10 Reasons You're Not a Millionaire -- Yet The world makes it tough to get rich but only our pessimism makes it impossible.
By Timothy Sykes Edited by Dan Bova
Our biggest sale — Get unlimited access to Entrepreneur.com at an unbeatable price. Use code SAVE50 at checkout.*
Claim Offer*Offer only available to new subscribers
Opinions expressed by Entrepreneur contributors are their own.
Many people out there desperately want to be millionaires, and why wouldn't they? While money may not buy happiness it can buy a better, less stressful and more fulfilled life. However, before you can be a millionaire you need to have the right strategy and know the reasons why you haven't met this goal already.
Everybody who wants to be millionaire but isn't has excuses. "I didn't pick the right career," "I can't afford the schooling," or "I don't have time." These are not reasons, but just excuses and excuses only get in the way of your success. Here are 10 reasons why people do not become millionaires.
1. You have no one guiding you in the right direction.
You need to surround yourself with positive people. Most importantly, you need to find someone you can trust that will help guide you in the right direction. The people you trust most should be the ones pushing you towards success. This is one advantage I did not have early on. I am entirely self-taught, which is why I have created my mentoring program to give that advantage to others.
2. You aren't willing to make sacrifices.
You really cannot have your cake and eat it too, there are things that you will need to give up. If you can't sacrifice things like hanging with friends or going out and partying in order to focus on your career, then you will never get the financial success you have been looking for.
Related: 4 Reasons Why You'll Never Be a Millionaire, and How You Can Change That
3. You fear failure.
You will fail, you will make mistakes, and you need to learn to get over it. If you fear failure, you will never overcome it.
4. Your goals aren't clear, so neither are your actions.
If you don't have a clear goal in mind and clear action steps in place to reach that goal, you will never become a millionaire. Take the time to do the planning and do it right.
5. You think other people can succeed but not you.
Believe that you can succeed. Visualize yourself as that successful man or woman who you once envied. If you visualize yourself being a millionaire success, and truly believe it can happen, you are one step closer to your goal.
6. You think your background or location prevents your success.
Nothing can prevent you from success. Lets repeat that: nothing can prevent you from success.
7. You aren't using the Internet.
The Internet has changed the world and it continues to change the world. If you aren't using, you aren't taking advantage of one of the most powerful money making tools out there.
Related: How to Become a Millionaire by Age 30
8. You rationalize money can't buy happiness and forget that it can buy freedom.
Money is your ticket to the freedom so many people want in this world. Freedom can lead to happiness. To find your motivation focus on the freedom that money can buy you.
9. You hang out with the wrong crowd.
The people around you should be your support system. They should be the people there for you, pushing you and keeping you positive and focused. Your crowd of friends and family should not be distractions or negative in any way. If they are, it is time to find a new crowd.
10. You play long shots like the lotto instead of building your skill set.
Building your own skill set and knowledge base is better for you in the long term. Sure, it takes more time and more work but it can lead you to the long-term success that you desire.
Keep these reasons in mind when you are working towards your next professional goal. You will see first hand what you are capable of if you just put these reasons off to the side and focus instead on your path towards becoming a millionaire.
