3 reasons you aren’t a millionaire yet



The mistakes you’re making; according to 
For a lot of us working day jobs, it’s a common occurrence to look at your average Joe CEO millionaire and go ‘what are they doing that I’m not?’ It might seem like some just ‘have what it takes’ while others wish for that unique star quality as they shuffle through life and their daily grind. But the truth is that every millionaire that’s on that list of #Goals started somewhere–and often, to quote the controversial Drake, “from the bottom, now they’re here”. So what exactly separates those big-buck one-percenters who did it all by themselves from us? According to the financial media website Investopedia, there are actually three things that do. The portal believes that anyone who wants to be a millionaire must especially avoid these three things because these reasons are exactly why people don’t manage to grow their money, hold on to it and become rich (this list doesn’t include not saving; though that, of course, presents its own problems).

1. Believing you have nothing left to learn


If you look at the billionaires you’ve probably held up as role models–Bezos, Gates, Buffett, etc–then you’ll also know how much each of them prizes reading because it opens up their point of view and teaches them new things. If you believe you are the brightest star in the sky, you will not go anywhere; because you will believe there is anywhere left for you to go. This keeps you from adapting to change, innovating and trying new things–which in turn prevents both professional and individual growth. 

2. Investing without the right research

Bill Gates is a huge advocate for investment; it’s what he attributes as the reason for being able to grow his wealth even though he retired a while ago. But investment is a double-edged sword, one that can clean you out as much as it can be the cause of a giant cash windfall. That’s why thinking a hundred times before you throw your hard-earned money into anything is absolutely crucial. Research is everything–the more you know, the more informed your decision can be. Don’t jump at an idea without doing the legwork, getting all the information you possibly can, and seeking expert advice. Risks are unavoidable; but they must be calculated because one rash decision can end in you losing everything. 

3. Giving up too quickly

Let’s put this simply; Rome wasn’t built in a day, and neither was Amazon. Patience is pivotal; it can be the deciding factor between whether or not you have what it takes to be a power player. Acknowledge that developing a great idea–and a great business plan to back it–will take time and effort, and treating every road black like the end of the road will only mean that it eventually becomes just that; the end of your possibly fantastic idea. Allowing yourself time in a smart way is key versus trying to get everything done ‘yesterday’. Bill Gates started Windows out of his garage, and Jezz Bezos was constantly criticised for changing Amazon’s model, but they didn’t throw in the towel because they knew they had a strong idea. Have that belief, and be persistent if your idea is truly viable, well-researched and capable of becoming a reality if you stay with it long enough.

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