Oct 26, 20239 min read

10 Real Costs Of Getting Rich - LIFE THEORY 46

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10 Real Costs Of Getting Rich - LIFE THEORY

What is the real cost of getting rich is high! It might be healthy for someone or family for someone else. Join us in today's episode of "LifeTheory" to find out the top 10. Why are some people rich and how do you get rich? What are the habits of rich people, and why do some people stay poor? How much money do you need to be rich?

#6 - 10 Real Costs Of Getting Rich

I. Health

II. Relationships

III. Family

IV. Time & Sleep

V. All Comforts In Life

VI. Peace & Quiet

VII. Vacations & Leasure Time

VIII. Things You Enjoy In Life

IX. Living In Your City or Country

X. Knowing Yourself

XI. The Benefits

Hello! And welcome to another episode of "Life Theory."

We hope that after the last one, you slept well, tried to find your rhythm, and are now ready to take on the world. On your own time, at your own pace. We talked in previous episodes about different aspects of how to get rich. Now let's talk about what the price of getting there actually is. If you haven't seen the episode, you can watch it anytime. A link will be provided in the description. And be sure to subscribe, never to miss another video. With that said.

Number One! Health!

Like it or hate it. Agree with it or disagree with it. One of the highest costs we have to pay initially is the one that we hopefully have an abundance of. Health!

When we are young or in our early thirties, we have something we never even think of as an asset. Being healthy is the first requirement of being able to get to richness. Trading some of this health for richness is part of the game we threw ourselves into! That might mean a different thing for different people. Working full time while studying, or working for another 8 hours, after our standard 8-hour typical workday. Or simply working 16-hour shifts to get as fast as possible to the corporate ladder.

You want to bring that new client, but he is only available on Saturday. You go and meet him! Then the papers need to be done by Monday. You do them on Sunday. This all takes chunks of our physical and mental health, and it is the early price we all have to pay to make ourselves visible to our company, our superiors, and the entire world.

This is why so many rich people need to go to therapy. They are so burned out that therapy is the only way to get their eyes back to the ground. Until the next session! And since chasing financial success is the number one priority, a therapist is the only real relationship they have with a non-work human being.

That brings us to,

Number 2! Relationships!

Not everyone is Tom and Lisa Bilyeu! Having nothing, working constantly, and making it somehow together at the finish line.

The reality for most people is that their relationships will suffer. Dating becomes fiction from once upon a time, friendships get tested like never before, and colleagues start to wish for you to fail. People feel threatened by your state of mind, and your ability to work around the clock, and you are no longer desirable. You have become a competition and a pretty damn competitive one.

When you level up your game, people who don't understand you will distance themself from you, and people who get you, will wait for you to prove your worth. As a result, you will have to forget about days like Valentine's or Christmas with the family. And speaking of family.

Number 3. Family!

If you are lucky enough to have your mom and dad around, it will be tough to make them understand why you are doing what you are doing. They have grown up in a time where success is having a job for 50 years and spending every holiday with the family. That is no longer the case in 2022. They won't understand you, and it might seem that they even don't support you. You just have to realize that they love you and don't want you to waste your time and end up on the ground, but what they will never understand is that for you, being on the floor beats working a mediocre job until a pension is the absolute rock bottom for you.

You will have to make a phone call for a birthday instead of getting there in person, or you might not be able to go if a distant relative gets into a hospital. This is a stiff price to pay for anyone, not being able to be there for the good or the challenging moments for the family. But time is rarely on your side when being on the journey called richness.

And, since we mentioned time.

Number 4! Time and Sleep!

Success might be the Everest everyone is trying to climb but rarely comes to that are going to bed at ten and waking up at 8.

The rich don't get rich by having more than 24 hours a day! They make the most of the 24 hours we all get, and working while others are sleeping is the first step to getting closer to wealth.

There is no long sleep on weekends for them. Saturday is just another Monday and Sunday! Those are just long Fridays for the people who want to get to the top of the financial pyramid.

This is not even a choice you have to make. It is a thing that just happens. The server will crash. The meeting is on the other side of the globe, or someone just called in sick, and there is no one to replace them, and you have to take on that as well. And the funny thing is that when you are hungry, and you are doing this for your future self, you don't mind the sleepless nights, the missed sunshine on the weekend.

The time you used to have for a drink at the bar with friends or a walk in the park with a loved one becomes from a weekly moment to every two or three months planned and pinned on the calendar activity.

It is a little bit ironic how to have time, we have to sacrifice time. There is no way to get more time, but investing our time today can get us the freedom of truly owning the majority of our time in the future.

Number 5! Say Goodbye To All Comforts In Life!

You don't become wealthy by getting comfortable while you are building wealth. You become rich by not buying that new autumn sweater by not getting that Starbucks cup of coffee. You have to say no to almost everything that costs money and brings comfort. Spotify premium? Don't think so! A new comfy blanket, not in this decade! Dinner at a restaurant? No! More like eggs, spinach, and lentils at home.

Want to see the latest Marvel movie at the cinema? You have to say no to that as well. You get the point. We don't mean to deprive ourselves of all the beauty in life, but entertainment should not be at the top of that list.

Number Six! Peace and quiet!

Building your way to wealth might have many costs at different stages at different levels. But, one thing you are not going to have in the beginning is peaceful times. When someone can shit the fence and someone else to be here for the cleanup is gone! And those messed-up situations will happen all the time! You won't be able to have peace of mind if the client is going to leave, or if the client will buy what you are saying, or whatever the situation might be for you. Because in the beginning, even calm waters will seem like the worst storm.

Just set yourself up for a wild and crazy ride, and accept the stormy winds ahead.

Number 8! Vacations and Leasure Time!

We mentioned this already, but now you have to listen closely. Vacations are the fastest way to keep yourself away from your financial goals. You might want to go on that mountain hike with your friends or visit sunny Iceland, especially now, that everything is reopening after two years of COVID-19. But as outstanding as that sounds. In the beginning, this might be the thing that makes or breaks it for you. Your financial goals are not to be able to save money for a 2-week vacation every year. Your goal is to be able to go wherever you want, whenever you want, without even worrying about what the effect of that trip might have on your business. And that stage of wealth is achieved by saying no to a couple of summers to enjoy every season for the rest of your life. The goal is to change your mindset in such a way that two weeks' vacation will look like a punishment for what you might have in the future.

NUMBER 8! Things You Enjoy In Life!

NUMBER 9! Not Living In Your City or Country.

If you want to go fast, go alone. If you want to go far, go together. If you're going to be rich, go outside your city borders, state borders, or even country borders. It is no coincidence that some of the wealthiest people in specific cities and countries.

The real estate opportunities in New York state will be different from Nebraska's. The better lawyers will be in California and not in Memphis.

The purchasing power of people in Germany or the United Kingdom will be greater than in any country in Eastern Europe.

When you were growing up, you didn't have the option to move to a better place. You went to the same city's kindergarten and schools. Then you probably moved to a new place to study and just stayed there, because it was familiar, or you didn't study and stayed in your home city and started work.

Imagine you want to sell retro clothes in your small shop. Will you choose San Franciso or decide to stay and try in Montana?

You see, you might have all it takes to make it but choose the wrong place, and you will fall down to your knees before you can understand what has happened.

Elon Musk was born in Pretoria, South Africa. Oprah Winfrey is from Kosciusko, Mississippi.

Do you think someone would have known the name of Elon Musk if he stayed in South Africa, or that Oprah would have become the person she has become if she hadn't moved?

And this is the truth. Moving away from family, friends, loved ones, and pretty much anyone in your life isn't an easy thing. But this is a must if you truly want to be rich and surround yourself with people striving for the same thing.

Just remember. Wherever you move, move there with a specific goal in life, and be sure that it aligns with your vision and offers the best possible soil for you to succeed.

NUMBER 10. Losing Yourself!

One thing that will happen in your path to richness is getting lost in who you were or what you wanted to become in the first place. On your way to success, you will meet with so many people and experience all the good but also all of the evil in people. You will be shaped in a way by different opinions, you will have to make choices that you disagree with, but you will have to make them anyway.

It is crucial in those shaping periods not to lose yourself in all of the madness. Because when the day comes that you finally reach the top, but you burn more bridges than you built, it will be a lonely and unsatisfying feeling.

There are countless rich people who would exchange almost all of their money in order to experience a walk with a real friend, a hike with the family, or walk straight up when they pass someone they have been cruel and unjustified for their own benefit back in the day.

That was all from today's episode in "Life Theory." For staying until the end, we have something positive at the end of the video.

NUMBER 11! The Benefits.

Getting financial success in life can bring the one thing money can and, at the same time, can not buy. TIME!

You might have learned and failed in your twenties, and you might have spent your thirties is hard work, but if you succeed, by the time you are in your forties, you can decide how to live your life without having to rely on anyone else, at least financially. You can work only 4 hours a day, 4 hours a week, sell your business, and travel around the world until you are in your 80s.

The costs of a rich life might be high, but the benefits are far more significant than the sacrifices you will have to make in life anyway.

Thank You!

And until next time,

Keep on Rising.

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