5 Things stopping you from becoming wealthy

You might wish you were rich, but if you don’t plan for the future, you will never be rich. Without a set plan, you won’t save money, and you will always have excuses (like telling yourself you can save when you’re older or that you can save more when you make more).

It is true that a financial planner can help you set goals and stick to them.

However, if you really want to start saving money now, you can also set your own goals and make your own savings plans. Start by looking carefully at your current budget. Determine with inflation how much you are going to make over your lifetime and include potential financial difficulties, as well (loss of a job, loss of a loved one, stock issues, and so on). Determine how much you need to save each month, and each year, in order to reach your financial goals.

Once you have set goals, one of the hardest issues you will face is actually sticking to them. Having a financial planner can help keep you accountable, but you can also talk to a trustworthy friend or your significant other. As you budget, you will also find that giving up certain items that you don’t need might help you become rich faster. But then, there are some factors that can trash these ideas and efforts if you ignore them. Here they are:

1.  Fear

As Kiyosaki (the author of Rich Dad, Poor Dad) says, “The primary difference between a rich person and a poor person is how they manage fear.” Those with the Poor Dad mentality cling to their money in the hopes of not losing it. They don’t realize this mindset is exactly what causes them to lose it (to expenses and liabilities).

To play the game, you’ve got to take some risks. Understand that even if you do fail, this doesn’t define you. As John D. Rockefeller said, “I always tried to turn every disaster into an opportunity.” This is the mindset of the wealthy. Even when they do suffer losses, they ask themselves, “How should I respond to this failure? How can I let it inspire me? What can I do to move past it?”

  2.  Cynicism

Cynics assume the worst in themselves and others. They hold the mentality that people are intrinsically self-interested and don’t act with pure motives.

Hold the reason you want to become wealthy near your heart: It is your truth. This will protect you from the internal noise (negative self-talk, “what ifs,” and limiting beliefs). It’ll also keep you from caring what other people have to say about you as you grow wealthier.

  3.  Laziness

Busy people bog themselves down with tasks and work to avoid something they don’t want to face in life. If there’s something you’re avoiding right now, it’s time to get a little greedy. It’s the cure for laziness. Ask yourself, “What’s in it for me?” Realizing this will benefit you in the future, as it is a source of motivation.

  4.  Bad Habits

The easiest way to tell if a person has a Rich Dad or a Poor Dad mindset is to look at their habits. Good money habits include paying yourself first and paying your bills last. Kiyosaki’s Rich Dad told him, “I still pay myself first. Even if I’m short of money . . . Who do you think will complain louder if I don’t pay them—me, or my creditors? . . . That pressure made me work harder, forced me to think, and all in all, made me smarter and more active when it comes to money. If I had paid myself last, I would have felt no pressure, but I’d be broke.’”

  5.  Arrogance

Finally, the last thing a person must overcome to have a Rich Dad mentality is arrogance, which is ego and ignorance combined. Arrogant people’s inflated sense of self causes them to stop learning and growing because they’re lying to themselves about having everything all figured out. However, this is often a telltale sign a person feels insecure about their lack of knowledge.

If you struggle with arrogance, it’s time to get real with yourself. Why are you acting this way? What do you need to educate yourself more on?

The Real Reason You Want to Become Wealthy

There’s really one reason that fuels a person’s desire to become wealthy: love.

It might sound cheesy, but it’s true. Love is what will get you over the hurdles and sacrifices you’ll have to make, especially starting out. The love for what you do is why you might find yourself eating almond butter and flaxseed crackers for three months as you jumpstart a new entrepreneurial venture. Love for your family is what causes you to get up at 5:30 a.m. every day to study the principles of accounting. Loving your community and living a life of service makes the long days and nights all worth it. 

Truthfully, love for other people is the number one driver of success. 

Tap into who and what you love, and you’ll quickly find yourself adopting a wealthy mindset.