The Most Common Wealth Building Myths

The Most Common Wealth Building Myths

There are some common myths that hold work at home businesses and investors from achieving success. These myths can have a powerful psychological impact on small business owners, stopping them from building wealth, and preventing them from reaching their full potential.

Money Breeds Money

This may have been true pre-discovery period, but it is not true in the Internet age. The myth that you need to be born into money, or attend an Ivy League school, or you’ll never know how to make real money is a difficult roadblock to overcome.

Money is Made on the Backs of The Poor

If you are afraid of going for the brass ring because you fear ruining someone else’s life, then relax. Your playbook can be moral, ethical, and built on old fashion values, and it will lead you to untold wealth. The easiest way to become rich is to create value in other people’s lives.

Remember that success starts in the mind. You need to believe that you can succeed before you will succeed.

You Must Sacrifice Family to Build Wealth

The baby boomers believed this and introduced one of the highest divorce rates in recorded history. However, their children have learned the value of balance, and the truth behind wealth. The rich and famous do not work as hard as the factory workers who run the companies that built their wealth.

This generation has coined a new phrase, “Work harder or work smarter”.

There’s a difference between working hard and working smart. Successful people learn to work smart. They learn emulate successful people and use them as models so they can avoid mistakes other people make.

You can save a lot of time, money, effort as well as some major headaches by finding a mentor, or hiring a life/success coach.

Getting your business started and running require work but you can chose to have a successful business and a family.

Rich People Don’t Live Normal Lives

Most of today’s millionaires live in suburban towns and lead normal lives. The dream of living the rich and famous life has lost its luster. More people are learning that the fantasy of wealth was more attractive than the reality.

However, you can live the good life without giving up a normal life. There is no reason why you cannot take a vacation with your family at a local camp ground on the weekend, and then attend a conference in a $2,500 outfit and $700 shoes through the week.

Don’t let the fear of being rich stop you from achieving your dreams.

“Duplicate, don’t Innovate. Do what works! You don’t have to re-create the wheel. I appreciate the fact that you might want to create your own system, but you shouldn’t! Not until you have mastered a proven strategy. If you want to get creative after you have mastered what will feed you, then get creative.” Derron Cook

How A Millionaire Manages Money –

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