If you want to be rich, first stop being so frightened

Discussion in 'Psychology' started by Businessman, Jul 30, 2006.

  1. http://www.timesonline.co.uk/article/0,,2092-2291061_1,00.html

  2. Cheese


    Consider carefully this shortlist:

    "If you are unwilling to fail, sometimes publicly, and even catastrophically, you stand little chance of ever getting rich.

    If you care what the neighbors think, you will never get rich.

    If you cannot bear the thought of causing worry to your family, spouse or lover while you plough a lonely, dangerous road rather than taking the safe option of a regular job, you will never get rich.

    If you have artistic inclinations and fear that the search for wealth will coarsen such talents, you will never get rich. (Because your fear, in this instance, is well justified.)

    If you are not prepared to work longer hours than almost anyone you know, despite the jibes of colleagues and friends, you are unlikely to get rich.

    If you cannot convince yourself that you are “good enough” to be rich, you will never get rich.

    If you cannot treat your quest to get rich as a game, you will never be rich.

    If you cannot face up to your fear of failure, you will never be rich.
    The truth is that getting rich means sacrifice. And it isn’t always you that’s doing the sacrificing. This is not a calling for the faint-hearted. There is no shame in turning away. After all, if everyone was prepared to make the necessary sacrifices, who would be left to work for my own companies? Quite apart from sacrifice, there is a last brutal truth to be confronted. After a lifetime of making money and observing better men and women than me fall by the wayside, I am convinced that fear of failing in the eyes of the world is the single biggest impediment to amassing wealth. Trust me on this."

    This is pretty good.
    Apply it to members of ET or current ET members who post because most who have registered presumably have passed on by to elsewhere.

    'Unwilling to fail'. Everything is 'No, can't do, won't do'; its a fact of existence most ignore but still make a life to fit all that. Its a big world. Who needs to know if you haven't made it yet?

    'Neighbors' F**k the neighbors; they're on their own selfish agenda as is everyone.

    'Family'. Hell you're not going to offend them trying to make money or making money. And if they don't quite approve they're not going to cut off your arms and legs.

    'Artistic'. Who gives a horsesh*t about arty farty posers mixed in with a lot unreal and pretentious fudge packers! Artistry is those moving numbers on the DOW filling your life up with money.

    'Work'. Sure, plenty needed. Makes me content. How about you?

    'Good enough'. Oh yeah here is a stumbling block. The many want confirmation that they are losers. This will block out most aspirants who want big money.

    'Not a game'. Well, hell, it is a game. But it is a serious game I will concede that.

    'Faint hearted' This is the condition of the masses and not a characteristic of winners. No surprise there.

    'Fear of failure?'
    I wouldn't know what it meant.

    I follow my agenda.
  3. Rather provocative
    The truth is that getting rich means sacrifice.

    Well Yes, but I have found a few traders that have nothing to lose, but do not look for them as this statement below is correct, but I do not put it so brashly.
    'Neighbors' F**k the neighbors; they're on their own selfish agenda as is everyone.

    The "failure, psych thing" may be true for some, but it is not an absolute. If you find your edge early and realize that the job is to keep finding them, then you greet failure with conditions. Your "artistic" abilities are not lies to yourself, but you can learn to harness and depend upon your god-given creativity. Failure and success is a guarantee (yes I used that G word) in every traders life, one way or another. deal with it!
  4. Your "peter principal" ....where is it...? where are you?
  5. awesome.
  6. sim03


    Sounds like this will be a cool book to check out, in a month.


    Total assets

    £1m-£2m The comfortable poor

    £2m-£5m The comfortably off

    £5m-£15m The comfortably wealthy

    £15m-£40m The lesser rich

    £40m-£75m The comfortably rich

    £75m-£100m The rich

    £100m-£200m The seriously rich

    £200m-£400m The truly rich

    £400m-£999m The filthy rich

    More than £999m The super rich"

    So, what would be an apt description for the vast majority, the conspicuously missing "0-£1m" category? "The uncomfortable working poor"? :p
  7. Well, if you want to leave this category - there's an opportunity approaching. The country is going into recession. Dow hat you will with that information.

    MrsSavant has been kind enough to comment on this assertion (made by roubini). I truly think the guy has got most of it dead-on.

    US recession in 07!
  8. So true. Confidence, and the proper resistance to the pain of error. Time and time again the truly successful people I've seen have those two traits. And I don't define successful in monetary terms, but in terms of mastery of any life-long activity that gives pleasure and fulfilment and all the rewards that follow. You could be successful as a fly fisherman in Wisconsin or running an NGO, as who's to say the happiness and contentment experienced by someone at peace with themselves and their chosen activity is any greater than someone renting a yacht for a 200 person party at $100,000 a day?

    Got the drive and confidence, myself. The pain resistance is the struggle for me.
  9. It appears to me that the author is uncomfortable in that chair

    ...and his suit as well.:D

    Having said that, I truely enjoyed this synopsis.

    --points to ponder.
    #10     Jul 30, 2006