Vampires. They are immortal and many have been around for centuries.
So why aren’t they all billionaires?
Why have so many of them been stuck in the middle class for centuries?
You might be surprised that the answers are the same reasons that your ancestors didn’t set you up with to be a billionaire either.
Here are 4 reasons why most vampires aren’t billionaires (and probably never will be).
1. They are pleasure seekers. Instead of thinking about the future they are focused on maximizing their pleasure right now. They just can’t seem to delay gratification.
2. They can’t think for themselves. Vampires are basically bats and bats are swarm creatures. So when one decides to invest in something they all rush in. When a few start to panic they all sell. It's a herd mentality that they share with most mortals.
3. They don’t understand the power of compound interest. Most of us don’t understand it. If a vampire or your ancestor invested $100 at 10% interest in 1850, it would be worth over a billion dollars now.
4. They like outward displays of wealth. They want to be seen as superior, beautiful, and powerful. They are obsessed with buying the best clothes, the fanciest cars, and the best castles. When you’re obsessed with how others see you it’s very easy to fall prey to overspending and to sabotage your financial success. *cough* Instagram anyone?
Take the opportunity to change your family legacy right now. You children and great, great grandchildren will thank you!
Kenneth Coombs CFP CHS RRC
Ken has 13 years experience in the financial services industry, is a Registered Retirement Consultant and a Certified Financial Planner. Ken has written financial planning columns and has been a guest on financial radio and podcast programs.