Twelve Reasons Why I Will Be Rich |
6 Comments |
Jeffrey Strain writes 10 Reasons You Aren’t Rich for The Street.com. He also writes the popular Personal Finance Advice. The ten reasons are great, but before we get there, I have a couple points of minor criticism.
The title says “rich”, but the introductory paragraph implies that means having a million dollars. Many would disagree in this world of inflation that a million dollars is equivalent with being rich. As an example, it buys a nice little home in my area, Silicon Valley.
My other criticism is that the title is present tense. It heavily implies that if I have followed all ten reasons to this point, then I am rich. Then that promise is broken in the opening paragraph with the words “or on your way to becoming [a millionaire].”
The ten reasons are well worth the read. I personally liked “9. You’re Financially Afraid.” It’s a big reason why I don’t tie up a lot of money earning 5% interest in a high interest bank account. After inflation and taxes, you’re lucky if you make a dollar or two. At the end of the article, I realized that I’m following all the rules, so I’m on my way.
I’d still like to add two more reasons reasons “why you are not rich”:
11. You Need More Time - If you do all these things at age 60, you aren’t going to be rich at age 62.
12. You Need to Have Income - Many people will say this is not true, that’s it’s always possible to spend less than you earn. Back in the Dot Com bust, I had lost all my income except for the occasional contracting gig. I became a frugal maven out of necessity. I would not have become rich with that life style though.
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March 26th, 2007 at 10:38 am
i’ll have to go and check out these links
March 26th, 2007 at 3:47 pm
Okay #11 and #12 are understandable also. #13 I can add is not marrying a rich person! LOL
I can tell you that #1 is almost apart of just being an American. Some of us have that in our blood.
March 26th, 2007 at 6:42 pm
[...] Twelve Reasons Why I Will Be Rich This is actually a response to an excellent article at thestreet.com entitled 10 Reasons You Aren’t Rich. Read them both. (@ lazy man and money) [...]
March 26th, 2007 at 9:30 pm
Didn’t notice that Jeffrey had the opportunity to write for The Street! Cool! He used to live in Silicon Valley too but now he’s over in Japan… we could’ve all had a meet up sometime. Maybe we can all have one if he comes back for a visit.
Also, the topic of “why we aren’t rich” seems to be a popular one. I noticed a similar list a while back on Super Saver’s Wealth Builder blog. Goes to show we all know how to self reflect and hopefully get ourselves pointing towards the right direction towards our dreams.
March 27th, 2007 at 5:55 am
[...] I discussed Twelve Reasons I Will Be Rich. Today I’m going to look at the flip side and give you three things that are preventing me [...]
March 31st, 2007 at 3:26 pm
[...] Twelve Reasons Why I Will Be Rich [Lazy Man and Money]“You Need to Have Income - Many people will say this is not true, that’s it’s always possible to spend less than you earn.” [...]