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I'm a straight talker, so please don't hate me for a harsh, but true statement: when people are falling short of their financial goals, it's almost always because of their own actions and decisions.

Examples:

• Putting off investing in your Roth IRA or maximizing your 401k at work («I need the extra money to fake success for my friends and family»)
• Hating your boss and job, but doing nothing to change your situation («I'm scared to try something new and the interviewing process for a new job is stressful»)
• Putting off the dream of being self employed («Where will I get clients from and how do I get started?»)
• Renting your life and not having an ownership mentality («I really like my low rent payments and driving a flashy car»)
• Taking foolish risks («They'll figure out Social Security's problems by the time I retire»)
  

THE SECRET TO SUCCESS IS THROUGH DEFERRED GRATIFICATION AND TAKING THE ROAD LESS TRAVELED

Who are the affluent? (from THE MILLIONAIRE NEXT DOOR; Stanley & Danko)

• The majority of wealthy families are business owners including self-employed professionals
• 20% of affluent households are retirees ** Of the remaining 80% more than 2/3 are headed by self-employed owners of businesses
• In the US only about 18% of households are headed by a business owner, but the business owner is four times more likely to be a millionaire than the families that work for others.

• According to the US Small Business Administration, over 50% of small businesses fail in the first year and 95% fail within the first five years.
• Small business owners work on average 52 hours a week vs. 34.2 of the average American production employee according to a 2000 study by New York marketing firm Willard & Shullman.
• Before you make the jump make sure you check out the following resource from the United States Small Business Administration: Are you ready?

As a side note are you curious to know what the wealthy tell their children to become?

Willy and Waylon had it right with «Mammas, Don't Let Your Babies Grow Up to Be Cowboys» Let them be doctors, lawyers and such!

According to The Millionaire Next Door millionaires advise their children to become self-employed professionals.

• Physicians, attorneys, engineers, architects, accountants, and dentists.
• Wealthy families are five times more likely to send their children to medical school and four times more likely to send them to law school over other parents in the US.

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