20 Biggest Factors That Decide Whether or Not You Will be Rich 2017-07-11T15:54:33+00:00

Becoming rich is a dream we all have. How we would spend our money if we were multi-millionaires and so on. We all have the capability to dream about it while only a certain percentage of us have the ability to actually become rich. Which factors decide who becomes rich and who doesn’t? Well to be honest there aren’t clear cut factors that decide that. However, through numerous studies there have been some notable similarities between the rich and we have them for you.

 

 

  1. You are attractive

We thought we would get this one out of the way first. Yes, as vain as it may seem, unattractive men and women tend to earn less than attractive ones. This is subjective but if you are generally considered attractive then, you have a good chance of getting paid more. This doesn’t ensure you will be rich but if you are smart about your earnings then you can be.

 

  1. You start young

The best of the best entrepreneurs from Warren Buffett to Mark Cuban started at a young age. Whether it is selling lemonade in your yard or mowing lawns. Starting at a young age invokes the entrepreneur in you early on. It gets your mind thinking about money and how you can possibly enhance it. It also allows you to test the waters of which field is most suitable for you by allowing you to pick a field that you enjoy and will allow you to make the most of yourself.

 

  1. You push yourself

Individuals that typically push themselves have more chances of becoming rich. Most people tend to settle and give in to what they have. Those that shoot big and really push themselves to achieve it have more chances to be rich.

 

  1. Your mindset is action-oriented

In order to be wealthy, it is important for an individual to seek an opportunity and grab it as soon as they have a chance. If you wait around and expect something to happen for you there are more chances of it not happening. You have to know as soon as an opportunity appears and grab it.

 

  1. Your focus in on earning

Savings are a great option for some. You can easily save money and live a comfortable life. However, to be rich and make a fortune you need to focus more on earning than saving. So therefore spend wisely and invest your money to earn more.

 

  1. You have a sense of urgency

Rich businessman do not wait around to launch their business. They know that there is no better time than now to go into their business and get it started. If you sit back and wait then you do more harm than good.

 

  1. You are open-minded

It is hard to become rich on an annual salary of $50,000-70,000. Investing is a great option that will make you rich and you keep an open mind about it. When you see an opportunity to invest rather than saving the money you opt to invest it. Not only that but you need to keep an open mind about ideas. Opportunities do not come knocking everyday, so you need to know when to seize one when it does. Keeping an open mind will help you do that.

 

  1. You were popular in school

Popularity has been linked to earnings. If you were more popular in school then you have more chances of earning more. Studies have been conducted that support this claim.

 

  1. You are a smart spender

Being rich doesn’t necessarily mean you go all out. A lot to do with becoming rich is you are smart about how you spend your wealth. A lot of rich people drive modest cars and live in modest homes. This allows them to accumulate more wealth rather than spend it. It allows them to save more on a daily basis which helps accumulate more wealth.

 

  1. You had a mentor

Who you associate yourself has a major impact on your life. If you are surrounded by good people you will likely turn out good. So if you want to be rich then you surround yourself with the rich. This will also help you select a mentor that can guide you with the ins and outs and steps to becoming and staying rich. They will also motivate you when you need it.

 

  1. You set goals for yourself

The rich set long-term goals for themselves. Then they work out a plan that will help them achieve their goals. Unless, you win the lottery, there is no shortcut to getting rich. You need to workout a method of getting rich and stick to it until you do.

 

  1. You look towards the future and not the past

Looking to the past will not help you become rich. It is always good to analyze your past mistake so you do not make them again. But constantly bringing them up or any failure will only hold you back. You will put in more energy remembering your mistakes and failures rather than looking to the future and moving on. So you need to look ahead rather than the past.

 

  1. You haven’t been divorced

Divorce automatically splits your wealth. Not only that but studies have shown that married couples have double the wealth while a divorced individual wealth reduces by 3/4 when compared to a single man or woman. This is a subjective factor but studies have backed it up but being subjective, it varies.

 

  1. You know your strengths and weaknesses

In order to become rich, you should know your strengths and know how to maximize it. Take a career in something you are strong in which will allow you to maximize yourself. This doesn’t mean you don’t work on your weaknesses. Great businessmen know their strengths and weaknesses. They surround themselves with individuals that enhance their weaknesses while focus on things that are their own strengths.

 

  1. You are positive

Keeping a positive mind can do wonders. Being rich means you don’t point fingers or blame others for mistakes. You don’t put yourself in too much negativity. This helps you take challenges head on rather than looking for a scapegoat to blame. Staying positive will allow you to take on any challenge while keeping your mind fresh to think of solutions.

 

  1. You are thick-skinned

Having a thick skin allows you not to worry about others or what they may think. It gives you a chance to do what you feel is right, following your gut. It also means you are mentally tough which is a great trait to have for entrepreneur.

 

  1. You are aware of current events

The richest of businessmen start their day by reading the newspaper. It allows them to stay upto date with what is happening around the world. This plays a key role in their investment decisions.

 

  1. You improve yourself constantly

Knowledge is forever evolving. Your degree will not determine whether or not you will be rich. So don’t think you know it all once you achieve it. After all, some of the biggest tech firms are headed by college dropouts. You need to keep learning and reading to improve yourself with new skills and information.

 

  1. You don’t smoke

Smoking tends to cut into a lot of an individual’s daily expense. Especially if they are a heavy smoker. Being rich means you spend wisely and there are no benefits to smoking so it not only causes harm to your health but also your wealth.

 

  1. You are born rich

Most children born into rich families end up staying rich. Studies show that 54% of children born into a rich family end up staying rich when they grow older.

 

So do you have what it takes to become rich?