Overcoming Wealth Limiting Thinking

by Bob

moneyTalking to friends and reading forums I see a popular misconception about how success, and in particular money work that I want to share with you to get your feedback on.

This way of thinking in particular I call a “Wealth Limiting Thought“, but there are of course many such beliefs that hold us back.

The reason I picked on this one is because of all of them I think people really do believe the wrong thing, it is not just something we tell ourselves but we even see it as the root idea behind advice. What is this misconception?

The mistake I see is people thinking today’s efforts create today’s results.

Success today only appears to be based on today’s efforts!

Your bank balance that you see right now is very unlikely to be just from the work you did this morning, right? No, it’s the cumulation of everything leading up to today.

Your bank account reflects the old you, not the new one!

But look around and listen out. What do you hear?

  • “overnight success”
  • “came from nowhere”
  • “business home-run”
  • “rising star”

Truth be told, what seem to be instant stars often have put in decades of effort. In fact the only overnight successes are lottery winners and we all know how likely that is.

Far worse than the fallacy of “overnight success” is people trying to emulate these current tactics rather than understanding the whole strategy.

We have to do what works, incrementally improve every day, and keep monitoring our results. Our results are always connected to our past behavior, we need to keep aware of what we did yesterday to create todays improvements.

If not, then we are just gambling and trusting luck. I would rather trust good judgment! :)