5 Reasons Why There Are Less Billionaires Than Millionaires In The World Today
Updated 08 December 2020
Introduction Many people in the society live paycheck to paycheck, this has been an issue in the society for many years and some people find it hard to come out of that lifestyle, but some people have figured out how they can break out of that standard of living to live the life that they have been dreaming to have, some dream to have flashy cars or houses one day in their lives, some of they millionaires work so hard to achieve that status, while some just inherited it, some say that the system is against them and that is why they cannot achieve that status, but the truth is that anyone can be a millionaire if they want to, nowadays people can easily become a millionaire if they focus on their passion and are willing to learn.
Many try to attain the millionaire status by starting a business, when they get in and find out that business is brutal they usually give up and go back to their 9 - 5 jobs, but those who are ready to sacrifice and chase their passion are they ones who usually get to that status, many people are scared of failure and that has hindered them from chasing their dreams or what they want to do, some try to achieve that status by going to school to study in an area that can make them more money when they come out and get employed, this way has made some people millions especially doctors, lawyers etc, but most at times they have a lot of student loans to pay and this can hinder them to achieve that status for many years, even though they are being paid a lot of money.
1. Millionaires Retire Too Early Most People dream to retire at a very young age so that they can be able to travel the world and have a lot of fun while they are young and they work very hard to make millions of dollars and they feel fulfilled, there is nothing bad retiring early, but this is one of the reasons why their are fewer billionaires, millionaires feel that they have a lot of money that can last a lifetime, so when they retire they can be able to sustain their lifestyle, this is true they can be able to live a good life but this hinders them from pushing to achieve the billionaire status.
2. I Have A lot Of Money Mindset Most millionaires, once they reach that status they feel that they have it all and that can be limiting because they way they see things could be different from a way a billionaire sees things, a millionaire could feel that they have a lot of money, but to a billionaire who want to make more billions, a million dollars is nothing and if a millionaire can understand that a million dollars is not a lot of money, that will humble the person to push for more.
3. Millionaires Wants To Protect What They Have Instead of trying new ventures, millionaires often times would want to protect what they have, they forget that when they were not millionaires that they were taking risks and by using money and that was what got them to where they are, they try to protect their investments and feel that since there is enough coming in, that there is no reason to keep pushing forward, and this can hinder them to achieve the billionaire status.
4. Millionaires Spending Habit On less Productive Things Just the way that there are thousands of millionaires who become one every year that is how a lot of them lose that status, thousands of millionaires lose that status and go bankrupt every year and this is because of bad financial handling and decisions, most of them go ahead to acquire what they cannot maintain, knowing fully well that their income cannot pay it off. Most millionaires owe a lot of money, this is sad, you can see them driving very expensive cars and living in expensive houses that they cannot pay for, this has made a lot of millionaires poor, but most of them know how to jump back to the million dollar status even if they lose all their money, because they have the right mindset and they have spent a lot of money to improve their skills and their knowledge on how to make money, this is why you see a broke millionaire today and tomorrow is back on track.
5. Lack Of Mentors Mentors are usually people you admire to be like, most millionaires at one point had someone that they admired to be like, this can inspire you and tells you that it is possible to be whatever you want to be in life, nevertheless, when some millionaires achieve what they dream of, they often times will stop looking for mentors who can help them to develop what they know, they feel that they are mentors themselves, nobody knows it all, you have to keep learning, in other to widen up what you know and that can help you to keep pushing for greater things.
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