Why Isn’t Everyone A Millionaire?
The secret to creating wealth and becoming a millionaire is not exactly a secret. The information is already out there. Go to any bookshop and you will see tons of books written about this subject, each with their own approach and secrets.
But if reading a book can turn you into a millionaire, the streets would be full of them.
Don’t get me wrong, I am not asking you not to read, but it is obvious that it’s just not enough.
Go to any hotel conference these days and you are bound to stumble across a money-making seminar of some sort, from FOREX trading to stock options to internet marketing. Yet, people, in general, are not getting richer. So what is the problem?
It would not be inaccurate to say that as much as 70% of the attendees that went to all these three-day seminars go home and do nothing. These events aren’t cheap, yet many are not applying what they learnt.
Why is that?
It isn’t the fault of these seminars. I don’t mean that you shouldn’t go to these events. I believe that most of these seminars teach you things that do work if you put it into action.
Take Action If You Want to be A Millionaire
So what is the reason for non-action?
The answer is obvious. It’s easy to acquire the knowledge but if knowledge is all you need, then all the professors in the world will be very rich. It is only knowledge that we put into action that determines the results.
Unfortunately, changing your financial status requires more than just a three-day seminar. Certainly, more than just book acquired knowledge. It simply requires action, educated action.
Without follow-through and support after attending these seminars, the information remains theoretical – a nice manual and lots of notes taken, but no ability or discipline to make a real transformation of beliefs, habits and results.
Most seminars lack of follow-ups such as regular coaching (telephone calls from thousands of miles away don’t count!) and support groups such as masterminding.
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Leave Your Comfort Zone
Why won’t people take action to change their financial habits and therefore their results?
The reason is quite obvious – most of us are still within our comfort zones. Human by nature possess a strong resistance to change.
We don’t get out of our comfort zone easily – our comfortable jobs that we really have no passion for, our work that some of us dread going to every day that isn’t giving us the results that we desire.
This resistance is so strong that it sometimes defies logical reasoning that we give ourselves reasons for not making the changes. We blame, we justify and we make excuses; no time, no money and know how.
Why won’t we get out of our comfort zones and overcome our resistance to change?
I believe it is because most of us have a fear of taking risks.
Conquer Your Fears of Taking Risks
If we have something going on in our life that is okay, not great but reasonably good, some would not want to rock that boat and take the risk.
In fact, some people are so risk-averse to a point of having no ability to take any risk of any kind. But if we think about it, we have only one life.
If we decide to make our life meaningful and fulfilling, why would anyone not do something that would make him or her happy? Why wouldn’t we take that risk? Of course, I am not asking you to take all kinds of risk.
Any risk that we take must be calculated and educated. Learn before we jump in. Don’t take more risk than you can afford to lose. But you must take the risk!
Every decision we make comes with some risk of some kind. Not taking any risk is like not making any decision at all. We end up procrastinating life’s decisions.
I like to say that to me, the biggest pain in life is the pain of regret – the regret of not making the decision to do something until it is too late. In my years of helping people to achieve their financial goals, this remains my biggest challenge.
As some might say, “No guts, no glory.” Think about this: “Are the rich a majority or minority?”
We all know the answer; the rich are a minority.
So the question is if that is the case why people follow the majority?
I learned a long time ago that successful people are people who would do things that ordinary people would not do.
So it is really that simple… you cannot really be truly rich and successful doing what everyone else is doing. You have to do what most ordinary people won’t do; take action and take some risk.
Not Luck Made You A Millionaire
The common responses to the question “why isn’t everyone a millionaire “is the “no opportunity” or simply “no Luck”. It is an easy excuse and it is a SAD excuse.
Denzel Washington, the actor echoed age-old wisdom when he said, “Luck is when an opportunity comes along and you are prepared for it. So if one is not prepared and when luck comes either you cannot keep it and maximise it or you simply can’t secure it.”
Indeed there are people who are “Lucky” and either secure some opportunities or simply a windfall of some kind.
But time and again, we hear of people who made the money fast through chance and will also lose the money equally fast. They cannot retain their “lucky” wealth.
So even if opportunity falls on you but if one is not “prepared” it will not be yours. I often say that opportunity is not seen with the eyes. It is seen with the mind.
Half a glass empty is also seen as half a glass full. We can all see the same thing but we will interpret it differently. Some of us will choose to see it full. Some will see it as half empty.
So if your mind is “not prepared”, it will always be seen as empty and barren of opportunity. It could be right in front of our eyes and yet we won’t see. Some choose to buy luck. Buy the numbers and sit there to wait for money to fall down from the sky. Good luck to you.
So why isn’t everyone a millionaire, well, most people don’t take action to get out of their comfort zone and they don’t take risks. And when the opportunity does come they are not prepared.
Start your MSI journey with Money Mastery community.
Having mentored and coached over 12,000 members from all walks of life for over 24 years, there is nothing more I enjoy than helping my students achieve financial independence through a personalised wealth creation system designed according to an individual’s passion and strengths.
I believe that everyone, regardless of income status, can achieve financial independence. Some of my past students, like Ahyat Ishak, a property investor and now a noted financial advocate, have gone on to achieve great things. Others, like Jerome Tan, have clawed their way from being bankrupt to a multimillionaire.
Here are a few of my students’ portfolios:
- Ahyat Ishak– Founder Of Pejuang Hartanah Community. Having started his property investment journey more than a decade ago, he became a property millionaire before the age of 30.
- Jerome Tan– Founder of PIP Holdings Pte Ltd, Singapore’s leading property investor and owner of over 100 properties, Jerome was famously known as the man who was a bankrupt before becoming a millionaire. He is also an author of ‘From Bankruptcy To Multi-Millions In 7 Years’.
- Dr Katalina– a Certified Aesthetic Doctor with the American Academy of Aesthetic Medicine, is also a famous model, actress, singer & brand ambassador.
It is a matter of doing it!
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KC See is the CEO of Quest MasteryAsia Group, a serial entrepreneur, best-selling author and international speaker. From professionals to CEOs, directors and business owners, KC has also worked with SMEs and multi-national corporations to improve their performance, productivity and increase their organisation's bottom line. At the same time, he has founded a programme called Money Mastery Mentorship since 1997. Having mentored and coached over 12,000 members from over 20 countries and successfully transformed their life through creating multiple sources of income and achieve their financial freedom. Over the years, he has written 6 books, one of which was translated into 5 languages including the “Quest for Excellence: An Asian Executive Guide to Personal Performance, Productivity and Profits”. His latest is “Entrepreneur’s Treasure Chest”.
KC was popular with his column in The Star, entitled “Quality through People”. He is a regular contributor to business magazines and has been interviewed on radio and televisions in the region including Channel News Asia, did Positive Business Minutes for Singapore’s News Radio 93.8FM and he wrote a monthly column for “SME and Entrepreneurship” magazine.