Want to be rich? This is the biggest factor that determines it

Perhaps you are from a poor background and are determined to break the cycle and become rich. If you haven’t given much thought to it before, your priority is to find the biggest factor that determines your desired outcome – riches. If you are like most people, you probably think it is education, or diligence. If you do, you are wrong. The biggest factor that determines whether you become rich or not is not either of those. It is the vocation you choose.

You might be offended that I said education is not the biggest factor. Note that I did not say education is not a factor. It is; the statistics show that education will give you a leg up in life. But I maintain that it isn’t the biggest factor in becoming rich. Let me give you an example.

University professors, space scientists, nuclear scientists, research scientists, and medical doctors are some of the most educated people on planet earth. How many billionaires or multi-millionaires exist among them? See? While they tend to live comfortable lives, their fields are not where you find a lot of people becoming rich.

It is simple, really: there are some vocations that make for wealth creation. There are others that do not, but which are more about service to humanity. The latter include: teaching, journalism, police work, search and rescue operators, and the like. If your goal is to make lots of money, these fields are not your best bet. In every country, no matter how well developed, those vocations do not yield wealth.

Don’t get me wrong: there is nothing wrong with choosing those vocations: they are essential services and are rewarding in other ways. But riches is not one of those. You can earn a decent income and live comfortably, working in any of those fields. You are just not likely to get rich in there.

And that is okay. Not everyone wants to get rich. Many other people find fulfilment in the work they do, and won’t trade it for anything else. There are millions of people who don’t have getting rich as a priority or goal. Even I am one of those. But if you are not like us, if your goal is to make a lot of money in life, choose a vocation that gives you better chances of achieving that goal.

It is much easier to get rich in banking and in other finance vocations. Or in digital technology. Or telecoms. Or construction. Or oil and gas (energy). The prospects of rising through the ranks and making lots of money are much higher in those fields.

If getting rich is super important to you, do get an education, be diligent, network, do all the other stuff the experts tell you to do, but above all, be sure to choose a vocation that is better given to wealth creation, or else all of those other factors won’t yield their best possible results for you. Your choice of vocation is the biggest factor that determines whether you become rich or not.

Lastly, let me point out the second biggest factor: understanding how money works – how to grow and manage money. If you don’t, it won’t matter how much money you make in any vocation; you will lose it all. And no, contrary to what you have been told, lost money doesn’t always come back.

I hope you give it serious thought. Understanding this and acting on it will save you needless pain from struggling to achieve your goal in life. You can buy me a PiƱa Colada some day.