One of the most detrimental things that can hinder someone’s ability to become wealthy is fear. Fear can play a role in many factors.
One of the most obvious fears is fear of failure. So many people are so afraid of failing at something that they literally give up opportunity to gain financially. Most of the time it is simply the failing not the actual outcome of the failing that they are afraid of.
If someone is thinking of a project and they are afraid to fail, the best thing they could do is ask themselves, what is the worst case scenario? If I do this opportunity, what is the worst thing that could happen? When they have come up with the worst possible out come they should ask themselves, could I live with that? If yes, then there is no reason not to try.
Some people fear what others think of them so much that they will not take the first steps toward financially freedom. They say to themselves, “what will my family (or friends, or associates, or neighbors, etc.) think of me if I fail?” No one can please everyone all the time, the one’s who try, end up living in a state of contradiction, because no one thinks or feels the same all the time. There is no possible way to make everyone happy with you. There is no point in caring what others think.
Some people actually fear success. They fear the accountability they will be under if the succeed. They fear what others might expect of them and that they might not be able to continue to perform. This fear is something that those people just have to get passed and realize with more wealth comes more responsibility. As you succeed you will be able to handle more and more stewardship.
Some people fear losing money. They have a misconception that there is a limited amount of wealth in the world and if they are able to get a hold of some they can’t let it go because there is not enough to go around. This fear creates a contradiction in there minds, because there fear of losing money hinders them from gaining money. They want to do things that will gain them more money but at the same time the refuse to do those things because they fear they might lose what they have.
These people need to understand that money and wealth is so abundant in the world that they don’t need to worry about losing it. If they educate themselves on how money works, they can actually create money anytime they need it. The fear of losing money goes away because if they lose what they have they can always get more.
One of my favorite stories is of Donald Trump. At one point in his life he was walking on the street with his wife and pointed to a bum on the street. He then said to his wife, “that bum is a billion dollars more rich than we are.” At that point Trump could have let his fear of those he owed money ruin him from rebuilding his empire.
Instead Trump faced his fears and went to the very people he owed money to. He brain stormed and came up with plans to pay back his debtors and to again be wealthy. Because he chose to not give into his fears, he is again worth billions instead of owing billions.
This is not to say that fear will ever go away. There are challenges for everyone at every level of success and wealth. But those that are successful choose not to give into their fear and move on despite their fear.
What would have happened if George Washington would have given into his fear and not lead the fight in the Revolutionary War? What if the Founding Fathers had given into their fears of the British threats when they signed the Declaration of Independence? What would the world be like if the first computer builders were to afraid of what people would think about a room size calculator? What would the world be like if Einstein cared about what others thought about him being kicked out of school?
Fear is one of the greatest reasons people choose not to be wealthy. The rich have fear, but they don’t let it stand in their way. Anyone who wants to be rich needs to get passed their fears and live a life of courage.