My Grandfather used to always say, “I wish I was born with money rather than good looks”.
I always felt like saying “It wouldn’t really matter, if you were born with money you would be broke by now anyway.“
I don’t mean that to be an insult in anyway. I love my grandparents to bits! In fact they taught me all about working hard and good work ethic.
The way it’s always been done…
My Grandparents and parents worked very hard so we could have a nice life here in Australia. They may have been entrepreneurial or business minded at times, but generally they believed in:
“A honest days pay for a honest days work”
“Money doesn’t grow on trees”
I personally grew up believing I would be a great worker and I will get rich by working smarter and harder than anyone else. From my family I knew good work ethic. And good work ethic people went about their day exchanging time for money.
Generally my grandparents were patient. They invested in assets such as a property which would slowly grow in value over the years. Often the prices doubling in your average 7-10year time frame. Financial success came at very high cost of 50-80 hours a week. Often there was another cost. The toll it took on their time, family, health, social life, recreation if they had any time left over for this. Money doesn’t grow on trees, you got to go out and earn it.
The New Rich, is it real?
The New Rich on the other hand is about achieving the cash flow and freedom now. Often we see these advertisements for get rich quick schemes which almost never work.
The New Rich wants to make it big without spending 50 hours per week trying.
Often they seem to do all it all on their laptop by the beach or cheering on loud audiences at some kind of seminar.
Is it really possible?
Have you met them? Do they really have that money or is it largely all talk?
From my experience around the world and coaching. The New Rich certainly do exist. However for every real new, “New Rich” person, there are countless fakers. Not necessarily fakers. It could just be there using a technique called the ‘As If Frame’. Act as if, you have what you want, and you will get it. Most of us call this, fake it till you make it.
Who are they (the genuine New Rich)?
So in real life, and getting to know people in the bigger games I’ve had a many talks and gotten to know a few of the New Rich. Most of them I’ve met through either Start Up mentoring programs or events, or through property investment groups.
Many of the New Rich were Entrepreneurs that have worked their ass off for 5-15 years before succeeding. Or Investors working hard in a job, buying lots of property or doing property developments. A couple of these entrepreneurs had passive income in excess of average salaries, or net worth in the hundreds of thousands before reaching 25.
So yes, it is certainly possible.
How do they do it?
They often take a concept such as good work ethic but somehow realised or found a way to make money grow on trees.
It’s certainly about working smarter, not harder. That is true. It’s largely about turning passions, strengths or opportunities into value. Turning that value into some kind of business or investment model.
I’m very happy to know your interested in creating wealth. In my mind, I think we all should. Especially since we can and if we don’t want it, well we can make it for those that will never get to make it or can’t access fresh water. Remember, at the end of the day, it’s not about having a million dollars in the bank. What would you do if you had a million dollars?
What would you do if you knew you were going to fail, but did it anyway?