5 reasons people don't grow their asset column:
1. Fear--the main difference between a poor person and a rich person. Develop a Texan attitude: Be proud when you win and brag when you lose (at least you went for it). If you lose enough, you will win because winning usually follows losing. Losing/Failing makes you stronger if you will allow it to. Use the failures to inspire you.
2. Cynicism--Everyone has doubts or "noise" in their lives either in their heads or from outside sources. How you handle those doubts or the noise is critical though because they can make you poor. "Unchecked doubt and fear creates a cynic." p. 154 Criticizing instead of analyzing is a thought pattern that keeps people poor. When investing, you can use stops to help minimize your losses if prices begin dropping.
3. Laziness--staying busy to avoid something you don't want to face. The cure for this type of laziness is a little greed. Don't use the words, "I can't afford it." instead use the words, "How can I afford it?"
4. Habits--the reflection of your life. Pay yourself first.
5. Arrogance--ego + ignorance. What you know makes you money, what you don't know makes you lose money. If you know you are ignorant in an area, educate yourself.
No comments:
Post a Comment