There are four ways to build wealth:
- Depositor-Investor Path
- The road to a big company
- The path to mastery and
- Dreamer-Entrepreneur’s Path
Based on the vast amount of data I’ve collected since 2004, there’s no question that the fastest way to build the greatest wealth is the dreamer-entrepreneur path.
In my Rich Habits study, Dreamer entrepreneurs accumulated an average of $7.4 million in just 12 years.
Gain more than twice the amount of wealth in less time than the other three paths.
While it may be the fastest and most financially rewarding path to building wealth, it also happens to be the hardest, riskiest, and most stressful path to wealth.
Being a dreamer entrepreneur comes with a lot of sacrifices:
- long working hours – The dreamers/entrepreneurs in my study worked an average of 61 hours a week for 12 years. Weekends and holidays are almost non-existent. The long hours affect everyone around the dreamer. Family and friends are hit hardest by the absence. Often, one spouse must take on the responsibility and raise the children, almost like a single parent. Close friendships are disappearing due to long working hours.
- financial pressure – Making ends meet can cause almost unbearable stress before your dreams start to pay off. Only strong people can withstand this kind of pressure, and that includes spouses. In the early days, getting a steady paycheck was nearly impossible. Fragile marriages are almost certain to break down due to this stress.
- high risk – Dreamers must risk everything they have. Their homes, retirement plans and savings become the assets that fuel their dreams. When dreamers run out of assets, they have no choice but to turn to debt to continue funding their dreams. The lucky ones are eventually able to get a line of credit to make ends meet. The less fortunate are forced to rely on credit cards or loans from family and friends to survive until they can thrive. If they thrive. Pursuing a dream is a gamble. There is absolutely no guarantee that dreams will pay off. Many people fail. In fact, 27% of people in my habit enrichment study failed at least once. Failure could mean bankruptcy. Sometimes, bankruptcy is followed by divorce.
But if you have the skills, the entrepreneurial path will generate the most wealth in the shortest time.
So, is entrepreneurship suitable for you?
Everyone is different, and because everyone is different, their path to building wealth must fit their specific personality.
For example, people who are shy, risk-averse, and have low stress tolerance may find that the life of a Dreamer Entrepreneur is not a good fit for their particular personality.
However, extroverts who love high-stakes challenges and seem immune to pressure are well-suited for the dreamer/entrepreneur path. If that’s you, then the entrepreneurial path is the path for you.
My mission is to share my unique Rich habit research Add value to your life and help you achieve wealth growth, health excellence, success, satisfaction and happiness. If you find these articles valuable, please share them with your inner circle and encourage them Subscribe to my daily tips/articles for Abundant Habits. No one can achieve success on their own. Thank you!
