ss02016 signs youll never be rich] The Independent @BINDEPENDENT — es voices cuture titestyle Ql se 2 News > Business 9 signs you'll never be rich Are you content with a steady paycheck? Kathleen Elkins, Business Insider | Friday 15 April 2016| [21 comment e0e« hitputwwindeperdent.ca ukdrews/busines/9-signs-youll-ever-be-ich- 96986401 ml wrss02016 signs youll never be rich] The Independent @ INDEPENDE T ews. Voices Culture Lifestyle Contrary to popular belief, "everyone has the same opportunity to acquire wealth,” says self-made millionaire Steve Siebold. Is wealth in the cards for you? ‘To help you evaluate, we've rounded up nine red flags you might want to watch out for. While no one can predict the future, the following choices most likely won't accelerate your path to riches. You put too much emphasis on saving — and not enough on earning Saving is crucial to building wealth, but you don’t want to focus so much on saving that you start neglecting earning, which is what rich people focus on. "The masses are so focused on clipping coupo! sand living hitputwwindeperdent.ca ukdrews/busines/9-signs-youll-ever-be-ich- 96986401 ml 2n7ss02016 signs youll never be rich] The Independent INDEPENDENT © ews voices culture tifestyle Ql ee Q = running out of money and focus on how to make more," advises. Some experts say that "it's not about how much money you make, it's about how much you keep," but this shouldn't be an excuse to disregard earning completely. To keep money, you have to earn it in the first place. A common thread among millionaires is that they develop multiple streams of income and have smart savings habits. You haven't started investing , and the earlier you start, the better. “On average, millionaires invest 20% of their household income each year. Their wealth isn’t measured by the amount they make each year, but by how they've saved and invested over time," writes Ramit Sethi in his New York Times best seller, "I Will ‘Teach You to Be Rich.” The more you can set aside, the better, but even a little bit can go along way, thanks to compound interest. An easy way to dip your toe into the investing pool is to start saving for retirement using accounts where your money is invested, like a 401(k) or IRA. Car hitputwwindeperdent.ca ukdrews/busines/9-signs-youll-ever-be-ich- 96986401 ml anss02016 signs youll never be rich] The Independent @BINDEPENDENT =o voices cuture titswe Qo as 2 = Average people choose to get paid based on time — ona steady salary or hourly rate — while rich people choose to get paid based on results and are typically self-employed. "It’s not that there aren't world-class performers who punch a time clock for a paycheck, but for most this is the slowest path to prosperity, promoted as the safest,” Siebold says. "The great ones know self-employment is the fastest road to wealth.” While the world-class continue starting businesses and building fortunes, "the masses almost guarantee themselves a life of financial mediocrity by staying in a job with a modest salary and yearly pay raises,” Siebold explains. You buy things you can't afford If you live above your means, you won't get rich. Even if you start earning more or get a hefty raise, don't use that as justification to give yourself a lifestyle raise. [didn't buy my first luxury watch or car until my businesses and investments were producing multiple secure flows of income," writes self-made millionaire Grant Cardone at Entrepreneur. "I was still driving a Toyota Camry when I had become a millionaire. Be known for your work ethic, not the trinkets that you buy.” You're pursuing someone else's dreams — not your own hitputwwindeperdent.ca ukdrews/busines/9-signs-youll-ever-be-ich- 96986401 ml anss02016 signs youll never be rich] The Independent @BINDEPENDENT =o voices cuture titswe Qo as 2 = If you want to be successful, you have to love what you do — that means determining and pursuing your passion. Too many people make the mistake of chasing someone else's dream — such as their parents’ — explains Thomas C. Corley, who spent five years researching self-made millionaires. "When you pursue someone else's dreams or goals, you may eventually become unhappy with your chosen profession," he writes in "Change Your Habits, Change Your Life." "Your performance and compensation will reflect it. You will eke out a living, struggling financially. You simply won't have the passion that is necessary for success to happen." You rarely step outside of your comfort zone If you want to build wealth, be successful, or get ahead in life, you're going to have to get used to uncertainty or discomfort. Rich people, in particular, find comfort in uncertainty. hitputwwindeperdent.ca ukdrews/busines/9-signs-youll-ever-be-ich- 96986401 ml 87ss02016 signs youll never be rich] The Independent Q@VINDEPENDENT evs voices ture titesyte Qo thinkers learn early on that becoming a millionaire isn't easy and the need for comfort can be devastating. They learn to be comfortable while operating in a state of ongoing uncertainty.” You don't have goals for your money Money won't just appear — you have to work at it. If you want to eventually build wealth, you have to have a clear and specific goal in place before forming a financial plan to achieve that goal. Rich people choose to commit to attaining wealth. It takes focus, courage, knowledge, and a lot of effort — but it’s possible if you have precise goals and a clear vision, emphasizes self-made millionaire 'T. Harv Eker, "The number one reason most people don't get what they want is that they don’t know what they want. Rich people are totally clear that they want wealth.” You spend first and save what's left over hips indepandent.coxiklnewsbusinest9-signs-youll-never-be-rich- 26986401 him eiss02016 signs youll never be rich] The Independent Q@VINDEPENDENT evs voices ture titesyte Qo Automatic Millionaire.” "They pay the landlord, the credit card company, the telephone company, the government, and on and on.” Rather than spending and then saving whatever is leftover, save first, Set aside at least 10% of your gross income and make the process automatic, Bach emphasizes. That way, you'll never even see the money and you'll learn to live without it. You believe getting rich is out of your reach "The average person believes being rich is a privilege awarded only to lucky people," Siebold writes. "The truth is, in a capitalist country, you have every right to be rich if you're willing to create massive value for others.” Start asking yourself, "Why not me?" he encourages. Next, start thinking big. Rich people set their expectations high. Why not $1 million? Read more: + Barack Obama says Britain is a ‘free rider’ + These tweets nail the absurdity of many tech offices + 4 reasons why the Irish economy killed it in 2015 Read the original article on Business Insider UK. ws © 2015. Follow Business Insider UK on Twitter. @ More about: | Wealth PROMOTED STORIES ‘Sponsorad Links by Taboola [> Exposed! The most addicting Strategy Game of the year Sparta Free Online Game Renewable Plastics from Sugar Cane & Corn. Is This for Real? hitputwwindeperdent.ca ukdrews/busines/9-signs-youll-ever-be-ich- 96986401 ml m7