In a rough estimate, 90% of the world population is fighting over 10% of the world’s wealth while 10% of people own the rest of the 90%. Given this ridiculous statistics, why would majority of the people choose to be poor than rich?
Simply, poor people have different values from rich people. Poor people value SECURITY that’s why they go to school, study hard and get good grades to get a safe and secure job. Majority wants security because that’s the way the school system and their environment has programmed them to be. Security for them is important because they are afraid to take risks. When they did take risks before, they were punished for doing so. That’s why they avoid any form of risk to satisfy the whims of the status quo and would rather stick to security. While the rich, on the other hand, are getting richer because they value FREEDOM. With financial independence, the rich is provided with more options that the poor can only dream of. These options come in the form of achieving their dreams in life and doing the things they’re passionate about without really worrying about the lack of time and money. It’s simply a matter of practicality. The rich thinks that it’s stupid to work for 10% when 90% of the wealth exists.
During the Industrial Age, organizations can tolerate some inefficiency of maintaining fat paychecks and retirement plans. But in the Information Age, for firms to be competitive or, at least, to survive there’s a need to make economic sacrifices in the form of cutting paychecks, eliminating a guaranteed retirement plan, downsizing and outsourcing. To compete in the workforce, an individual is expected not only to study hard to get a good job but to continue studying harder in order to get another job. It’s a vicious cycle of someone running in circles. Despite this, society and the school system still buy to the dogma of “study hard to get good grades to get a secure job.” Financial literacy today is no longer an edge but a necessity for financial and, ultimately, life success and significance. In today’s world, there’s no such thing as economic or job security.
People would rather be poor than rich because of fear. With fear, they stick to the illusion of security. Fear that they won’t fit into the status quo, to the 90% of the population. Fear that they won’t be good enough to their so called teachers and employers. Fear that they will fail if they take risks. This fear paralyzes majority of the people, thus, the inevitable happens: an empty bank account and a mountain of debt. While the rich would rather be rich because they value freedom. They know that to become financially literate takes time and paying the price that the poor are not willing to pay. They take calculated risks and get rewarded for it. They generate businesses and assets that produce income capable of setting them free. It’s a different mindset. Poor people are motivated by FEAR while rich people by FREEDOM
Now, you know why people would rather be poor than rich. But, the question is, would you rather be poor and fearful or rich and free?
Your choice. Financially educate yourself now.
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