The past two years have given us an opportunity like never before. In fact, despite the coronavirus pandemic, a study has shown that about 5 million individuals reached the millionaire milestone in 2020— the highest record in the past decades so far. This impressive blossoming of millionaires did not happen by accident.
According to Nathan Rothschild, one of the richest people in history, “This time to buy is when there is blood in the streets.” This is the motto he lives by since his fortune mostly came from taking advantage of every crisis he stumbles upon.
Rothschild isn’t alone, though. Many millionaires and billionaires think likewise. The famous Berkshire CEO Warren Buffett has stated something like that. “Be fearful when others are greedy, and be greedy when others are fearful.”
In times of crisis, the competition gets more effortless because many are already suffering. Some are scared to invest even though assets are sold at a discount. However, taking advantage of a troublesome situation is just one of the many ways you could take your finances to the next level.
Disclaimer: The information we are going to talk about isn’t an inch close to perfection, and there’s no guarantee that you will become a multi-millionaire by following this, but it worked out well for some people.
Most often than not, ordinary people tend to fail because they don’t have any idea how the capitalist system works. So, if you haven’t established a strong knowledge foundation about capitalism, you should probably begin reading books and articles now.
To be financially free, some sacrifices need to be made. You must learn how to let go of some things if you want to receive something better.
Here are the five things you must let go of in order to become a millionaire:
Trying to be perfect
You’re right. Having high standards for ourselves to push beyond our comfort zones is necessary to acquire anything we want. Such A+ desire surely isn’t a cynical trait. However, if your “high standards” reach the point of perfectionism, then it becomes an issue.
Trying to be perfect is one reason that prevents intelligent and talented people from realizing their full potential. Since most intelligent and talented people have this image that they want to portray, they tend to be afraid to do things beyond their control because they want everything to be “perfect.”
Although perfection is truly great, perfecting something isn’t an easy feat. With all the years you have spent here on earth, you must have already realized that life is mapped out in such a way that you try, fail, try, and fail once again.
Don’t aim for perfection right off the bat. Pursue the things you’re interested in even when you are not perfect at it. As you go along with your journey, you will eventually find yourself improving just a thin line away from perfection.
Low esteem
Self-esteem is the perception in your mind of what your worth is. Many people nowadays have a very low opinion of themselves, especially because social media leads us to think that some others live a perfect life. We tend to compare ourselves to others and get dishearted after finding out that we don’t measure up.
Or sometimes, because of the inferior sentiment that we have for ourselves, we tend to believe that we don’t deserve the good things that life has to offer. And so we need to live on average.
Although there is nothing wrong with living an average life as everyone else does, you need to ask yourself— how can I achieve great things if you think you don’t deserve them?
You maybe have had a rough past, failed countless times, or hurt others unknowingly. Regardless, you still deserve the things that you have deeply hidden in your heart. Trust yourself and believe that you are still worthy of them.
The people who have reached great milestones and achieved extraordinary things aren’t different from you. While some are really born with incredible skills and talents, others just also started with a sincere desire and perhaps confidence to pursue the screams of their heart.
There is no doubt that you need a tremendous stroke of luck to be on top of Forbe’s list of billionaires, but making a few million dollars is possible for you, especially in this internet age. It’s certainly achievable no matter where in the corner of the world you are.
Comparing yourself to others
We have encountered this point in the previous point but let me highlight it further: Do not compare yourself to others. This is a dangerous trap that will only lead to discontentment and unhappiness, bringing your own energy down. And worst? It can affect your capability in achieving financial freedom.
People who compare themselves to others tend to copy and try to look like the person they’re comparing themselves with.
For instance, you’ve seen a colleague buy a car. Comparison creeps in, and you thought that you’re both working hard, so why not give yourself such a token of appreciation for yourself as well, right?
Maybe you can afford to also get yourself a car, but it is not the best financial decision in your finances. If your reason for buying a car was driven by comparison to others, then you are making a big mistake.
Rather than buying things out of jealousy, you should try investing instead.
Always remember that you have a life of your own. The talents, skills, and circumstances are way different from others, so the financial path you have to take is totally unique.
Following other people’s footsteps will never ever make you number one. You aim to be a trailblazer. Pave your own path and find your own success in it.
Constantly complaining
If you haven’t heard yet, there are two types of people: reactive and proactive. Reactive types of people complain about everything, and proactive are those who recognize the problem but work to solve it instead.
Reactive people tend to react and complain that the government is corrupt and that every president they have elected gets polluted by big corporations. They hate that the government isn’t doing anything to make their lives great but aren’t acting on it. This type of victim mentality is going to take us nowhere.
On the other hand, proactive people would recognize that the system is busted, so they look for ways to achieve their financial goals for themselves. Putting it simply, despite every single problem that arises, proactive people would rather focus on the things that they can control rather than complain.
Fear of failure
Being afraid of failure is a part of human nature since no one wants to be perceived as a failure and feel shoddy compared to others. Failure is an essential part of human life.
If you fear failure, you will keep away from trying, avoiding potentially harmful situations. This causes self-doubt, which stalls progress and leads you against your own morals.
It is true that it’s kind of frustrating to feel but keep in mind that after all that failures, you will eventually succeed and forget about all those failures.
No matter what you are trying to accomplish in your life, don’t be afraid to fail at first. Go and try to land your first job, establish your own YouTube channel, or raise finances for your start-up. Anything can be possible if you set aside your fears.
