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What’s Luck Got To Do With It?
Wealth inspiration part 7
Wisdom can often come in small packages, and wisdom about building wealth is no different.
Today’s quote is from Seneca, the Roman philosopher.
“Luck is what happens when preparation meets opportunity.”
One of the most dangerous beliefs, in my opinion, is that you have to be born rich, or you have to be lucky to build wealth.
Too many look at successful people and believe their success is based on luck, rather than hard work.
Likewise, they believe that their poor results are based on bad luck, rather than either a lack of hard work or a lack of understanding of how to build wealth.
As Seneca points out in a quote that has passed the test of time, luck is not just by chance. If you are not prepared, you will either not be able to spot opportunities, or you will not be able to take advantage of them when they present themselves.
A market crash can be a great opportunity to build wealth by buying assets on sale, but if you are not prepared with the knowledge, the conviction to move quickly, and the spare cash set aside, you will not be able to deploy capital to take advantage of that crash.
