The Wealthy Create Luck

Roshawn Watson

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Have you ever met someone who seemed to have the Midas touch? Even when faced against extraordinary odds, they always seem to end up ahead. I definitely know people where literally everything they touch seems to turn to gold. It would be convenient to argue that some people are just luckier than the rest of us. To a certain extent, certain individuals do appear to have some degree of favor. By favor, I am referring to the Hebrew word ratson, which means these individuals have an added degree of goodwill and acceptance from their superiors (Vines Concise Dictionary, 1998). Some wonder how certain people obtain such favor. Real estate mogul and billionaire Donald Trump makes a revealing observation in the following clip.

http://www.youtube.com/get_player

We sometimes characterize others’ successes as mainly the result of luck. This may bring comfort but not meaningful change or wealth. For example, if I suggest that Warren Buffett (Berkshire) is wealthy because he makes lucky stock picks, then there is little I can learn from him. That’s because he had nothing to do with his success; he’s just lucky. However, if I recognize that he has a very highly developed skill set that allows him to appropriately valuate companies to choose the correct stock, then I can learn from his wisdom. Few want to admit that they do not have or know what it takes to succeed; however, this lack of admission is extremely dangerous because it is difficult to correct a problem that we do not have.

What we refuse to confront, we cannot change .

Obviously, this is why 12-step programs begin with admission. If we refuse to recognize the efforts (not luck) and mindset of successful individuals, we will remain comfortable with our own failure and mediocrity.

Up until this point, I have been discussing developing skill sets, learning the correct tools, and doing specific actions to create success. In Forget Looking Rich…Be Rich and Creating Phenomenal Wealth Over Time, we discuss delaying gratification and investing over time. These are important, but often our greatest obstacles to success and wealth are our minds. Consider an interesting observation by T. Harv Eker, author of Secrets of the Millionaire Mind.

http://www.youtube.com/get_player

Now to illustrate T. Harv Eker’s observations, consider a recent publication detailing an experience of Jason Zweig, a senior writer for Money Magazine (CNN).

“One afternoon on his way to lunch, New Yorker Zweig found a roll of bills on the sidewalk that totaled $300. He subsequently picked up the restaurant check for his office mates, took his girlfriend out to dinner, and splurged on some books, music, and a few classy ties. When all was said and done, he’d blown $430 — or $130 more than his lucky strike. Researchers have found that an unexpected windfall makes (some) people more eager to spend than an expected one, as Zweig discovered.”

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Copyright 2007, Roshawn Watson, Pharm.D. All Rights Reserved.