Updated: September 30, 2020
Everybody wants to retire rich. But wanting is different from actually doing. That’s why most people who want to be rich eventually retire with meager savings – because they don’t log in the time and energy to do what’s necessary to retire wealthy.
Below are 7 warning signs that you belong to the group of people who simply want to be rich, but will most probably end up poor.
1. Your life hasn’t changed much in the past five years
Work achievements aside, how different is your life now compared to five years ago? What was your daily routine back then and is it still the same today? Don’t drift through life.
2. Because you’re too busy working
Work will always be there, but the chance to pursue your passion and achieve your dreams won’t be. Stop procrastinating and start doing what’s important.
3. And you don’t have time to learn new things
People always ask me how I became knowledgeable in business and investing, considering that my academic and professional background is civil engineering.
My answer is by patient self-study through the years. Learning doesn’t happen overnight, you have to make it a habit.
4. You lack financial discipline
It takes conscious effort to change your bad money habits. It’s hard work and often requires doing the things you ought to do, whether you like it or not.
5. Because you live with a short-term perspective
You always look forward to holidays and long weekends, and even plan the things you’ll do during those days. But you never do the same detailed and careful planning for your retirement.
6. Or have no perspective at all
Everything you do today will have an impact on your future. The little decisions you make each day will greatly determine how your life will be in the years to come.
So always ask yourself, how do I want my life to be when I retire, and what can I do now to make that happen?
7. And you simply give up when things become difficult
Financial freedom is not impossible to achieve. If it were, then all the rich people I’ve met must have lied to me about it, but I know they didn’t.
But more importantly, achieving financial freedom is not easy. If it were, then it would not be a goal worth pursuing.