Fear of becoming rich

If I want to be successful and rich, then I need to overcome my fear of failure. That is my conclusion after attending quite a few seminars and reading a lot of books including the Rich Dad’s series by Robert Kiyosaki. If I could overcome my fear of failure, then I would be able to make mistakes. By learning from my mistakes and never repeating them again, I would be able to accelerate my learning process and thus achieving success in a much shorter time.

By perceiving failures as valuable lessons that could lead to success and wealth, I could reduce my fear of failure to a minimum. But is fear of failure the only fear that I had to face during my struggle to be successful and rich?

After doing some research and reflecting upon this question, I have came out with a list of fears other than fear of failure that I felt that I had to face during my struggle to be successful and rich.

Firstly, there is a fear of success. Most people including myself tend to link success to busy. The reason that I want to be rich and successful is because I want to gain financial freedom. With financial freedom, I can do the things that I like. But if I were become so busy after achieving success, this would defeat the whole purpose of me trying to become rich and successful in the first place.

It is important to manage the fear of success. If not, I am likely to sabotage myself subconsciously to prevent myself from achieving success and wealth. To reduce fear of success, there is need to choose a business or asset that could run without actively involving me. This is inline with what I have learned from the cashflow quadrant by Robert Kiyosaki. Be a business owner or an investor if I want to be successful and rich.

For examples, a successful multi-level marketing business could run almost without me because there is a system in place. I will need to be involved but not to the extent that the moment that I am on leave, the business stop. This is different compared to a self-employed person such as a doctor. The moment the doctor is on leave, the clinic business will not be able to function unless there is another doctor. As for asset, if I invest in a property and rent it out, other than collecting rental, there is minimum work on my part.

Secondly, there is a fear of unknown. If I were to work for money, then I would more or less know what my future would be like. My job and future would be predictable to a certain extent. There would be this sense of familiarity that gave me comfort.

If I were to decide not to work for money but try to become an investor or a business owner, then my future would be unknown. There would be no predictability in the outcome of my investment or business. To reduce fear of unknown, I would focus on what I know to increase the odds of winning by identifying and managing the risks involved.

Next, there is a fear of losing friends. Friendship is usually founded on the basis that there are common views and thoughts regarding certain things. The moment there is a change in my views and thoughts, there is a tendency to be alienated by my friends. They may feel that I have changed and no longer similar to them. Slowly, I would lose my friends.

It would be sad to lose friends but sometime that would be evitable. But due to my change in thinking, I would have the chance of knowing more friends. That would be the only comforting way that I could think of to reduce my fear of losing friends.

Lastly, there is a fear of losing loved ones. If I were constantly learning from my mistakes, I would be growing at a much faster rate than my loved ones. As a result, there maybe conflicts due to difference in opinions and perspectives. Ultimately, the conflicts may lead to separation. To counter this fear of losing loved ones, I would always make it a point to communicate more with my loved ones so that we could grow at the same rate.

The above list of fears is by no means complete. I feel that this list will differ from person to person because everyone situation is different. Thus, I agreed with the Rich Dad’s Series by Robert Kiyosaki that different people pays different price to be rich and successful.