Why the 1% Have Money and You Don’t
Everybody loves talking about the 1% – a bunch of extremely wealthy people who seem to have all the money in the world – quite literally. All sorts of terrible things have been written about them. But the truth is that the vast majority of them haven’t done anything wrong. The only crime they’ve committed is thinking differently from everyone else.
If you ask the 1% how they managed to get to where they are today, they’ll tell you that they did it through a combination of luck and dedication to the cause. But interestingly, they’ll also tell you that the average person can replicate what they did. It’s not that complicated.
So why is it that the average person never accumulates massive amounts of wealth? Let’s take a look.
You’re Not Consistent
If there’s one thing that marks the 1% out above the rest of the population, it’s consistency. These folks are utterly dedicated to the cause, often rising early every morning to get on with their work. They never chop and change their plans. Instead, they pick a direction and follow it through, come hell or high water.
This level of focus allows them to make small improvements in the short term, and massive ones in the long-run. You often find that these folks have a superhuman ability to exponentially improve their lives. Little things at the start transform into enormous events in the end.
You’re Not Managing Your Own Wealth
Stop handing over your money to classical wealth managers. They eat into your profits and prevent your capital from growing. Instead, do what the 1% do and hand over your money to people with “skin in the game.”
Some platforms, such as DiversyFund, allow you to do this automatically with real estate. You can read DiversyFund reviews to learn more about the concept.
When you take responsibility for managing your wealth, things can change for you rapidly. Your returns increase and you can finally build your wealth how you imagined. You no longer have to yield to the advice of wealth planners.
You Don’t Think Big
The 1% also have a fundamentally different approach to their financial lives. They think big, and they’re not afraid to pursue massive goals.
Think about how the average person would respond to setting up a rocket company. They wouldn’t know where to start. And yet Elon Musk has somehow found a way to make it happen. From the outside, it seems miraculous.
Thinking big is part and parcel of being in the 1%. It’s about having the thoughts that are likely to get you places in your life. We often put self-imposed limits on what we can achieve. But usually, we can go far beyond what we think we’re capable of doing.
You Don’t Think Long-Term
Rome wasn’t built in a day. And neither was any worthwhile project. Entrepreneurs often spend a decade or more in the trenches before they begin benefiting from rewards.
Get out of the habit of expecting immediate success. Instead, build a broad foundation and enjoy the process.