 Seven hard things you may have to do if you want to be rich. Everyone wants to become rich, no doubt. But not everyone is ready to put in the work necessary to achieve that. According to author and coach Joyce Chapman, there's no way around doing the work it takes to get you there. Guess what? According to a 2018 Night Frank wealth report, only 1% of the world's population have fortunes of $15 million and above. According to Manor Arora, a best-selling author, to achieve what 1% of the world's population have, you must be willing to do what only 1% dare to do. While getting rich is as easy as following a laid-down principle, putting in the required work is necessary to achieve it. After all, little hard work never hurts anyone, says Mary Sage Newn. You see, anyone can become rich by learning and doing what the rich do. Self-made millionaire Steve Siabold, in his book How Rich People Think, said an I-quote, Like most things in life, becoming good at attracting money is no different than becoming good at anything else, be it being a subpar golfer, losing weight or mastering a second language. Hence, in this video, I'll share with you 7 hard things you may have to do if you want to become rich. This I believe will help you become a successful person. When you're here, consider subscribing so that you won't miss other interesting videos like this. 1. Diversify Your Income Diversifying your income means working more than one job to get you some extra cash. It could be starting side hustles, looking for online jobs, doing odd jobs in your neighborhood or starting a business of your own. The most important thing is to ensure that you do not rely strictly on one income stream, if you intend to get rich. The thing about diversifying means getting used to doing things that are not comfortable. For instance, if you are a 9-5 worker, taking up an extra job, which means more hours of work isn't going to be comfortable, especially in the beginning. It'll be rough. But guess what? You won't be thinking of the roughness when the extra money starts rolling in. The more money you can generate, the better your chances of increasing your savings and investment, which will eventually lead to financial freedom. Chris Lutz, a Filipino-American professional basketball player said and I quote, The purpose of diversification is so that when one investment goes down or is not doing so well, you are insulated from the result because of the others you have in place. In a job or career, most of us are trying to specialize so much so we would have ended up with all our eggs in the same basket. That's not managing risk at all. That's putting yourself at risk. 2. Invest in yourself What's the first thing that comes to mind when perhaps you become a beneficiary of a huge sum of money? Clothes? Shoes? Food? Luxury? Wrong answer. According to Rich Norton, the author of the number one Amazon download, resumes are dead and what to do about it. Very penny not spent on investing in yourself after basic needs of course may be a wasted future opportunity from missing, learns and connects. Investing in yourself is the chance you get to become a better version of yourself. When you become the better version of you, you are well able to provide value to the world and the more value you are to others, the more chances of making money and becoming rich. Albert Einstein once said, strive not to be successful but rather to be of value. Also according to Warren Buffett, price is what you pay and value is what you get. Self-investment means contributing time and energy in oneself and happiness. Its purpose is to motivate you and help you in your growth and development, giving you a sense of peace and understanding. For instance, reading different books and materials on certain subjects or attending conferences and seminars to get enlightened on certain subjects as well, are all part of self-investment. The aim is to grow and become better. 3. Gain mastery in your field To gain mastery means to have comprehensive knowledge or skill in a particular subject or activity. It means gaining superiority over something or someone. When you gain mastery in your field, it means that you have become an expert in your field and we all know what it means to become an expert or consultant in one's field, more money. However, it takes discipline, determination and devotion to achieve mastery in one's field. Morris Young, a leading activist and American rapper said and I quote, to become a master at any skill, it takes the total effort of your heart, mind and soul working together in tandem. Have you wondered how most of the great leaders achieve success and gain wealth? Well, Albert Einstein once said, only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason, mastery demands all of a person. To be rich, you have to become a master in your field, strive to become one of the top five in your field. 4. Be willing to take risks Taking risk is a part of life. Although it means stepping out of one's comfort zone, it is necessary to achieve success. Risk taken is the act of doing something that involves danger to achieve a goal. It is an essential part of living because if there is no risk, there is no reward. Neil Gaiman said and I quote, If you dare nothing, then when the day is over, nothing is all you will have gained. Of course, no one likes to take a risk because it is one of the difficult decisions to make when it comes to achieving success and becoming rich. However, always be reminded of Mark Twain's words, 20 years from now, you will be disappointed by the things you didn't do, then by the ones you did. So, throw off the bow lines, sail away from the safe harbor, catch the trade wings in your sails, explore, dream, discover. However, before making any decision on risk taken, ensure that you make a thorough research on the subject to minimize mistakes. 5. Start Saving Saving might be tough now, but it will pay off soon. One habit of the rich is learning how to save from all their streams of income. Rich people understand that they should be in control of their money, not the other way around. Hence, they learn to start saving from a young age, which eventually leads to their financial freedom. To say that you do not make enough money, hence you cannot save is one of the greatest forms of self-deceit. Francis Shenstone said, It is not how much you make each month that matters. It is how much you save along with the flexibility and time outside work that you have. Warren Buffett advises that a good way to improve your saving habits is do not save what is left after spending. Instead, spend what is left after saving. 6. Invest Why do you save? If you cannot provide an answer to why you save, you are likely going to end up spending whatever money you saved. So, the first thing to note about saving is always save with an intention. Next, if you want to be rich, your first purpose for saving should be for investment, not for the rainy days. T. Harve Ecker, an American author, said rich people play the money game to make more money, while poor people play the money game not to lose money. Add in that if you are saving your money for a rainy day, what are you going to get? Rainy days. Stop doing that. Instead of saving for a rainy day, focus on saving for a joyous day or for the day you win your financial freedom. Saving is good, but investing is better if you want to become rich. Robert G. Allen said, How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case. 7. Build your net worth, not your annual income Rich people focus on their net worth, not their present income. For instance, if a person earns $50 monthly and had a net worth of $500,000 and another individual earns $100,000 monthly but has a net worth of $200,000, who is richer? Rich people focus on building net worth by investing in assets instead of liabilities and unnecessary luxuries. To build good net worth, focus on all four of your net worth factors. Increasing your income, increasing your savings, increasing your investment returns, and decreasing your cost of living by simplifying your lifestyle. Good luck in your quest for riches. Thank you very much for watching our videos. We'll like to give you another interesting video for you to enjoy next, but before then, our team will be very happy if you can like this video and share it with your friends on social media. If you're new here, don't forget to subscribe so you won't miss other interesting videos like this. Look at your screen now to see two other videos we handpicked for you to enjoy next. We love you.