When I was younger, I used to work at a gas-station as a part time job while in high-school. The gas-station was connected to a Burger King restaurant, and there was an interesting character who worked for Burger King. He did the building maintenance for the property, and he wasn’t always the best with money. He commented once about a wealthy person in town who recently built a very nice new property, and that that person must really have known how to work the system. He wondered what secrets that the rich person knew about making the system work for them that he didn’t.
There are a lot of blue collar individuals and other people that are just generally bad with money that think that wealthy people have some secret knowledge about money that allows them to be wealthy and amass more riches. The maintenance guy thought that if he just knew how to work the system better and knew what the secrets were, he too could be rich.
is there some magic secret that allows those who know it to become wealthy? Is there some secret piece of information that relegates those who don’t know to mediocrity? There is a secret which one must know to be wealthy, but it isn’t some secret investment scheme or method of handling money that allows people to become wealthy. The secret of the rich is that there are no secrets of the rich. There are no shortcuts to becoming instantly wealthy without a lot of hard work and perseverance. That’s the only thing that works in the long run.
People who don’t know that there are no secrets often search for secrets to the rich. They try out multi-level-marketing schemes, they play the lottery, get suckered into bad investments, and keep searching for some secret way to get rich quick. These things just do not work, and while these people are looking for that one way to get rich, they are not saving money for the future, they are not paying off debts, they are just searching for that one thing they have to do to get rich.
Let’s face it, the tortoise beats the hair every single time. There are no magical formula’s, just common sense. Slow and steady always wins the race. Work hard, save money, live on less than you make, pay off debt, and invest for the future. That’s all there is to it, nothing more, nothing less.
Most people already know what they need to do to become wealthy, they just don’t. It’s a matter of actually doing what you already know. What you do with your money is much more important than what you know about money. You don’t need to have some fancy finance degree to do smart things with money. There are universal principles that we all know how to do, we just have to actually follow them, and we will become rich. There are no magic secrets, just common sense.