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Myths About The Rich That Are Not True

    IndianMoney.com Research Team | Thursday, February 04,2016, 06:29 PM
 

You must have heard the famous saying “Yes…the rich do get richer”. This saying is definitely true, but not in the way you imagine. There are a number of myths on how the rich become rich. There are even more number of myths, on what the rich do or don’t do, to get rich. Let us take a look at some of these myths.

The Rich are Lazy

You could not be further from the truth. The rich work hard…very hard. Wealth is directly proportional to the number of hours you work. If you are a wealthy businessman and run your own business, can you leave the business in the hands of your employees, without monitoring what they do? This is a sure way to a loss in business. Your employees may work hard, but they concentrate only on their area of specialization. They focus only on a single line of the business. To be a rich successful businessman, you have to focus on the entire business. This means hard work….Definitely more than your employees.

And yes there is another myth going around. The rich have no time for exercise. There are a few famous businessmen, who run marathons and half marathons.

The Rich Inherit Their Wealth

This is definitely not true. The rich are not rich because they inherited money. Many of them were born poor. They work their way up to wealth. Many of them go through very tough times. You have the famous tennis superstar Novak Djokovic. He lived in war torn Belgrade the capital of Serbia, in the 1990’s. Dodging bombs and bullets he became the champion he is today. He is one of the richest tennis players today and has won several grand slams.

The Rich Live an Extravagant Life

If you look hard at the bargain hunters (people who look for bargains when they buy things or shop), you will find several rich people. Many of the rich have grown up in middle class families and know the value of money.

Remember… The real rich never blow their money. Money earned the hard way is never wasted. The rich have more good habits, live a frugal life, live below their means and have excellent decision making skills.

The Rich Are Just Plain Lucky

This is a common myth. The rich were in the right place at the right time. This is definitely not true. The rich are people just like you and me. They are just better grabbers of opportunity. The rich never waste an opportunity to get rich. They make their own luck.

The Rich Have Good Education

Yes… Many of the rich have studied in good reputed Colleges. They have then worked their way up the ladder of success. There are also many people who have grown rich, without formal education. They have made up for the lack of formal education, through sheer hard work. Many of the people who have become rich, have worked part time and paid for a college education.

Hope the myths on the rich are driven away.

IndianMoney.com Research Team

The research team at IndianMoney.com comprises of certified and experienced professionals who share the company's vision to make every Indian financially literate by equipping every Indian with right and unbiased advice. IndianMoney.com research team provides newsletters, articles, videos and FAQs on various financial products and concepts only to help you make wise financial decisions.

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