5 real reasons you are not getting rich

And it is not really what you think!www.bhuvanashreeram.com

Don’t beat yourself about..

Spending without any disciplineNot saving enoughBorrowing badlyInvesting without a plan

No. These are not reasons why you are not getting rich. They are symptoms.

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The real reasons

Why you are not getting

as rich as you can, are..

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No. 1 – It never occurred to you

Most of us, average Indians have grown up in

middle class families. No one in the family was

really rich. No one told us we could get rich.

You probably related to being smart or intelligent

or athletic or kind, but being RICH is something

that doesn’t occur to you.

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No.2 - You wish you got rich

I wished I lost weight and got fit too. I wished and wished but nothing happened. Till I broke a sweat.

If you are saying, ‘someday I will get rich’ and are hoping and praying you will make a lot of money and get to keep them all, try a little change in the script now.

Say, “I have decided to get rich”. Now, you are giving yourself a fair chance.

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No. 3 - Maybe tomorrowYou are waiting for the bonus to come, or the business to settle down. Some important expenses come up all the time. It is not a good time in business, or it is a very good time in business. The markets are very volatile, the monsoons have failed.

There are a hundred legitimate reasons for saying “Maybe, next year”.

If you are given very good reasons to not do now what you know you should have done long time back, you just sabotaged your chances.

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• Price one – Delay gratification. You don’t have to spend every rupee you earn and max out the credit limit in every card. It is not compulsory.

• Price two – Get an adviser to help you set a target for how much wealth you can create, draw up a plan, make it easy for you to implement the plan and stick to it. This is money spent well. Yes, I do have some vested interest in saying this. I have enjoyed the benefits and you should too.

No. 4 - You don’t pay the price now

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If you don’t Pay the Price now, you pay later.

No.5 - You fail to see the long term

This interesting article on entrepreneurial lessons from Marwaris – the original business community focusses on a very specific aspect of entrepreneurship.

Apart from many other very interesting insights, it talks about how Marwaris see long term business success which grows over many generations and hence carefully groom successors within the families to carry forward the torch.

The idea behind this being, to do great things one lifetime isn't enough. How then will 3 years be enough to build multi-generational wealth? 30 years or more is what it takes.

Now, that doesn't mean you live poor to die rich.

You live well and manage money intelligently to leave behind a legacy.

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If you want to get rich you start with

Believing you can get rich. Yes, you.

Don’t just wish, decide to get rich

Do what needs to be done NOW

Be willing to pay the price

Have long term plans and short term goals

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