They say that being born poor is your parents fault but dying poor is your fault.
This statement is generally true, even though there are some exceptions
For instance, your environment can have a significant impact on how you end up in life. That’s why we see people progressing when they move from the village to town or when they immigrate to other countries.
The research shows that most people who end up wealthy actually didn’t grow up with much.
This means that it is really up to us to determine how wealthy we become.
Many people are born into poverty, but end up accumulating lots of riches.
When we study the wealthy, we come to realize certain patterns in their lifestyles
Most wealthy people are actually business owners or high earning professionals in various fields.
They are hard-working men and women who have embraced frugal lifestyles throughout their lifetime.
They’ve mastered the habit of saving from early on, in their careers.
They regularly budget and review their personal finances.
They invest prudently in simple things, which they understand.
They generally live simple lifestyles unlike what is portrayed in the media.
Most of them own their homes outright.
The majority carry little to no debt.
They tend to be family oriented people.
They rarely gamble in get-rich schemes.
They are highly skilled in a particular trade.
They have an abundance mindset.
They believe they can thrive whatever the circumstances.
They believe they can bounce back from failure.
They are practical optimists who are willing to exploit the opportunities in front of them.
They are patient and hard-working.
They believe they’re in charge of their lives.
They don’t complain too much about things happening around them. Rather, they use these issues to find ways to solve problems and create solutions.
They embrace change and are continuously learning.
They believe they deserve a good life for themselves and their children.
They know that creating wealth is a worthwhile pursuit and they bear most of the responsibility to assure a good life for themselves and their families.
By adopting these beliefs and practices, the wealthy are able to pass on their wealth to their children and avoid dying poor.