10 Reasons Why People Don’t Want To Be Rich
Keywords: get rich, financial planning
You would think everyone would want to be rich, if they could be. After talking to quite a lot of people, I’ve found that there are a significant number who do not want to be rich. Why?
Here are my ten reasons why I think people are not interested in being rich.
1. They are contented. This is probably the best reason to not want to be rich. They are happy where they are. They have enough for their needs and feel that they are living fulfilling lives. For these people, there truely is more to life than money. There was this story about how a very rich man retired to a village and watched a poor fisherman catching his meal for the day. He advised him to get a net, invest in a bigger boat, hire some people to help him to catch more fish, so that he could export the fish to people around the world, make lots of money, and be like him. Why would I want to do that ? The poor fisherman asked. Then when you are rich, you can retire to a little village and do nothing but fish all day, came the reply.
2. They have a higher calling beyond the need to feel secure with money. There are those who are perfectly prepared to give up riches in order to accomplish a higher purpose.
3. They actually like their jobs and find that it gives them meaning in life. I once came across an advertisement for a get-rich product that warned that this product was not for those who liked travelling to work and working long hours when they could be permanently on holiday. I assumed that obviously people would then select to buy the product ! But then I have found that many people actually like their jobs and have no idea what to do with themselves if they had so much money they were permanently on vacation !
4. They are simply too busy either with their jobs or family to have time to think about how to get rich. They have enough on their plates just trying to find enough hours in a day to make ends meet and have no interest in taking away anymore of their meagre rest time.
5. They are too lazy to take action. Most would rather they suddenly won the lottery tomorrow and expect it to solve their financial problems instead of taking the time and effort to learn more about how to manage their money wisely, so that they can be financially free.
6. They are too cynical to believe that everyone can become rich, if they learnt how. They think the stock market will crash tomorrow if they buy today. They figure maybe an earthquake would flatten the investment property they just bought. They think businessmen are crooks. The list just goes on and on.
7. They are afraid of losing. They are so paralysed with the fear of taking any potential risk, even though it is calculated, that they would not even consider parting with their money to allow it to work harder for them.
8. They are too greedy. They get into the action when it is too late. They see how others have made a lot of money and greed sets in as they jump in. They always want that little bit more and never learn when to cut losses or take profits.
9. They are simply ignorant. They have never been taught that anyone has the potential to be rich, that there are ways many ways (legal, if I may add) of getting rich. They just need to be educated.
10. They are overly dependent. They would much rather their spouses, company or government takes over the job of their financial planning and look after them for the rest of their lives.
These are the ten reasons I have come across !
Karen Cheong believes we all have it in us to be rich - really ridiculously wealthy. We just need to learn to unleash the potential.
Find out what the rich know that the poor do not. Visit www.whymoneymatters.blogspot.com.
Previous Articles Highlighter:
Student Loan Consolidation Information - How Credit History Affects Student Loans (1)
Limiting the number and maximum balance amounts on credit cards will additionally assist, excessive credit inquiries suggest to lenders that someone is having difficulty meeting existing debt loads, that is a signal that re-payment of further loans may be harder, that increases the lenders default rates on loans that are not re-paid, financial institutions will try very hard to keep that default rate as low as possible, to do that they sometimes deny credit to borderline applications.
Choosing Your Malibu, CA Real Estate Appraiser (2)
If this is the case, the buyer normally has to either drop the deal or try to negotiate with the seller to get a price that meets the appraisal. For those very reasons, a real estate appraiser is very important.
Student Loan Consolidation Information - What Are Co-Signer And No Co-Signer Loans (3)
One popular co-signer plan shows a 4% plan paying $5,489.00 in interest over the period of the loan, rising to $10,647.00 at 6% a 2% difference doesn't sound like a lot, however given contemporary borrowing patterns and compounding such a scenario is not unrealistic, one more instance that isn't uncommon these days is for students and parents to borrow as much as $100,000.00 to help finance an undergraduate education, even if interest is paid right away (therefore it does not collect as long as the student is in school, adding to the total amount to be re-paid), interest at 6.8% is nearly $567.00 per month and the annual interest total is approximately $6,600.00.
Student Loan Consolidation Rates - It Pays To Shop Around (4)
There are lots of options available out there. Happy researching! (c) 2007 Best Student Loan Guide. Products, services and step-by-step guidance to help you make the best decisions you can.
Foreclosure Epidemic Likely Means Additional Tax Liability (5)
Joe may not even know of his additional tax liability until he receives an envelope in the mail from the lender containing a 1099 form reporting the debt relief income to the IRS.
Finding The Right Student Loan (6)
To be eligible for a Stafford Student Loan, you must be attending school on at least, a half-time basis. Get All the Info The trick is to get as much information on as many Student Loan Programs as you can.
How To Sell Your Home If You Are Faced With A Foreclosure (7)
Usually this means just one thing: You'll have to settle for less money in exchange for a faster turnover. So if it's possible to get into a financial situation that will allow you to sell the house at your own pace, then you should definitely do so.
The Right Penny Stock Can Make You Money (8)
Companies with this kind of share count are likely having problems moving forward, so they have issued more and more shares to raise money just to stay alive. You want to look for companies that have approximately 5 to 100 million shares in their float.
How To Sell And Rent Back Your Home (9)
Here is some information about selling and renting back. The concept of selling and renting back is this: You have paid off a significant amount of money on your house, but you are facing some sort of impending event that will cause you to be unable to make more payments.
Choosing The Right Insurance For Your New Malibu Home (10)
Home owners insurance is one of the ways that you can keep cover with your investments and out of the damage. Visit www.moveinmalibu.com for information about Malibu real estate, and related useful resources about the Malibu area.
Interested In A Home In Malibu? (11)
The investment that you decide to make can be more than your home. It can also be something that will bring you back profit for the investment. If you are interested in finding a space that is much more than cozy, than knowing the different types of real estate to invest in is the place to begin.
Homeowners Insurance Guide (12)
It covers restaurant bills, hotel bills and additional living expenses incurred while the home is being repaired. Generally, companies provide coverage for about 20% of the insurance on the structure of the house.
Britons 'Would Rather Consult A Hairdresser' On Money Woes (13)
Keywords: debt, consolidation, secured, personal, loans New research has suggested that the famous British reserve is still firmly in place across the UK, with many people holding back from discussing money worries and the possibility of debt consolidation loans with professionals when they find themselves in financial difficulty.
'Worrying' Number Of Young Brits In Debt (14)
Sadly, we believe the men are being rather over-optimistic." Earlier this month Susan Hannums, savings manager for AWD Chase de Vere, claimed that consumers need to take a greater interest in their financial situation so as to avoid incurring unexpected debt difficulties.
Borrowers 'Unrealistic' About Paying Back Loans (15)
Earlier this year, Stephen Rose, director of the Debt Advice Bureau, claimed that taking out debt consolidation loans could well be the best way for consumers to rein in their spending.
Homeowner's Insurance: How To Save Some Cash (16)
With that being said, what exactly is covered by homeowners insurance? Homeowners insurance covers the costs of replacing your home and the items within in case they get damaged.
Trading Commodities - Reading Prices (17)
Each futures contracts deals with 100 troy ounces, which makes the minimum tick per contract $10. That's a significantly greater amount than the average stock investor is used to, because prices they are typically move from $.10 to $.25 per share there.
Commoditiy Trading - Financial Indexes (18)
By using this type of "spread" strategy, traders can take advantage of price differentials and low commissions even as they exert control over the liquidation date. The trade is executed when traders predict that prices will soon move in the preferred direction, meaning just beyond the expiration date.
Trading Commodities - Margins (19)
Visit www.123onlinetrading.com to find more great information about commodity trading. Besides a large selection of free educational articles you can also find powerful books about online trading in general.
Myths About Real Estate Agents (20)
While it might seem like they spend a strangely disproportionate chunk of time speaking with you, they are actually trying to be as time-conscious as possible, so that you can move more quickly into your home and they can move more quickly to helping their next client.
Newer Articles Highlighter:
Enlightening Students About Credit (1)
There may be some very low rates of interest. After all, students do not have a terribly stable income. To land them with an unnecessarily expensive credit card offer would result in failure for that card.
Insurance For The Four Legged Folks (2)
Thus, it makes sense to look around for the best deals. Getting a number of different life insurance quotes could be a good way to begin. Of course, life insurance is only the very basic when it comes to insurance policies.
Getting Your House Ready For The Appraiser (3)
If you like, you could go in for some home improvements before the appraisal becomes due. A paint job might be a good idea, as might getting a new table made.
Borrowing For A Business Venture (4)
Sometimes, if money is required almost at once, the fastest way to meet that need would be to borrow the amount from the owner himself. Thus, the business person will advance the required amount from his own savings.
Secrets To Avoid A Home Foreclosure (5)
Be wary of companies that offer to pay off your mortgage to give you a better rate and some cash in your pocket. Most often they are predatory lenders that will raise the rate to an extreme amount.
Of Jargon And Finance Tips (6)
Most online personal finance organizations offer financial help to help out loan seekers who have still not made sense of finance jargon. There will be pages and pages that are dedicated to defining and explaining the various terms that loan seekers will come across while looking for that ideal loan deal.
British Consumers 'Uninformed' About Personal Finance (7)
Abbey said that following the examinations, 25 per cent of those that undertook the tests scored the equivalent of an A, whereas 30 per cent scored an A. When the 21 per cent that achieved a B level are added, some three-quarters are covered in the top three grades, but 24 per cent are not.
Financial Freedom Not Reached Until Mid 50's (8)
However, once surpassing the 55-year barrier, just under a quarter (23 per cent) do not work nine to five. Commenting on the study, Jason Robinson, director of savings operations for Birmingham Midshires, said: "After years of bringing up children and working hard, those in their 50s can look forward to a more relaxing way of life, with fewer financial strains.
Car Buyers 'Need To Choose Suitable Finance Product' (9)
In opting for expensive deals it was purported that the average motorist could be losing out on 985 pounds each via higher than necessary interest repayments - accounting for a grand total of over 175 million pounds.
Parents 'Increasingly Contributing Towards Children's Property Costs' (10)
However with a recent Stroud & Swindon study suggesting that the typical first-time buyer home could reach the 1 million pound mark by 2024, consumers could well find themselves developing financial difficulties as they get behind with mortgage repayments, with bad credit loans a possible option to alleviate such struggles.
You Can Get Loans For Wanderlust (11)
These days, with the tourism industry gaining in steam, holiday loans have become quite popular. As people become infused with wanderlust, loan providers have also begun to get excited about the business side.
Consumers 'Worried' At Thought Of Base Rate Rises (12)
However, despite these concerns, only just over a quarter (26 per cent) of those surveyed claimed to have products that guard them against interest rate changes. The company reported that opting for an offset mortgage can help borrowers "shield" themselves from the "negative impact" of base rate hikes by the MPC.
Mortgage Refinance-The Easy Way To Get The Adjustable Rate Monkey Off Your Back (13)
Mortgage refinance, or home mortgage refinance, works on the fundamental attitude of getting a second loan on the property that substitutes any previous loan on the home. In addition to a lower interest rate, refinancing your house can also be a great way to cut the term of your loan repayment, even while you still lower your mortgage payment.
Student Loan Consolidation Information - What Is The William D Ford Direct Loan Plan (14)
The Direct loan program began about 15 years ago and in reliable American fashion was used to remove the middle man, instead of having the banks, credit unions and other private businesses lend money to students and their parents, the Federal government loans the dollars directly.
Why Is Credit Important For Your Federal And Private Student Loans? (15)
Many students go through college with minimal payments and are often helped out a lot by parents. This can be a difficult situation for a student after a while because many get out of college and have to start being grown ups now with little experience.
Five Ways To Secure Online Financial Information (16)
Use extreme caution when downloading or clicking on any links you are not familiar with. Some links contain malicious software that can be downloaded without your knowledge. This software can then perform functions such as key monitor which will monitor all words typed and in some cases the sites you visit.
Retirement Tax Planning Tips (17)
Taking a partial lump sum distribution from a personally purchased annuity or a funded nonqualified plan after the annuity has started, rather than before. Carefully consider whether your rollover of retirement plan funds to an IRA should include your previous contributions to the plan.
College Student Credit Card Debt. Tips For Parents (18)
At this juncture of your life, you have different needs than you will later. A student credit card, while not ideal for the rest of your life, is often just the solution you've been looking for when you've newly entered the university life.
Student Loan Consolidation Information - What Is The FFELP - Federal Family Education Loan Program (19)
Over 90% of the funds are directed by the two types of Stafford loan, unsubsidized & subsidized, in the second circumstance the Federal government pays the interest on the loan accrued whilst the student is in school and for a further six months afterwards, unsubsidized loans requires the borrower to be responsible for any interest, if the interest is deferred as it most often until after the grace period, it is then added to the primary total.
What Is A Secured Loan? (20)
For secured credit cards, borrowers are almost always required to deposit a certain amount of cash into an account that the lender has access to. In general, but this will vary from lender to lender, the amount of cash that is deposited is the amount of credit that will be assigned to the secured credit card.