Avoiding the Seven Wealth Traps

Wealth Can’t Wait, Chapter 3

Everyone has the potential to be wealthy. However, there are these seven most common wealth traps that serve as hindrances to a wealthy life.

Wealth Trap 1: The Stable or Cushy Job - There are those that settle for the job or position that they currently have. However, building wealth necessitates going out of your comfort zone and a recognition of your own potential. 

Wealth Trap 2: Risk Avoidance - Failure is bound to happen to each and every one of us, but that shouldn’t stop you from taking risk. Wealth thrives on resilience. 

Wealth Trap 3: Viewing Wealth as a Negative - Money isn’t evil. What matters most is what you do and can do with it. Wealth isn’t just about money, it’s an exercise of freedom. 

Wealth Trap 4: Not Staying the Course - Facing setbacks and failures is part of the process. These experiences and what you learn from them will help you move forward. Quitting at the sight of failure won’t bring you to wealthy life. 

Wealth Trap 5: The Weak Social Circle - Everyone and everything changes, and your friends most probably will too. Realize that your own growth shouldn’t be hindered by others’. People come and go, appreciate them and move on. 

Wealth Trap 6: The Victim and Negativity Trap - Don’t fall into self-victimization brought about by your past mistakes. Move forward and look at today and tomorrow in a positive light. 

Wealth Trap 7: The Know-It-All Trap - No one can know everything as there are always new things and people to discover. Thinking that you have enough knowledge to move forward in life is the exact thing that will hinder you.