Why do you want to be rich?
Sometimes, teaching people how to get rich gets me a bad rap. “You just want to make money,” I’ve been told. Or “money isn’t everything.” These gems, while not particularly eloquent, do have a point. Actually, I’d prefer that these people ask me why I teach people to be rich. It’s important to ask yourself, too: Why do you want to be rich?
Take a second and think about it.
Do you want to have a luxurious lifestyle? Do you want to travel? To eat at nice restaurants? Maybe you want to start your own business.
I believe it’s really important to consciously think about why you want to be rich. If you don’t, it’s easy to get caught up in a race to get more and more money without ever knowing why.
“But Ramit,” you might say, “I’m really smart. I got a 4.0 at Stanford and I don’t really want to take the time to think about this. I just want some cash, playa!!”
After I point and laugh at you, I’ll actually get serious. Trust me–take an hour to write it down and compare your long-term goals to what you’re actually doing on a day-to-day basis. It’s easy to say and harder to do, so I’ve taken my own advice below. And hopefully, I can use these things to explain why I teach people to be rich. It’s not just money–far from it.
Why I teach/learn how to be rich
In one sentence: I never want to have to make a bad decision because of money (e.g., staying at a job I don’t love because of car payments).
Long-term goals of earning wealth (in order):
- Give my parents a retirement where they don’t have to work if they don’t want to
- Comfortable, sometimes gaudy lifestyle (I love pens)
- Make career decisions because I want to, not because of money
- Stay in touch with my friends by seeing them in person often
Start a scholarship fund for high school/college entrepreneurs[done]
There it is: an online, accountable list of goals for why I teach and learn how to be rich. What if you made a list like this and checked it every 6 months to see if you were moving towards your goals?
You ever wake up, hungover, and think back to something you said the night before, and physically cringe? Now imagine ...Read More