Why Are You Afraid Of Getting Rich?

by Banks

 Fear of Getting Rich

You may be telling yourself that you’re not afraid to be rich....but lets look at the facts, I bet your actions tell a different story.

In order to get rich you have to make smart financial choices and let your money work for you.  The first step, which thousands of people never do, is following through on the decision to actually start the process of getting rich. Why are people afraid to do this? I have no idea.  It might be combination of fear and a lack of financial education, but it’s keeping you from reaching financial independence.

I Don’t Like Risk

Many people are afraid to invest because they are afraid of the risk. Yes investing has risk, but the rewards easily outweigh the risks, and you can also set your level of risk to stay within your comfort zone. I think it is silly when people say they don’t want to take on the risk. Did you get married? Have you bought a car? Did you purchase a house? Guess what, these are all risks.  It makes no sense that you are willing to do those things but not put $3,000 into an investment account or low-cost mutual fund.

Why are you afraid to start the process of becoming rich? Getting married is an investment in a relationship that you hope will bring you long-term happiness and stability. You took a chance there, why not jump in on the financial side of things?

I’ll Jump In Next Time

The market has ups and downs that you can’t control. Stop hesitating to invest while you wait for the next market opportunity. Stop telling yourself that you will get in next time because next time never happens. Investing success is a long-term strategy to build wealth. Stop thinking of it as a risk or a chance.  Over time you earn and earn on your earnings. When you are not in the market you are earning.....nothing

Investing In Debt

It’s commonplace for people to invest in debt. The average person has thousands of dollars in consumer debt that compounds, and don’t get me started on credit card debt. So if you are comfortable in investing in products and services that don’t give you money, why would you pass on opportunities to invest in opportunities that give you money for years?

Related: Are You Using This One Simple Tool To Change Your Financial Behavior?

Think Long Term & Stop Putting It Off

I can’t reinforce this enough.  The market will fluctuate and investments will go down. But guess what?  They will also go up.  Throughout time there have been crashes and dips, and there will be more, but don’t freak out. Understand how the market works and know that over time, and the earlier you start the better, you will get rich.

Stop being afraid and stop missing your opportunities to invest and become rich. When you look at the facts and the data, it only makes sense.

Source: Healthy Wealthy Income