The 8 Myths About Creating Wealth

Posted by Eric Twitty on May 31, 2009

Welcome back!

by Nikola Grubisa

You have probably read or heard about various myths (these are the truths that are valid only for certain cases, but not in general) surrounding wealth and wealthy people, all of which hinder your quest for financial independence. Here are the most common and most destructive:

Myth No. 1: How much you earn depends on how hard you work

If this were true, then the physical, blue-collar workers, who have been working hard for years, would have been the wealthiest people on earth. Of course, this isn’t true. They form most of the workforce and the vast majority of the middle-class.

If you witnessed your parents coming home tired from a long day’s work in your youth, you probably learned that money wasn’t a sufficient reward for all that effort. People who work “just” for the money often have debts because they comfort themselves with whatever they can buy, beautiful things they lack when working.

Myth No. 2: Being paid for something you enjoy isn’t work and you shouldn’t ask for money for doing something that is enjoyable.

Check this with millionaires. They all have so much money that they don’t need to work anymore. Nevertheless, they work for other reasons, challenge, satisfaction, fullness of life, activity, fun … and all are connected to a love for their work. If there was no joy in doing a certain task, they would do something else that would make them much happier and that enables them to realize their dreams.

In fact, if you don’t enjoy your work, you will never become wealthy doing it! However, just because you enjoy your work doesn’t mean you shouldn’t get paid for it - in fact, that is the ultimate goal, to get paid for what you already enjoy so it never feels like you are at work!

Myth No. 3: You need to be in the right line of business to amass wealth

Do you think so? This must mean that all the people who are involved in the same business are millionaires. Of course, this isn’t true. In each business there are winners and losers; winners abound, even in businesses that consist of distasteful (to most) or “impossible” work like sweeping the streets, collecting the trash, working in a factory, pumping gas, selling newspapers, etc. On the other hand, there are just as many “losers” in businesses like selling real estate, management or being a stockbroker.

Myth No. 4: You need the right education to make a fortune

Are the most educated people really the wealthiest? Not at all! In this case, university professors would be the wealthiest people on earth. Ask them about their salaries, if you get the opportunity. The truth is vastly different - the wealthiest people are those who can convert their knowledge (or education) into money, in the best possible way. They can be highly educated people (like inventors, scientists, etc.) or almost ignorant.

Being formally uneducated does not equate to poor performance on the job or the inability to form a strong enough vision to carry a person to success - they can easily be experts without having a formal education.

Myth No. 5: It used to be easier

Statistics show an increase in the number of millionaires in the world every year. Talking about the “good old times” only offers comfort and a convenient excuse. If you look around, you’ll see there are people who behaved the same way in the “good old times” as they do now, yet their success has been recent. With technology and progress come new ideas, desires and needs and there are more business opportunities appearing daily to serve them.

Myth No. 6: I’m too old (young)

If you research the life stories of some of the most successful people, you’ll see that this isn’t true at all. Some became wealthy early in their lives (perhaps from the stock market), while others found their fortune in their old age. Ray Kroc, was more than fifty years old when he bought and made the first McDonald’s.

Myth No. 7: I don’t have enough money to start. You have to spend money to make money.

This is no different from any other excuse or “myth.” Like the others, it’s obvious this one isn’t true either. Many have made their fortunes starting from scratch, living in an apartment or working out of their garage and yet, they developed business empires that are worth billions of dollars today. The other elements of success are far more important than having seed money to start a business.

But yes, often money helps and it certainly doesn’t hurt. Like everything else discussed in other myths: it probably helps, but it is not always necessary.

Myth No. 8: I’ll begin when I know everything

Do you believe that you will know everything someday? Or even that you’ll know enough to ever be “really prepared now?” The more you learn, the more you see what you still need to learn. Success and obtaining wealth is a dynamic process. Even if you “could” come out of the gate knowing everything there is to know, some of those elements will change immediately and many will change rapidly. If you don’t decide now, nothing will happen. Live and learn.

Some millionaires have even allowed themselves to go bankrupt and then (even faster) recreated their wealth, sometimes even greater than before. Money itself isn’t the obstacle that is keeping you from being wealthy. If you’re really good in your business, don’t worry, because someone that will offer you money (a bank or business partner) will appear who will appreciate your talent knowing you are a very good investment opportunity. But you can’t sit around waiting for this - make it happen.

Exercise “taking action” as much as you can. Make your workplace better or more efficient. After all, even if someone else signs your paycheck, you really work for you. Even if you are an employee in a large corporation - it isn’t your corporation - but it is the only corporation through which you can prove what you are capable of right now.

All of us have what it takes to become a millionaire! Born winners, yet few of us know how to take advantage of and cultivate the possibilities hidden inside our own mind!

No one can ever grant you greater potential than your heart already holds…you need only discover its contents to find the one true path to your success in life. Born with the seeds to our success, the greatest decisions must always come from the inside! You will discover a new, deep well of fortune – yourself!

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Nikola Grubisa is a European Marketing and HRM Consultant and the co-author of a European bestseller “The Millionaire Mindset: How to Tap Real Wealth from Within”. If you are wondering how top marketers are marketing in Europe and at the same time want to discover the path to true wealth, please subscribe to his new free eZine “The Millionaire Weekly Memo”. Click here: http://www.TheMillionaireMind.net?a2-aa

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Tags: dreams, financial future, financial gain, financial independence, financial strategies, Investing, millionaires, success, wealth creation

Top 5 Ways to Increase Your Income Successfully

Posted by Eric Twitty on February 27, 2009

by Nikola Grubisa

Why You Are Not Wealthy Today?

There are two reasons that you don’t have as much money today as you desire:

You didn’t think about or plan for today before it arrived. Had you been more aware, then, that you would always need money and acted on that awareness in the past, you would be wealthier today than you are right now. Why?

Because, you would have intentionally saved money (perhaps even by making small sacrifices over the years) or invested money (even small amounts) and would therefore have more money today than you currently have. Make a list of your expenses for one month; you’ll quickly discover how many unnecessary things you buy and how much you could therefore set-aside for tomorrow.

If you want to free yourself from financial troubles, then start putting a portion of your money into a special account.

The work you have now isn’t bringing in enough money. There are many ways to increase, even maximize, the financial and nonmonetary rewards you earn from your job.

If you want to get more money out of your work, consider these 5 options.

1. Change jobs.

Money isn’t everything. Financial gain isn’t the only consideration when evaluating your current employment. Work that you enjoy doing will give you greater satisfaction, a feeling that no amount of money can provide.

You’ve probably heard the saying, “Do what you love and the money will follow.” Successful people concentrate on their work, the business, while unsuccessful people focus solely on the money.

Think it over.

2. Take on an extra job.

Perhaps your primary job gives you great satisfaction, but doesn’t yet provide a sufficient income. Taking a second job may be a better solution than changing jobs. Like everything else - it depends on the individual. You know best. You have to consider the consequences; working two jobs means there will be less time for everything else and added pressure. Ask yourself if the increase in income is worth the additional taxes you’ll pay, time you will spend, etc.

3. Invest more time in your present job.

Another possibility is to put in more time into your present job. Since you are probably paid according to time or efficiency, your income will probably rise with more time invested. This alternative is similar to the one above, that of increasing your workload, except it doesn’t require acclimating yourself to a new job and therefore you don’t need to concentrate on (and master) two different jobs. However, the work may be monotonous (where adding an extra job might allow combining mental and physical work, a possible advantage) or less rewarding, thus, it might not be profitable to bet everything, so to speak, on one horse.

4. Be more efficient in your present job.

One good variation is to be more efficient at your present job, which often results in higher earnings. Think about how you can save time and money. Search for bottlenecks and fix them. Consider the Paret Principle - 80 percent of your income comes from 20 percent of the work done. Concentrate more on effective tasks and less on auxiliary ones that don’t bring in money directly (like preparation, cleaning, etc.).

5. Learn to enjoy your present job.

You’ll move towards your goals faster if you organize your present job so you enjoy it more. Make a list of things that make you happy at work or bring you satisfaction from your job. The list might include: what you have, what you have always wanted, where your advantages are, how tasks can be done in a pleasant and fun way and so on.

You’ll find the job itself probably isn’t so bad, it’s just that you have been focusing more on the negative, rather than the positive, aspects. Be optimistic and start to take an interest in your field of expertise. Associate with people who do similar work and enjoy doing it - allow them to pass their enthusiasm on to you.

Maybe you won’t get a raise at first, but you’ll be much happier and not only at work. If I asked you, which you would prefer, money or happiness, what would you say? Well, there, you see…

I promise you that over time you will be noticed - if not by your superiors at work and business associates or partners, then by others. There are always plenty of jobs for a worker who is conscientious and an expert in his or her field.

Those who are the best in the business have doors opened everywhere, regardless of whether such a qualified person is needed right then or not.

Wise employers employ someone the moment they realize that a person can benefit their company. They don’t wait for an empty position where they would be forced into a feverish search for an appropriate candidate.

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