To know thyself is the beginning of wisdom. – Socrates
One of the most profound discoveries I’ve made in my five-year Rich Habits Study, was the fact that there are four ways to become wealth:
- Saver/Investor Path – Save and invest 20% or more of your income.
- Big Company Climber Path – Climb the ladder to senior executive in a large, profitable company.
- Virtuoso Path – Become either a Knowledge-Based or Skill-Based expert in your field.
- Dreamer/Entrepreneur Path – Pursue a dream that can be monetized.
Why is this so revolutionary?
Everyone inherits certain genes from their parents, which helps shape their personality. Also, everyone is raised in different environments – we are all raised in different households, in different neighborhoods, go to different schools, etc.
Our unique genes and upbringing help to shape the individuals we become as adults.
For example, some people are outgoing or shy. Some are risk takers or risk averse. Some can shoulder great stress, without affecting their health and relationships; others crumble under too much stress.
You see, everyone is different and because everyone is different, their path to accumulating wealth must be in alignment with their particular personality.
For example, shy, risk averse, low stress-tolerant individuals would find the life of a Dreamer/Entrepreneur or Big Company Climber ill-suited for their specific personality. Most likely, they would probably hate being in either of those two work environments.
Such individuals would be better suited pursuing wealth by following the Saver/Investor or Virtuoso Path. Either path would work best for them, given their personality type.
Likewise, outgoing individuals who love high-risk challenges and seem immune to stress, are perfectly suited for the Big Company Climber Path or the Dreamer/Entrepreneur Path. If these individuals worked in a back-office job, they would likely hate their job.
Because there are four paths to wealth, it is critical for those who seek wealth to understand which path is right for them. If you pick the wrong path, success will be elusive.
According to a 2012 survey conducted by “Big 4” accounting firm Deloitte, 80% of those surveyed did not like their jobs. In another survey conducted by Gallup in 2013, 63% of the 230,000 employees in the survey said they were unhappy with their jobs.
In my Rich habits Study, 97% of the poor in my Study said that they did not like their job and 58% said they actually hated their job. I believe many of the poor are poor because they are doing work that does not suit their particular personality-types. They hate the work they do because it doesn’t fit their personality profile.
When you don’t like what you do for a living, you’ll do the bare minimum, just to keep your job. You certainly won’t devote extracurricular time to becoming better at a job you hate.
I also learned from my Study that 86% of the wealthy liked their job and that 7% loved their job. One of the main reasons these individuals became rich was because they were doing work that fit their personality profile. When you love what you do for a living, you’ll devote more time to becoming better at what you do.
So, the good news is that there is more than one way to skin a cat. You can become rich no matter your personality type. You just have to know which path to wealth is right for you, based upon your individual personality.
Therefore, the most important first step in your pursuit of wealth, is to know thyself.
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