Avoid These 8 Rich Life Traps If You Want To Live A Wealthy Life

Avoid These 8 Rich Life Traps If You Want To Live A Wealthy Life

The rest of the world wants you to be bland. It does, however, have an amusing way of attempting to force you to comply. Nobody is going to say it out loud.

They’ll instead say stuff like:

  • “Are you sure that’s what you’re wearing?”
  • “Want to start a business?” You should just be grateful to have a job.”
  • “You should purchase a home.” “Why would you waste money on rent?”

If you’re an IWT reader, you’re likely to make some odd life decisions. Perhaps you’ll rent rather than purchase. Perhaps you’ll start your own company. Perhaps you’ll hire a personal trainer for a large sum of money.

There will be a more hurdles in the way of your Rich Life vision, such as how other people believe you should conduct your life, that might cause it to be delayed, detoured, or even dead-ended.

Keep an eye out for these 8 Rich Life Traps to avoid the most typical blunders.

Rich does not always imply “fancy.” It may refer to a variety of things:

  • Spending more time with relatives
  • An increase in safety and security
  • More enjoyment and freedom
  • Less anxiety

You should define “Rich” for yourself. Don’t get caught up in the societal clichés regarding money.

How to prevent it: Make a list of all the things Rich means to you. At least once a year, revisit your definition and revise it as your thinking evolves. Include in your Rich Life vision, which we’ll walk you through in our free mini-course, How to Design Your Rich Life.


It’s a tragedy to live a life that’s less than you deserve.

What a sorrow it is to find in your senior years that you have lived a lesser life than you needed to.

  • You scrimped and pinched your way through your Target bill. But it didn’t make a difference.
  • You’re hesitant to order a second appetiser. However, you could have purchased whatever number of appetisers you wanted.

Do you want to be 70 years old and have $6 million in your bank account, having fretted about your spending the whole time? Would you even know what to do with that type of cash if you were 70 years old?

Too many of my readers find themselves in a predicament where they save and save. But never learn to spend.

How to prevent it: Begin by learning how to manage your finances. I realise that sounds strange. We’ve been taught that spending is bad and conserving is the most important thing. However, if you never learn how to spend money wisely — without guilt or stress and in a manner that supports your Rich Life — you’ll wind up shortchanging yourself in the long run.

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The majority of life counsel starts with the word “no.”

Yes, it should be the first step toward a prosperous life. However, the majority of life advice is predicated on limitations:

  • “You can’t purchase lattes,” says the narrator.
  • “You are not permitted to take a vacation.”
  • “You shouldn’t seek a new job (just be grateful for the one you have).”

A Rich Life, in my opinion, starts with saying YES: Yes, this is what I want to experience in my life. Yes, I can earn and invest enough to meet my goals with some assistance. Yes, I can appreciate what I have today while striving toward my Rich Life.

Stay away from it: Make sure the Big Wins are correct. You’ll practically never have to worry about little details like “Can I afford this appetiser?” if you do. “Should I spend $3.50 on this mocha?” or “Should I spend $3.50 on this mocha?”


Keep an eye out for the “negative vortex.”

I invite prospective readers to write me an email describing their Rich Life in my book. see at this email I received from one of those new subscribers:

What do you think you’ve noticed?

  • “It doesn’t have to be something extraordinary.”
  • “By no means as opulent as they are”

Every day, I get hundreds of emails like this. When I question someone about their Rich Life, they generally begin by mentioning a few broad concepts such as freedom of travel. Then they rapidly go on to everything they don’t desire. “It’s not like I need a Porsche” or “I don’t want to be a slave to my desk,” they say.

This spirals into an addictive vortex since talking about what we don’t want is simpler than finding out what we want. It gives us the impression of being in command, but it halts our development.

Learning and leaning into your particular Money Dials is the greatest method to accomplish it. Focus on what you do want to avoid. Then repeat the process. In the free How to Design Your Rich Life mini-course, you’ll learn how to identify your Money Dials.

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Be wary of the never-ending hunt for “advanced” advice.

Many individuals want high-level solutions to avoid doing the actual, hard work of incremental improvement. It’s simpler to fantasise about winning the Boston Marathon than going for a daily ten-minute jog.

Sometimes the most sophisticated thing you can do is consistently get the fundamentals right.

How to prevent it: Begin by aiming for the 85% Solution, then go on and enjoy your life.


Putting more emphasis on one aspect of your life

Many individuals go “heads down” on one aspect of their lives — usually employment or saving — and neglect other aspects. Years, if not decades, may pass with this imbalance.

You run the danger of being unable to move your concentration to other areas of your life years later after you’ve achieved success in that area. You won’t have honed the talents needed to succeed in other areas. And the cognitive dissonance of the understanding you’ve squandered so many possibilities will make it impossible for you to acknowledge and confess your error.

How to stay away from it: After you’ve created your Rich Life map, which I’ll walk you through in the free How to Design Your Rich Life mini-course, ask yourself these questions:

  • Do you have any areas in your life that are noticeably inadequate or missing right now?
  • What steps can you take to begin researching those topics, even if it’s in little steps?


The inability to turn the page

Your vision for a Rich Life SHOULD evolve throughout time.

Is your Rich Life vision evolving as you grow, mature, thrive, and achieve your goals? When I was in my twenties, for example, my definition of a Rich Life was being able to order a round of drinks without feeling guilty. It’s about a lot more, including staying at nice hotels and tipping handsomely.

Myself back then and today

How to stay away from it: At least once a year, take the time to examine and update your Rich Life vision. Consider the following questions:

  • What has changed in my aims and vision over the last year?
  • What am I looking forward to adding?
  • What am I no longer interested in?
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Then adjust your objectives, commitments, and timetables to reflect your new perspective. (Letting go of old ambitions that no longer appeal to you is extremely liberating.) Also, to create room for your new ambitions and passions.) And do it without any remorse.


The wrong people surround you.

Nobody gets to their Rich Life on their own. As Jim Rohn puts it, you are the average of your five closest friends.

  • With whom do you putting the most time?
  • Do they constantly complain?
  • Do they boast about their thriftiness and saving?
  • Do they have a vision for their Rich Lives and a strategy to get there?

How to stay away from it: Make a list of the five people you have the most contact with. Now consider this: Are they beneficial, uplifting influences in your life?

Consider how different your life would be if you just began spending less time with negative individuals and more time with good ones. What would it be like to spend less time with them and more time with someone else if none of them is? You don’t have to “call them out” or “break up” with them.

Small adjustments like these may accumulate over time and transform your viewpoint and your energy levels, happiness, and life.

Create your vision for a prosperous life.

You must begin with a vision to escape these frequent Rich Life traps and live your own unique Rich Life. Who are you going to bring with you? What does it resemble? What route will you take?

To help you achieve exactly that, I’ve created a fresh new free mini-course called How to Design Your Rich Life.

You’ll construct a clear image of your unique Rich Life in just an hour, allowing you to begin living consciously, concentrating on the things you enjoy while dismissing those you don’t.

You’ll learn the following things along the way:

  • What constitutes a rich life and what does not?
  • How to create a Rich Life Map.
  • How to turn up the volume on your happiness.

When you’re finished, you’ll have your vision to guide you for the rest of your life.

Just fill out the form below; it’s completely free to enrol.