Did you know that just 1 percent of the world’s population owns more wealth than the rest 99 percent! Astonishing isn’t it?
Well, just goes on to show that there is a huge gap between the financially rich and poor and that’s increasing day by day! So basically the 99% is always looking for ways to becoming rich and to be honest, all of us are always interested to know how the rich actually make their money…in simple words…How to become rich?
Some consider it a matter of sheer luck while others consider sheer guts of taking risks as the primary way to become rich. Most of the beliefs regarding making money however are mere myths than facts! Let’s look at the most common ones…
MYTH 1: Save More to Become Rich
From whichever financial background we may come from, our age old thinking has always been that saving money consistently for a long time can make you rich. Despite saving money in the bank you prefer, you have to pay the taxes. But when you take a credit or take loans for building a house or asset or for any other investment, you don’t have to pay taxes for that. It is due to this reason that financial advisers across the world insist on making investments in stocks and mutual bonds you may end up gaining more money and the tax rates would also be lower.
MYTH 2: You Need Good Luck to Be Rich
This is one of the most popular myths related to rich people. The richest people are categorized on this perspective that it is their luck that made their journey to the top the most comfortable. But when you look closely at the stories of most of the rich men it will be surprising to find that luck has fewer roles to play in it.
Amancio Ortega is the second richest man in the world (according to Forbes.com) with a current net worth of $77.7 Billion. His father was a railway worker. At the age of 14, in A Coruna he learned the art of apparel making from a local shirt maker. In 1972, he got together some local women and formed a company, Confecciones Goa that produced quilted bathrobes. Within a few years, Zara, the world renowned brand was made. It was his sheer attitude to scale up and his entrepreneurship skills that took him to this scale.
MYTH 3: You Need More Money to Be Rich
Well, it’s not more money that makes you rich but it is the worth of your possessions that makes you rich. The richest people in the world do not consider money as a possession they consider it as an idea. An idea, that needs to be worked upon. It is due to this reason that the richest people invest a lot of money on their financial advisers and analysts. They are the people who constantly make investments in different assets, projects, stocks and mutual funds so that the net worth of the person’s possessions increases with time.
One of the most common intriguing features of the richest people in the world is not just the worth of their money. With money comes power which helps one to connect across the globe. Being rich is always an oscillation between fear and desire as well because both less money and more money is a difficult situation to sustain. It is based on these conflicting grounds, that the myths related to becoming rich rises.