It is commonly said that the rich are getting richer while the poor are getting poorer. It’s true.
Most wealthy people are building and maintaining their estates through ethical measures while a minority are doing so through the exploitation of others. Where there is a minority of rich people seeking the disenfranchised, the bulk of people living in poverty in free countries may be doing so through a course that they sought, partially by way of their association with friends and family.
Good Genes + Experience = Success
Malcolm Gladwell’s 2008 book, Outliers, notes that the majority of professional Canadian hockey players were born from January through March. The reason is that as children these players were just a slight bit larger and stronger due to a few months of growth. As a result, they received more playing time. Over time, the experience became paramount in building their skills, speed, and strength on the ice, eventually allowing them to eclipse their younger teammates by way of experience as well as raw ability and size.
Another interesting publication, Super Freakonomics, released in 2009 by Steven Levitt and Stephen Dubner, states that the same goes for professional baseball players born after July 31. But something far greater than the birth month in one’s future as a pro athlete is whether one’s parent(s) were pro athletes or not. According to Levitt and Dubner’s findings, having a father who played professional baseball makes it “800 times more likely” for a son to play in the MLB than any other boy.
Similar statements could be made for doctors, accountants, lawyers, and business people. Vice President Joseph Biden’s son, Joseph Biden III, may have become the Attorney General of the state of Delaware on his own merits, but having a father who was a US Senator from that state certainly did not hurt, just as the same could be said of Alaskan Senator, Lisa Murkowski (D) whose father, Frank, had held the position previously.
Having someone who’s walked the walk while also passing on the natural abilities genetically along with a network of friends and colleagues increases the odds of one achieving something more than average.
But what about those whose parents did not achieve a high level of success, prestige, or wealth, or those who don’t have parents at all?
Networking is an Important Key to Success
Trust is a critical factor in commerce. Like hiring TempCFO as your CFO outsourcer to handle your accounting tasks, you must bestow trust in external forces that specialize in necessary skills to relieve you of handling these things yourself.
There are several important keys to achievement. Among them are setting goals and deliberately working toward them.
If a person wants to become a champion of the martial arts, she would have to train hard as well as study through videos and books. Also, she should associate with former and current champions.
The same goes for building wealth. People with no wealth have ideas and engage in activities that are contrary to building it. In Donald Trump’s 1989 book, The Art of the Deal, he specifically states in a chapter going over the minutes of his week that “going out to lunch is a waste of time.” How many less successful people would think the opposite, not just for themselves, but especially if they were running a huge corporation?
Being around wealthy people will rub off. They will display how and what they think, talk about, and are investing in, as well as their ideas about debt and work ethic.
Finding Successful People
While it’s true that a smaller amount of people are wealthy that are broke, it is also true that many successful people are willing to mentor a young person who is serious about learning to be successful.
A good boss at work looking to achieve more will want to find someone to take his position before he leaves. A retired person who is enjoying the fruits of his labor would often enjoy passing on the wisdom he’d acquired from his past work.
Another great place to find people is through school and professional associations. Adults going through college are often very focused on improving their future to include their income. People in social or professional associations, such as a Lions Club or the Knights of Columbus, want to meet new people for business and pleasure, often enjoying the combining of the two by giving each other company while getting better acquainted.
Dave Ramsey has said on his radio show, The Dave Ramsey Show, on several occasions that it’s been proven that over time, people will earn an income within 10% of their five closest friends.
Should one pick friends solely on their income? Of course not. Should a person try to achieve greater things with friends who are interested? Definitely. That’s how people get wealthy through association.