The world’s wealth is not evenly distributed. The vast majority is in the hands of quite a small percentage of people.
It has been said that if you re-distributed all the wealth in the world evenly amongst every human being, that within 2 years it would have redistributed itself back to its original owners.
You may know or have heard of wealthy people, who have gone broke and lost everything, only to have started again and become wealthy in a short period of time.
Or people who suddenly come into money by winning a lottery or getting a redundancy package who seem to lose it all in a short period of time.
Why is this?
Especially given the wide and easy availability of investment knowledge via education, financial advisers, the media, books, and magazines.
It is much easier nowadays to invest than it ever has been before, most Australians own some shares directly, and almost everyone owns shares indirectly via their super or managed funds. Property markets continue to do well, and per head of population, Australians are among the world’s largest property owners.
The reason is that financially successful people think differently, and act differently.
Yes financial knowledge is important, but its thinking and acting differently that sets financially successful people apart from the rest.
And in my experience, it’s a thinking thing first.
Over the last 25 years I have found is that with the same advice and assistance, same knowledge, some people cruise along to better prosperity, whilst others struggle.
I have also learnt that there is a common set of principals and beliefs and habits that financially successful people live by.
These principals, beliefs, and habits mean that they think in a certain way, and act in a certain way, which has led to them being financially successful.
And if you believe in the law of cause and effect, if you can adopt these same principals, beliefs, and habits, there is no reason why you too cannot also be financially successful.
This article is general in nature only and does not constitute or convey specific or professional advice. Formal advice tailored to your specific circumstances should be sought before acting in any of the areas discussed.