8 Insights Only the Self-Made Super Wealthy Understand
From the Dinar Recaps Archives originally posted on 6/3/2019
Billionaire Ken Fisher Shares 8 Insights Only the Self-Made Super Wealthy Understand
Wonder what it's really like to strike it rich? Billionaire Ken Fisher explains the perspectives of the self-made wealthy.
BY KEVIN DAUM Inc. 500 entrepreneur and best-selling author@KevinJDaum
Not all entrepreneurs are in it for the money, but gaining wealth is certainly among the top motivators for company building. Not surprisingly, having great wealth brings it's own unique responsibilities and circumstances that few get to experience first hand.
I recently had the privilege of interviewing billionaire Ken Fisher, founder, chairman, and CEO of Fisher Investments, best-selling author, Forbes magazine columnist, and No. 225 on the Forbes 400.
Fisher provided a candid, no-holds-barred look at the perspective of the self-made super wealthy.
Here are his insights.
1. It isn't pursuit of wealth, but pursuit of passion that creates wealth.
Focusing on money won't likely get you to the Forbes list like Fisher. He aptly states: "Most people don't get super wealthy by accumulating money. They get super wealthy by following some dream they are passionate about, whether its starting and running a business, or being a rock star musician or a visual entertainer."
He points out that most of the super wealthy overshoot their personal goals, and yet they are still driven by their passion. The super wealthy know that if you pursue your passion, the money will come.
2. After a certain monetary threshold, the desire isn't for more wealth, but more time.
There is very little that the super wealthy cannot buy. As the wealth keeps accumulating, spending becomes less of a joy or ambition. "After a certain point," Fisher explains, "there isn't much more you can think of that you want."
What becomes more desirable is time to enjoy life. "The vacation homes, cars, boats, and wardrobes are just more stuff to deal with." Fisher observes. "All that stuff clutters your time usage, so at a certain point, the wealthier you get the more you covet time."
3. Everyone you've known forever (except your spouse) will think you've changed.
There is a common belief that wealth changes everyone, and not always for the better. Fisher says, "Only you will know that you haven't changed; that passionate drive to follow dreams does not change."
Fisher explains it this way: "Everyone's perceptions of change are as though they are seeing the clock at a few different hour points in your evolution, as opposed to seeing it as a continuous sweeping minute hand that doesn't change."
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