Financial Pitfalls That Will Keep You Poor in 2026

✎ Get free access to our vault of PDF summaries for every YouTube video here: https://believe.evancarmichael.com/the-vault ✎ Check out my NEWEST video: https://goo.gl/E0eE6m ✎ To get more details on all the research and studies mentioned in this video check out the articles below: https://www.raffleresults.com.au/blog/winners-who-lost-it-all-stories-lessons https://www.newtrading.io/is-day-trading-profitable/ https://jamesclear.com/delayed-gratification https://www.theplayerscompany.co/blog/how-many-athletes-go-broke/ https://www.mentorink.com/blog/mentoring-statistics/ https://www.forbes.com/sites/melissahouston/2020/12/22/how-this-cash-collector-turns-outdated-accounts-into-cash-quickly/ ✎ Most people stay broke because of bad habits, not just the economy. It is easy to think money is the answer, but 70 percent of lottery winners like Jack Whittaker lose it all in a few years. If you do not fix how you think about money, it will always vanish. When starting a first company and making only 300 dollars a month, the feeling of failure can be very strong. Bill Gates built a massive software company by having a plan and a model. You have to take responsibility and look in the mirror to see what is holding you back from winning. ✎ There are many traps that keep you poor, like the get-rich-quick illusion. Over 97 percent of day traders lose money because they want a shortcut instead of doing the work. Another trap is lifestyle inflation where you spend money to look rich instead of building wealth. Ronald Wayne sold his part of Apple for only 800 dollars because he was afraid of debt, but Steve Jobs and Steve Wozniak turned it into a huge success. Even the best leaders like Mark Zuckerberg and Warren Buffett ask for help. If you try to do everything yourself or refuse to learn from others, you will stay stuck. ✎ Building real wealth takes financial education and long-term thinking. Robert Kiyosaki went from living in a car to being a millionaire by focusing on assets instead of liabilities. Most businesses fail because they do not manage their cash flow or numbers. You must also have the grit to stay in the game like Colonel Sanders. He heard over one thousand rejections before anyone said yes to his chicken recipe. If you quit too soon, you might be only three feet from the gold. Success comes to those who keep learning and refuse to give up on their mission. ★ BOOKS ★ • Momentum: https://amzn.to/3kJZIAv • Build to Serve: https://amzn.to/3XZiCSg • Your One Word: https://amzn.to/3R9qVII • The Top 10 Rules for Success: https://amzn.to/3JcNZVe • 254 Confidence: https://amzn.to/3jdh9c2 ★ RECOMMENDED VIDEOS FOR YOU ★ If you liked this video, you'll love these ones: • Don’t Quit! You’re Closer to Success Than You Think | The Stan Lee Story - https://youtu.be/bVeznGSNirQ • Friluftsliv: The Norwegian Life Hack that Just Might Change You Forever! - https://youtu.be/T_-OM47fU8Y • Phil Knight Borrowed $50 From His Dad (And Changed The World) | The Nike Story - https://youtu.be/EGdNDw-_pbA ⚑ SUBSCRIBE TO MY CHANNEL ⚑ If you want to do great things you need to have a great environment. Create one by subbing and watching daily. http://www.youtube.com/subscription_center?add_user=Modelingthemasters ツ CONNECT WITH ME ツ Leave a comment on this video and it'll get a response. Or you can connect with me on different social platforms too: • My Live Calendar: http://evancarmichael.live/ • Instagram: https://www.instagram.com/evancarmichael/ • Tiktok: https://www.tiktok.com/@evancarmichael • Discord: http://evancarmichael.biz • Twitter: https://twitter.com/evancarmichael • Linkedin: https://www.linkedin.com/in/evancarmichael/ • Facebook: https://www.facebook.com/EvanCarmichaelcom • Website: http://www.evancarmichael.com ----------------------------------------------------------------------------- Thank you for watching - I really appr Learn more about your ad choices. Visit megaphone.fm/adchoices