Some people may have said to you “Money is the root of all evil” — but were they wealthy? How many people do you know, or know of, whose ultimate goal in life is to have more money, buy a vacation home, or retire on a healthy investment?
Sayings like the above are a great excuse for people who aren’t rich and haven’t got the faintest idea how to be rich. Because if they were wealthy, they’d have observed some of the unbeatable benefits of being rich — and we’ll explore just some of these below:
You Get More Freedom, Options, and Choices When You’re Wealthy
When you’ve got enough money in the bank, you can do what you want, when you want, which gives you an unbelievable amount of freedom. And this, in turn, provides you with plenty of options. If you wake up in the morning and decide you’re going to do something different today, you can go ahead and do it. You don’t have to think about how this choice is going to affect your bank balance.
Equally, with so many options available to you, it gives you much more choice in how you’re going to live your life. You can make a choice without worrying about whether it’s a mistake or not, because most millionaires will make some mistakes in their life. The difference between the ones who are still millionaires and the ones who aren’t is how they deal with their mistakes. Learning from a mistake will show you: the higher the risk, the bigger the reward.
You Can Build Foundations for Future Generations
There’s a saying: “The rich get richer, and the poor get poorer.” While this isn’t always the case, it does have some meaning for many rich aristocrats. You see, when you’re wealthy, you teach your kids what it’s like to be wealthy. You provide them with the right networks and relationships on which they can build their future. You’re giving them foundations that enable them to establish their own fortunes.
When you’ve got money, people come to you with the most prestigious opportunities, investments, and deals. And if one of your friends is offered a deal they don’t want to take, they’ll offer it to one of their connections — you. Teaching your kids how to take advantage of these openings gives them plenty of chance to build on your successes, perhaps even exceeding them.
You Will Live Longer
Research has always shown that rich people, on average, live longer than the poor. But newer reports suggest that, despite the advances in medicine, this gap is getting even larger. How long low-income and high-income Americans live for is becoming increasingly different, with the difference in life expectancy between the two doubling in recent years.
In the early 1970’s, a wealthy 60-year-old man could expect to live just over a year longer than his poorer counterpart. In 2001, this rose to nearly six years. But today, evidence suggests wealthier men could live as much as 14 years longer than lower earners, with rich women living nearly 13 years longer.
Where do these differences come from?
Because the figures all relate to people who are aged 60 or more, it’s unlikely to stem solely from the affordability of medical care, because most will have fallen under the Medicare scheme. Instead, it’s more likely related to the variations in diet, stress, and lifestyles. Because, as we have already seen, the rich can do what they want, when they want, and don’t have to stress about the implications their choices have on their finances.
You Have Access to Better Education
There’s another gap that’s getting wider between the rich and the poor, too, and this is to do with educational achievement. The difference between the achievements for children of the rich and poor has doubled over the past two generations, despite the fact that enrollment at colleges has increased from 6% to 8% in the lowest income quarter. That’s because in the highest income quarter, the college enrollment rate has increased from 40% to 73%.
This trend has been largely driven by how many hours of extracurricular activities the children in richer communities partake in. These additional activities include being coached in a sport, taken to a museum, or being read to, with the rich child having 6,000 more hours of these additional activities offered to them. This provides affluent children with greater all-around knowledge, more opportunities, and an increased chance of success.
You Can Stop Pretending to Be a Good Person
In a recent interview, Larry David said what most rich people have been thinking but haven’t dared to say — you don’t need to be a good person or be liked by anybody because you’re rich. David explains that when you get rich, you get a bunch of new friends, and even though these friends might be as self-centered as you, they still care.
For example, David describes how his friends will show concern when he starts dating someone new, questioning whether she’s just going out with him because he’s rich. But she is — and David knows this. “Why else would she go out with me?” he says. And that, he believes, is one of the benefits to being rich — no matter what you look like, you can forget about having to impress other people and you can stop trying to be a “good person.”
That’s because you’ve built up enough money to insulate yourself from the pressures associated with being good — you can be arrogant, obnoxious, cantankerous, disagreeable, or petulant, because you’ve earned the right.
As you can see, the advantages of being rich don’t just boil down to money, as it also has more fundamental bonuses — such as better opportunities and health. And one mustn’t forget, you’ll relieve the added extra pressure of trying to be a “nice” person just to get by in the world. You’ve bought the right to be you.