Why do so many poor individuals eat junk food, mismanage their finances, and lack ambition?
Even though the world’s population is projected to be over 7.9 billion people, barely 1% of them are wealthy. The wealthiest 1% of the world’s population now owns 48% of the world’s wealth.
On the other hand, the top 80 wealthiest persons in the world control nearly $1.9 trillion, which is also the amount controlled by 3.5 billion people.
Isn’t that incredible? 80 persons on the planet share the same amount of money as 3.5 billion other people!
Many of us recognize that we are among the bottom 99% of the global population, so global inequality keeps on being a hot-button issue.
There is a feeling among many individuals who do not have wealth that the wealthiest 1% set the rules of an unfair global economy that closes our future.
Is this correct? Do we consider ourselves to be victims? Or are we all too afraid to build riches on our own, so we expect a handout from those who earned it by their work, sweat, and tears?
While many of us would want to believe that all 80 of the world’s wealthiest people inherited their fortunes, just 11 of them did. Should persons from low-income backgrounds be granted money just because they haven’t achieved the same level of achievement as others?
With such a vast number of wealthy people, one would think the world would be flowing with wealth. I don’t think so. Instead, we should all be studying what the rich do and actively doing those things ourselves!
Regrettably, it is the opposite.
It is a mystery why this is the case. People in poverty put in long hours. Isn’t it supposed to be a good enough justification for them to be so wealthy? But, hard work isn’t all that matters when it comes to wealth and prosperity.
One would think that all poor people are expected to end up rich or die rich as compensation for the hardships and sorrows they’ve endured on Earth. Tragically, it is usually often the contrary. Poor people continue to die poor.
Only the wealthy seek to accumulate wealth, and the impoverished continue to deteriorate. On the surface, this appears to be genuine. However, it is untrue and a falsehood.
We have researched and come up with these ten reasons people from low-income families don’t make it to the top.
1. Ignorance
A significant cause of people’s suffering is ignorance. The most painful aspect is that they don’t even realize how far-reaching it is.
Let’s put it into simple grammar, shall we?
Acknowledging the existence of a problem is one of the first steps in solving it. How can poor people know that there is something wrong when they have no prior knowledge of it?
A man’s retrogression results from his lack of information and his unwillingness to unlearn and relearn concepts he believes he already knows.
For example, a man who wants to make money in agriculture but has zero ideas of how to begin simply because of ignorance – what then is his fate?
2. Knowledge
The gathering of information. To become a great person, you must have the appropriate information. In today’s world, having access to accurate and helpful information is significant, i.e. Data is at the very foundation of everything we do or require.
Obtaining the appropriate information will give you a competitive edge over your problems. The relevant knowledge helps people succeed in their health, finances, social lives, and emotional lives.
The difficulty is that the poor lack tangible information on how to get out of poverty. The truth is, some people are less concerned about their problems.
Enlightenment is one of the most powerful ways to bless a man. It’s both intrinsic and long-lasting. Giving a poor man fish or money isn’t helping him.
On the contrary, you can help him by providing enlightenment which only comes from knowledge. It provides illumination, assists him in gaining access to teachings and insight.
3. Discipline
Thomas C. Corey conducted several studies on the rich and poor to determine what separates them and sets them apart.
He observed that the impoverished are indifferent to their circumstances and, in the end, accept their fate. Their day consists of watching TV and other less important activities.
They sway with the wind, not having a plan for the next day, let alone the following five years.
While the wealthy, he claims, are committed to their health and routine, they watch no more than an hour of television per day.
They are never pleased with their current circumstances and are constantly on the lookout for a solution to their difficulties. They are adamant about finding solutions to global issues.
A man can only be extraordinary when he puts instructions and information into practice.
4. Understanding
Understanding involves ‘How to make it produce results.
Nothing ever happens by accident. Wealth does not just appear or fall from the sky. It is the consequence of a deliberate deed performed to achieve effective results.
‘In all your getting, get understanding.’
This adage holds and is still applicable in the twenty-first century. Knowledge without understanding is the same as not knowing it.
The fates of those who possess knowledge but do not understand it and those without knowledge are identical. Their chances are destined to be the same.
It is not enough to have access to information that can change you. You must be aware of the information’s dynamics. Understanding allows you to recognize when to apply what you’ve learned and how to make it worthwhile to yourself and others.
When the processes that activate knowledge are not understood, the ability becomes useless. You can’t recreate anything you don’t understand. It only worked the first time owing to pure luck; that is to say, it is less probable for it to work again.
5. Wisdom
Wisdom is a discussion of applications—the practical utility of what you’ve learned. Understanding something but not being willing to put it into practice is pointless.
Although these are simple keys, the failure to apply them is the source of many people’s regrets and misery.
To make progress, you must be deliberate in your commitment to principles and observe the effects in your life. You will be frustrated if you do not. No kidding.
6. Perseverance
The other one percent of the world’s population can keep their vast wealth coming in because they never give up. They can start a project, fail miserably, and then try again, this time giving it their all and learning from their errors.
Many people become tired and use excuses like “Can’t Stress myself” or “You only live once” to hide their laziness and lack of integrity. It is a great tragedy that while the wealthy get richer, the poor hide and promote their stupidity.
Be unsatisfied with the knowledge you have acquired that isn’t helping you live a better life. The rich self-reflects and wonder why they have gotten it wrong. They do not just yearn for extraordinary results but work towards them. This is no magic trick – It takes work!
When a nursing mother realizes that her infant is not walking and improving as s/he should, she does not disregard her child. Should you then miss your life path if it appears that it leads to failure?
Keep in mind that nothing happens on its own. The measures and efforts that have been put in place will produce many results, given the right amount of work and consistency.
7. Self Actualization
You can only offer what you have, as the saying goes. So, what have you got? There’s nothing as a perfect or worthless man.
The wealthy of today recognized their abilities and flaws and sought to improve them to achieve the outcomes they desired.
To attain success, you must first understand your strengths and limitations. Because they believe it is something to hide and ignore, the impoverished are always ashamed of their vulnerability. If you do not face your anxieties, you can well open your doors to the misery that will follow.
You have nothing to be ashamed of if you are born into a poor home. When it becomes shameful, is when you’ve grown accustomed to it without a plan to change your situation.
8. Pride
The first genuine requirement for extraordinary results is humility. Knowledge is useless to a proud person.
Don’t be one who walks around with the impression that they know more than others. Your humility is the key to your greatness. Are you ready to learn from a 10-year-old?
Are you willing to take a 15-year-old’s advice about fashion? What if a 25-year-old man informs you that your proposal is poorly written and that it has to be rewritten?
Would you be too proud to see reason?
A poor man is satisfied with what he knows and has a low willingness to unlearn and learn new things. On the other hand, the wealthy always want to stay ahead of their opponents, so they seek out more advancements, which leads to more knowledge, which ultimately leads to more wealth.
They say the truth is a terrible pill to swallow, but you can’t compare yourself to Bill Clinton since you do not know what he knows.
What experiences do you have? How well prepared are you for wealth?
Most poor individuals are arrogant without even realizing it. Humility is that state of mind in which you lose your ability to argue and open your mind to learning.
9. Financial Discipline
Some people lack financial discipline and spend their money on items that aren’t significant to them. They’ve got no idea to save money or how to do so wisely. They believe that investment is only for the wealthy and elderly. As such, they utterly disregard stock market lessons and pay no attention to insurance.
Now, because they save and invest more than they consume, the wealthy amass more wealth and cover more ground. They buy insurance coverage for their properties and make investments that will help them grow their wealth. Low-wage workers are the polar opposite of this.
A woman related a story about sending her daughter to the same school as her boss’s daughter. Of course, providing your children with the most significant education possible is essential.
Still, it should not come at the expense of your financial independence. Although her employer had no such problems, this mom was having difficulty paying her child’s school fees.
Now, you could argue that the low-income earner is not poor because she can afford to send her child to an exorbitantly priced school. Still, she had a poor mentality and poor judgment regarding financing and management. One must not overshoot beyond one’s means.
10. Perception
As an example, consider the narrative we just told. A man is defined by his thinking. When your mind screams at you that you’re amazing, you’re fantastic.
A successful man never tells himself that he cannot succeed. However, before becoming a failure in life, a poor man has already pictured failure in his thoughts.
A man is exactly how he thinks in his heart. A poor man’s mentality instills in him a pessimistic attitude, telling him that life is complicated and money is nearly impossible to get by. In the eyes of the poor man, success is a massive barrier that will take years of hard work to overcome.
#Bonus_Circle of Friends.
Here is a simple way to get this into perspective;
Hang around five fools; you’ll become the sixth fool.
Hang around five drunks; you’ll definitely become the sixth drunk.
Hang around five hard-working people: you’ll become the sixth.
Finally, hang around five rich people: you’re the next rich person.
This is just the endless cycle of life. You can’t keep hanging around people with no clue what direction their lives should take, and expect to be any better yourself.
Your friends greatly influence the kind of things you do and the places you even go.
Picking your friends correctly is one thing you need to do carefully.
Wrong friends will lead you nowhere, while good friends will take you to the top.
Don’t be afraid to change friends if the need arises. Your future rests in your hands.
Conclusion
The world is mostly a knowledge-obsessed place that overlooks the importance of comprehension. People are prone to taking the easy road avoiding difficulties, and how deal with them.
Wisdom comes from a combination of knowledge, understanding, and experience. They work as a three-fold cord that is difficult to break.
How well do you believe you’re prepared to run a successful business? Do you have any mentors whom you look up to and admire? Are you willing to study, listen, and obey simultaneously?
A wealthy person’s life is challenging, but a poor person’s life is even more difficult. You don’t feel comfortable in your current circumstances and can rarely afford what you need to get by.
To tackle this, you need to get all of the information regarding the procedure. You should read a lot of books, attend workshops, and training sessions and just eventually, you will obtain the results you want if you are willing to try new things and go the extra mile.
These ten reasons low-income people don’t make it to the top should serve as a wealth guide and a plan to avoid poverty.
We sincerely hope that you propel yourself out of that low situation. Go the extra mile; It’s never crowded up there.
Cheers to your success.
