Incentives that Lead toward Wealth Versus Poverty

Many think that the line that separates wealth from poverty is a thick line, but in fact there is a very thin line in between both. You may think that money or assets are what separates the wealthy people from the poor ones, but in reality it is just the tip of the iceberg.

There are several things that serve as incentives in achieving wealth and avoiding poverty. Though these things are popular, not so many people realize their value and even underrate them. Many people want to get rich and wealthy, but only a few are willing to pay the price, take the step and do whatever it takes to achieve such feat. If you want to be wealthy, here are some things that you should consider.

1. Education. Knowledge is power, and in fact it is the greatest wealth that you can ever acquire. If you have the necessary knowledge, then rest assured you know how and what it takes to be wealthy. Many people overlook the importance of education either because they get too confident or simply too complacent with their current situations. Learn about investments, proper money and portfolio management and where to seek opportunities. In most cases, what separates financially secured and successful people from ordinary, average and poor ones is knowledge. Take away the millions or even billions away from huge businessmen and rest assured, they can still make it back in time.

2. Hard work. If you have the education or knowledge, you’ve won only 50 percent of the battle. There are still important things to consider in achieving financial security aside from mere knowledge and hard work is one of which. Hard work is one of the ingredients in achieving success. Without action, success would be impossible. Knowledge is useless without application either. Hence, you must develop a good sense of hard work. Hard work is all about habit and discipline. If you discipline yourself to become hard working, it will become a part of you and sooner or later, it won’t be much of a burden on your part to work or act on your plans or put your knowledge into actions. If you notice, most wealthy people are people who work hard. Despite their wealth, they still make it a point to work and strive hard.

3. Smart work. Before, hard work will suffice in achieving success but today, hard work and knowledge may not be enough to guarantee success. Competition now are very stiff and should you want to have the edge, you must be smart, creative, and imaginative enough to spot the things that can give you the edge. Knowledge, hard work and smart work will most likely do the trick these days. Have you ever noticed how creative companies come up with their marketing strategies in order to attract people? Chances are those kinds of ideas didn’t cross your mind. Developing good smarts will take time and lots of experience. Experience plays a vital role in making good decisions.

4. Inspiration and motivation. Knowledge is important, but how can you act effectively and tirelessly without motivation and inspiration? Inspiration comes in different forms such as idolizing a certain person or thing or simply drawing emotional and psychological strength from others, especially from your family. Motivation on the other hand is simply a driving force that will keep on pushing you forward. Both inspiration and motivation gives more meaning to what you do and what you want to achieve. Wealthy people looked up to somebody or had the end in their minds when they were still in the process of amassing a great amount of wealth and achieving success.

5. Failures. Have you experienced failing at some point in your life? Maybe failing an examination in school or losing a game during the regional school meet? Doesn’t it feel awkward and bad? However, failures are actually stepping stones to success. There is no such thing as permanent failure not unless you quit doing something or you quit trying your best. Most or if not all wealthy people faced enormous setbacks in their lives such as failed businesses, bankruptcies, losing more than half of their equities and portfolios, or even family problems. The difference between successful people and ordinary and average people and non-achievers is that successful people don’t quit or stop until they reach their goal. Others give in and let their temporary setbacks get the best of them and in the process, turn themselves into failures. Nobody is perfect, hence everybody is prone to make mistakes, but those who make it big refuse to let setbacks or mistakes win them over.

Most of these incentives that lead to wealth and avoid poverty aren’t easy and may need lots of physical effort, emotional stability, and psychological strength in order to achieve. However, though they may sound like a tough task to do, everything boils down to developing a good and right mindset and knowledge about money matters and wealth. The right, good and solid attitude assist with overcoming and weathering tough times.

Amassing a huge amount of wealth isn’t easy, and the path won’t be pleasant, but with a good amount of knowledge and strong will and discipline, it will be easy.