wealth and instead of professional success in terms of research or proficiency, a mentor is an invaluable professional partnership. A mentor not only can save you from mistakes but also help you find opportunities within your own growth that you would have missed otherwise.<\/span><\/p>\n Mentorship varies widely by field, with academics naturally being assigned a mentor and advisor as part of their education process. It can be more challenging in the private industry to find someone with the time and energy to take on a mentor, especially in very cutthroat industries like in many STEM fields. Try looking at professional organizations within your domain to find people willing to be mentors. Retirees from your area could potentially be excellent mentors since they have more time available. Keep an open mind and seek someone willing to give you honest, valuable feedback about your work and ideas, as this will be by far the most valuable thing in the long run.<\/span><\/p>\n A lot of gaining wealth is being in the right place at the right time, especially in terms of investments. Suppose someone is entirely out of touch with current trends in arts, entertainment, government, the economy, and more. In that case, they simply will not have the knowledge base of what the right place or right time even looks like, and they certainly won’t know how to harness it to amass wealth. While you don’t need to be a genius to become wealthy, you need always to be learning and improving yourself, which requires having at least a moderate knowledge of current affairs and trends.<\/span><\/p>\n Many of the world’s most successful people, including billionaires like Bill Gates and Warren Buffet, begin every day by reading newspapers like the Wall Street Journal and New York Times to keep abreast of the news globally domestically as well as keep a close eye on economic developments. Many other very wealthy people probably have assistants to do this research for them. However, ordinary people will need to commit to spending time educating themselves to get the same benefit. If you’ve spent time scrolling Facebook or watching tv in the morning, try replacing that block of time with reading a newspaper or verified, trusted online news source.<\/span><\/p>\n Making money isn’t a good pastime for the pessimistic, especially when it comes to investing. Sometimes, the key to good investing is being willing to ride out a difficult period to reach the far side where a property finally produces a profit or a stock rebounds. If someone is pessimistic, they will have a tough time seeing the light at the end of the investment tunnel. They will likely tend to fold and sell investments too early, even if taking a loss simply to get rid of the stress of a “bad” investment that they feel is weighing them down.<\/span><\/p>\n It takes a great deal of self-confidence to amass wealth, and a pessimistic person is likely to have a relatively negative view of themselves and life in general. Suppose it’s important to believe in yourself to make money, which many sources indicate it is. In that case, a pessimistic person will have a massive struggle against their gloomy nature to cultivate that self-confidence and optimism. When you look at the writings of wealthy innovators, you often see a boundless sense of optimism and opportunity, and that isn’t a coincidence. It is often that sense of optimism that allowed them to see opportunities others missed. <\/span><\/p>\n Successful people have always shot for the moon in all of their goals. Why? Think of it this way: even if you fail at reaching the moon, if you aim high, you’ll still go higher than if you made your initial goal only the top of your roof. To put it in simpler terms, if you wanted a $1 raise, would you go in asking for exactly $1, or would you try asking for $2 knowing you’d be happy to accept $1? If you always set your goals absurdly high, even partial success will take you further than a much smaller, less ambitious goal.<\/span><\/p>\n While it’s important not to discourage yourself with impossible goals, it is still crucial to set goals that are <\/span>difficult<\/span><\/em> to reach that will net you a great deal of success even if they aren’t completely met. It’s far better to fail on a huge, ambitious goal than meet a small, unambitious goal that doesn’t move you very far forward. If you always aim high, you will see higher and higher results from your hard work and determination. Couple that with shooting for the moon with optimism, and you have a recipe for success or at least stellar failure.<\/span><\/p>\n The two things money can’t (always) buy are more time and good health. While money does purchase better access to high-quality health care, it can’t fix everything. Someone who wants to be wealthy knows they must maintain their physical health to keep working to attain income and avoid costly medical care down the road. Medical debt is the number one cause of bankruptcy in the United States, and ignoring health problems often leads to incredibly expensive care requirements later on. Maintaining one’s health throughout life is a pillar of long-term financial success and stability.<\/span><\/p>\n Maintaining health is an integral part of having goals for your money, as well. Do you want to travel once you’re wealthy? If so, it’s essential to maintain at least decent physical health to fly and move around in your desired destination. If you want to be able to enjoy your money once you’ve acquired it, that will be much easier to do if you’ve paid attention to your health, including dental and vision health, all along the way. Our bodies are an essential machine for maintaining our livelihoods, and they need to be maintained just as much, if not more, than any other machinery.<\/span><\/p>\n It is very common for more impoverished people to get into a habit of paying bills first and themselves last. That is often a necessity if money is too tight and they’re living paycheck to paycheck. However, this habit can persist beyond living on such a fixed income and can continue to haunt people even once they become wealthier. It is an essential principle of savings and investment to always pay <\/span>yourself<\/span><\/em> first, even before other obligations, to ensure that you save the money you intend to keep before spending it, especially if that spending would be on unnecessary items.<\/span><\/p>\n While it is, of course, a must to pay off high-interest debts like credit cards before accruing late fees and interest charges, you should still pay yourself before spending money on anything non-essential. Even if it’s only $25 per paycheck, paying yourself first ensures that the money is set aside safely for savings and investment and won’t be frittered away through unnecessary purchases. This money can even eventually be used on a treat for yourself, but it’s important always to remember to set it aside first. It’s one of the healthiest financial habits you can build, even for small goals.<\/span><\/p>\n Many people who wish to become wealthy focus so hard on the dollars that they lose all sight of why they wanted to become wealthy in the first place. Money is ultimately a means to an end, so it’s essential not to lose sight of what you wanted the means for initially. Did you want to take care of your family? Retire early and travel the world? Start a charitable endowment? Losing sight of these tangible goals can make it much harder to maintain the work and effort required to become wealthy. A person needs to remember what all of the hard work and sacrifice is ultimately for.<\/span><\/p>\n It’s imperative to have a consistent motivator that keeps you passionate and engaged with your goals, even when it’s a struggle and times are tough. Often, money for the sake of itself is not a strong enough goal for most people; it is the luxuries and comfort that money can buy that are the ultimate motivators. So, check in with your values and determine the most important thing you’d do if you could afford it, and make that your driving goal and source of purpose. It doesn’t matter what that thing is as long as it’s true to your values and makes you passionate about achieving them.<\/span><\/p>\n Working hard is admirable, especially since almost everyone does it every day, rain or sunshine, hell or high water. Unfortunately, just a quick look around tells anyone looking that hard work is <\/span>not<\/span><\/em> nearly enough to become wealthy in our current society since millions work hard every day and are still struggling. A key difference in the lives of those who become wealthy is understanding how to work smart instead of hard, freeing up valuable, finite time for self-improvement, education, investments, side hustles, business opportunities, and more. While a great deal of hard work is needed to become wealthy, it’s equally important to ensure that work is being done intelligently and efficiently.<\/span><\/p>\n We’ve all had that coworker who is always in the office but never gets anything done. That is the perfect example of working hard, at least in terms of physically always being in the office, but not working smart. You should always be looking for ways to automate repetitive tasks, reduce redundant or unnecessary work. Furthermore, to ensure you’re maximizing your work output so you can spend more time on other pursuits that are more likely to enrich you than your 9-5 job. It is an area where a mentor can be precious.<\/span><\/p>\n While this is a disappointing item, the single greatest predictor of amassing wealth in your life is being born into it. Many scoffed when Mitt Romney talked in a presidential debate about how anyone wanting to start a business should simply have their family loan them $10,000, but this is the reality of how wealthy people live. They have access to far more capital and can take much larger risks in the pursuit of wealth than regular people who have to take care of their families and pay a mortgage on a typical 9-5 job.<\/span><\/p>\n The United States has done a lot to popularize the idea of the rags to riches persona. However, research has found that most wealthy people <\/span>intentionally<\/span><\/em> underplay the wealth and privilege of their upbringing to enhance that mystique and make them seem more self-made than they were. Most wealthy people had at least upper-middle-class parents like doctors and lawyers, if not outright millionaires. While it is possible to become wealthy without a privileged upbringing, it is much more difficult, and the stakes for failure are far higher and more punishing and can leave people in lifelong debt.<\/span><\/p>\n While this may sound like a no-brainer, a lack of understanding of math is required at several different levels to become financially successful. Simple mathematical knowledge is an absolute must for setting financial goals and analyzing spending and income. While there are many apps and tools to help with budgeting and setting financial goals, you still need to understand and process the numbers in your head to understand your whole financial picture. An ability to keep track of and calculate the nitty-gritty day to day math of living is a must, even if you use an app to help.<\/span><\/p>\n It’s important to understand how economics and various mathematical principles like interest function in our lives. Someone who can’t conceptualize why high-interest rates matter for, say, organizing debts to pay off will be at a distinct advantage in the long run for accumulating wealth. Similarly, people who can’t see little opportunities in cash-back opportunities, savings, and more will also be at a disadvantage since every little bit of income will help achieve long-term financial success. These principles are rarely taught in public schools anymore, so there is no shame in needing professional help to gain financial literacy.<\/span><\/p>\n If you are afraid of failing, you will never be rich. All of the most successful people in the world have failed. Success stories often focus on how someone rose through humble beginnings and became a millionaire. The reality is that these people have all gone through terrible setbacks but learned to bounce back. Amazon was once considered a joke among many investment insiders, even featured as a penny stock punchline in <\/span>Futurama<\/span><\/em>. Now, of course, we all know of the vast success of the company. Sometimes it can take literal decades for a business or investment to pay off.<\/span><\/p>\n Successful people learn how to overcome failures. They pick themselves up and try again. That is the only difference between someone who makes it to the top of their game versus someone who stays in an average lifestyle. Remember that by playing it safe, you continue your everyday life. Only the ones who take risks make it to the top. However, don’t be too hard on yourself as wealthy people have a much easier time bouncing back from failures thanks to their many safety nets. Before engaging in any high-risk venture, make sure you at least have enough of a safety net saved up not to end up homeless or in otherwise dire straits.<\/p>\n <\/p>\n Nowadays, you hear a lot about having a “work-life balance.” Most self-made millionaires made their money by working more than 40 hours per week. You may have heard of a book called<\/span> <\/span>The 4 Hour Work Week<\/span><\/em><\/a>. While this has some great advice on delegating others to work for you, the actual 4-hour-work week lifestyle is usually achieved after working 60 to 100 hours per week for <\/span>years<\/span><\/em> before you can delegate tasks. It’s an unfortunate reality, but the reality it is and working the regular 40 hours no longer gives any guarantee of security or financial success. Many people at least have to have a side hustle like Uber or DoorDash to get ahead.<\/span><\/p>\n Remember that making a lot of money is rarely going to be easy or straightforward. It comes from hard work and persistence that must be maintained for many years or even decades. However, while that may sound daunting or impossible, remember that in the end, it will all be worth it once you have achieved your goals. Make sure never to lose sight of <\/span>why<\/span><\/em> you want to be successful and stay motivated. Do you want to retire early? Buy your parents a home? Keep your eyes fixed on the prize behind the success to remain genuinely motivated.<\/span><\/p>\n <\/p>\n In today’s world, there are plenty of people who become wealthy behind a computer screen. However, eventually, those people are going to have to speak in front of a crowd. We tend to remember the people who can couple their personality with the product. Most wealthy tech entrepreneurs have to hire coaches to help them with their public speaking. However, some are naturally dynamic and know how to work for a crowd. Regardless of your current comfort and skill level, public speaking is a skill that anyone can grow and develop with study, practice, and a sense of confidence.<\/p>\n Being good at public speaking does not come naturally to most people. They have to continually work on that skill if they want to excel at it. If you’re going to move up in the world, you may want to consider taking a public speaking class. You can also watch videos online, but the real skill comes from practicing in front of real people. There is also an organization called Toastmasters International, where successful people meet to practice their speaking skills. Consider reading the book<\/span> <\/span>Talk Like TED<\/span><\/em><\/a>, where there are tips from some of the most popular TED Talks.<\/span><\/p>\n <\/p>\n In the age of the Internet, we have a whole generation of people who rarely have to talk to people on the phone. For whatever reason, getting on a phone call gives some people much anxiety. They use text messages or emails instead. However, in most high-level positions, it becomes vital to have conversations over the phone. In fields like Human Resources, many discussions are easier to have over the phone to include nuance and avoid essential documentation required for written exchanges. Developing the ability to be clear and confident on the phone is a must for anyone who wants executive level work.<\/p>\n Before you get on the call, just take a deep breath and calm yourself. Remind yourself that you deserve to be on the phone interview or meeting. Truly listen to what the other person is saying so that you don’t cut them off. Also, practice smiling while you talk. Lastly, remember to say their name at least once, so they feel acknowledged. Forcing yourself to speak more slowly than you usually would also help, especially if you’re nervous and prone to babbling to fill the silence. Also, it’s always to say things like, “that’s a great question, may I have a moment to gather my thoughts?” to avoid awkward silences.<\/p>\n <\/p>\n Sometimes, your geographic location could hold you back from succeeding. Imagine living in the middle of farm country in Kansas. Whatever job opportunities you may have in your town may not be anywhere near what you find living in New York City. Maybe it’s just a matter of moving to the next town over. However, if you are not willing to make moves to get to where you need to go, you may never be rich. It can be a callous juggling act to balance out being close to well-paying jobs and the high costs of living, especially housing, associated with those areas.<\/p>\n Digital nomads can work anywhere in the world from their laptops, but very few are millionaires since they are often working on a freelance basis. They feel “rich” because they have freedoms that most others don’t. You need to weigh the pros and cons of what matters most to you in life. Is it money, or the ability to live near your friends and family? While work-from-home jobs are becoming more common, there can be drawbacks, especially for those who have difficulty staying on-task outside a traditionally structured office environment.<\/p>\n <\/p>\n Earlier, we mentioned the fact that people who become rich work more than 40 hours a week. However, it is not as simple as having multiple side-hustles. For example, you might have one full-time job that pays you $50,000 per year. Most part-time jobs are given to lower-level positions that do not pay very much. So let’s imagine you decide to work a second job at night, working 20 hours per week, and you bring in an additional $12,000 per year. That adds up to $62,000. By the time you get home, you would be way too exhausted to build any sort of wealth.<\/p>\n The only way people truly get rich is to be paid by results rather than time. Every single human being has the same 24 hours in a day. The rich ones just figure out a way to make money in a short amount of time. They don’t worry about getting paid by the hour. The result matters much more. Whether this is starting a business, becoming a paid freelancer or artist, or something else, make sure you are always valuing your time and products highly enough. One thing wealthy people <\/span>never<\/span><\/em> do is sell themselves or anything else short.<\/span><\/p>\n <\/p>\n It can be great to be skilled in many things because it helps you get ahead in life. Nevertheless, eventually, you may find that you’re spread too thin. Some business owners are forced to do multiple tasks on their own before they hire someone. For example, let’s imagine you open a pizza shop. You may have to do the cooking, the cash register, and all administration at the end of the night. That’s three jobs in one. However, if you keep doing this forever, you will be burned out. At some point, you would probably need to hand over the duties of cooking and running the register to someone else.<\/p>\n People who make a lot of money are the ones who are good at <\/span>one thing<\/span><\/em>. If we continue with the example of a pizza shop, think about the big chains like Pizza Hut and Dominos. Even though their pizza may not be the best you have ever tasted, the founders knew how to market their product very well. No matter what kind of business you run, you need to focus on cultivating just one talent. For more on this, we recommend reading<\/span> <\/span>The One Thing<\/span><\/em> by Gary Keller<\/span><\/a>. Sadly, the days of well-paid dilettantes are long gone.<\/span><\/p>\n <\/p>\n There are so many people out there who will talk about how they will become rich and yet never take action. Most successful people are too busy working towards their goals to find time for bragging. They probably won’t talk about what they are doing behind the scenes. The next time you find yourself bragging about how you will succeed, ask yourself why you are doing this. Most of the time, people feel a sense of satisfaction telling people they will be rich. Often, some of the best steps you can start taking towards financial success are boring, like paying off a credit card or snowballing student loan payments.<\/p>\n It is the same mindset as telling someone they are going on a diet. The praise or congratulations you get from someone is often enough to satisfy that urge to praise, and you go back to old habits immediately. Instead of seeking approval or praise, simply do the necessary things for you to get ahead in life. Then, once the task is done, feel free to talk about it once it’s complete. For example, instead of saying, “I will build a website,” just go make the thing. Once it’s done, you can say, “I built a website,” which feels so much more satisfying to do so.<\/p>\n <\/p>\n All of the most successful people in the world read multiple books per year. Most of these books are nonfiction, and they focus on self-improvement. Every year, Bill Gates comes out with a list of all of the books he read that year. Oprah Winfrey is also famous for her book club. People who read a lot are always looking to learn something new. They are willing to open up their mind to information that they have never known before, and it just might help them on their journey to success. Reading also provides a great deal of entertainment value for little or no money!<\/p>\n If you are open to reading more, but you’re not sure where to start, check out our list of<\/span> 40 Business Books Everyone Must Read to Be Successful.<\/span><\/a> Even if you are not a business owner, many of these books are great for self-improvement, no matter what your goal is in life. In college, you had to read books to get better at a particular subject, but the same goes for life in general. The more you read, the more you succeed. A library card for your local library is also one of the best investments you can make and are almost always free.<\/span><\/p>\n <\/p>\n Most people who are type-A personalities need to be on time for a meeting. They get somewhere early, and they may even wait until their time rolls around so that they can be there precisely when they are supposed to show up. For most people, this is a sign of respect. You show the other person you value their time, so you are making an effort to show up at the agreed-upon time. Nevertheless, then, some people are the polar opposite. They show up late and don’t seem to care if they keep the other person waiting. In many cases, these people may have been fired from their job over their chronic tardiness.<\/p>\n40. Not Having A Mentor<\/span><\/h2>\n
39. Being Out of Touch With Current Affairs<\/span><\/h2>\n
38. Feeling Pessimistic<\/span><\/h2>\n
37. Not Shooting For The Moon<\/span><\/h2>\n
36. Ignoring Their Health<\/span><\/h2>\n
35. Not Paying Themselves First<\/h2>\n
34. Having Money As The Only Goal<\/h2>\n
33. Working Harder, Not Smarter<\/h2>\n
32. Not Being Born Rich<\/span><\/h2>\n
31. Not Understanding Math<\/span><\/h2>\n
30. Being Terrified of Failure<\/strong><\/h2>\n
29. Only Working 40 Hours Per Week<\/strong><\/h2>\n
28. Public Speaking Makes You Nervous<\/strong><\/h2>\n
27. Avoiding Phone Calls<\/strong><\/h2>\n
26. Refusing To Move<\/strong><\/h2>\n
25. Working By the Hour<\/strong><\/h2>\n
24. A Jack of All Trades, Master Of None<\/strong><\/h2>\n
23. Having All Talk & No Action<\/strong><\/h2>\n
22. Never Reading<\/strong><\/h2>\n
21. Being Chronically Late<\/strong><\/h2>\n