Wednesday, April 30, 2008

So, why aren't you already rich?

Chances are good that you probably aren't rich yet. Do you want to know why? There is an answer. And I'll share it with you. But, first, let me offer you some related questions:

1. Why do people NOT drink 8 glasses of water a day when they know it's good for them?
2. Why do people eat at McDonald's when they know it's bad food?
3. Why do people smoke cigarettes even though they know it causes disease and death?
4. Why do people NOT set aside some of their money for investing even though they know all wealthy people do?

The answer: small errors in judgment compounded over time. Or, to put it another way, they know that the short-term payoff is going to be small so they're not motivated to do it.

But, try this on:

What if you knew the next cigarette you smoked would kill you instantly?
Answer: the tobacco industry would bankrupt overnight - snap - just like that.

See, no one plans on getting cancer and dying. They just figure that quitting smoking tomorrow will be just as good as doing it today. After all, what difference does a day make? Or another Big Mac? Or another day of not investing money?

You're smart. You see the point.

And it's the same way with choosing to be wealthy. One of the differences between wealthy people and broke people is that wealthy people choose to be wealthy today. We make decisions today based on the results we want to have.

It's an easy thing to do. But, as with most things, if it's easy to's easier not to do.

Coaching question: What decisions and actions can you make today that would reflect those of a wealthy person?

Tony Rush

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