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Why You Need To Think Long-Term
Wealth inspiration part 26.
Wisdom can often come in small packages, and wisdom about building wealth is no different.
Today’s quote is from Bill Gates, the famous philanthropist and founder of Microsoft:
“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”
This sums up why most people fail to build meaningful wealth — it takes patience.
Rome was not built in a day, as they say.
Magnificent trees, as in the image above, take decades to get grow.
As humans, we get excited about something we believe will change our lives. Maybe a new job, a raise, or a new investment strategy. Maybe just a new diet to lose weight.
How many new year’s resolutions are made? How many are kept?
As per this article, only 9% of people who make New Year’s resolutions successfully kept them by the end of the year.
9% is not a great track record, humanity!
Top reasons for failure as per the same article:
- 35% said they set unrealistic goals
- 33% said they failed to track progress
