Disclaimer: The Eqbal Ahmad Centre for Public Education (EACPE) encourages critical and independent thinking and believes in a free expression of one’s opinion. However, the views expressed in contributed articles are solely those of their respective authors and do not necessarily reflect the position or policy of the EACPE.
Gambling is a globally recognized addiction that has destroyed millions of homes, businesses and individuals; unfortunately, the house always wins, no matter where and how you play.
The link between crime and gambling is a well-established one.
In short, gambling is a global phenomenon and it does not make people rich. But this is not the answer to my question, this is just the contextual information that I have laid down.
My question is very clear: do the rich gamble?
I have researched the ultra-rich for a few years in order to discover their traits, habits and characteristics as well as their thoughts, beliefs and behaviors. As a result of summarizing and analyzing the research data, I have published a number of books detailing the logical consequences of my research.
If the rich did gamble recklessly on a frequent basis, how long would they remain rich for?
The media-manufactured myths about the rich are extraordinarily damaging to the finances and health of the average people. Why? The reason is simple: the bottom 99 percent like to copy the rich and the successful. So when Hollywood spreads the lie that the rich drink, gamble, fornicate and take drugs, unfortunately, the common people attempt to act out these negative behaviors even more rigorously than if they had not been told these lies. And yes this carefully constructed myth about rich people is exactly that: a complete fabrication and lie.
I researched the wealthy and found the media-manufactured narrative to be objectively and demonstrably false: the rich do not engage in ”horrible habits” at all.
If the rich did gamble recklessly on a frequent basis, how long would they remain rich for?
The rich have certain habits that help them become successful.
Most self-made millionaires calculate budgets for a simple grocery shopping trip-you think they spend millions in a casino and throw money on hookers and liquor? These two were condemned by the self-made American billionaire Warren Buffett, who warned people of the dangers posed the three, liquor, ladies and leverage.
Accountants are aware that tiny expenses, if not quickly controlled, can result in massive losses over the long-term. Imagine, making massive losses over the short-term deliberately and then being intoxicated the whole time too!
The media is a total enemy of truth when it comes to rich people.
No one becomes rich by throwing money around, becoming a drug-addict and chasing skirt all day.
And what exactly are the chances of winning the lottery?
For the purposes of our study, the real chance of winning the lottery is zero; you will never become rich from the lottery.
If the rich did not become financially successful with gambling, how did they become millionaires and billionaires?
They did it through certain habits; I discovered that the rich have the following habits:
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Frugality: spending less than what you earn; paying the least money for the most important necessity either a product or service but of the highest quality for that price; making a budget and sticking to it.
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Rationality: making logical decisions, based on evidence and reason not emotion or irrational principles.
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Reading: for self-improvement, personal finance and skill-upgrade.
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Daily Goal Setting: writing them with pen on paper; helps you remember all your important priorities in order of value i.e. the most important task to be completed is to be written first and then the next and so on.
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Time-Management: wasting zero seconds on low-value tasks; completing the important tasks with efficiency.
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Hard Work: this means focusing your physical and mental energy on tasks with determination for a long-period of time.
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Skill-Improvement: improving specific skills unique to your profession i.e. accounting for accountants; medicine for doctors and physics for physicists etc.
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Healthy Relationships or ‘Power-Networks’: these people are connected to your long-term goal and can help move ahead quickly because of their influence and connections.
The daily practice of these ‘rich-habits’ requires enormous financial discipline and daily sacrifice; however, the pain is worth the reward.
In summary, the rich do not gamble and anyone who does becomes poorer. Furthermore, the rich have certain habits that help them become successful such as frugality, rationality, reading, daily goal setting, time-management, hard-work, skill improvement and power-networks.
A contributed article by Zalghi Khan
