What is the Price of Change?

Source: Guide to Becoming Rich by Robert Kiyosaki

“The definition of insanity is to keep doing the same thing

and expecting things to change”

When I take on the subject of good debt and bad debt I often hear questions like the following:

1.        But what if the market crashes?

2.        But what if I make a mistake?

3.        But what if I can not pay off the debt?

4.        But what if I am not interested in real estate?

5.        But how can I afford to buy real estate when prices are so high where I live?

6.        But isn’t all debt risky?

7.        Isn’t it better to be debt free?

These are all legitimate questions based on real-world concerns and are not to be taken lightly.  I heard one well known investor say, “Treat all investments as bad investments.”  But you may also notice what the noted investor did not say, “Your concerns are valid so don’t do anything.”  Yet for millions of people, these fears paralyze them and cause them to do nothing.  It is the fear of the unknown that often causes people not to change.

Look one more time at the statistics from the U.S. Department of Health, Education and Welfare.

At age 65:

1% was wealthy

4% were well off

5% were still working because they had to

54% were living on family or government support

36% were dead

It seems apparent to me that one of the reasons why only 1 out of 100 achieved great wealth is because most were not able to change when they needed to change.  They kept on doing the same thing.  I am sure many wanted to change but were paralyzed instead by fears and doubts such as, “But what if the market crashes?” or “But what if I make a mistake?” Or, “But what if I cannot pay off the debt?”  In other words, many people cannot change because they become prisoners of their own doubts and fears.  Their doubts and fears force them to keep doing the same old things, hoping things will change, which is the popular definition of insanity.

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