Is It Really Just Luck? — The Truth About Wealth

Picture this: you’re at your 8000 square foot home with your wife, relaxing after a long day. You’re just about to sleep, with the time being 11:00 pm, meaning that you’d have around 8 hours of sleep.

Your bank account is substantially doing well and you do not have many worries about your possession of money. It’s going to be a good night.

It’s the ideal life, right? Everyone pictures this when they dream of riches or wealth, yet for some reason, they also picture just “how lucky” one has to be to attain this life. Maybe they won the lottery or had the right things happen at the right time? Whether or not that’s the case, there are definitely more truths to wealth than “just luck“.

However, before I can even delve into these truths, I must first define wealth in this scenario.


The word itself is appealing to many, and I even made the word a green color simply because the common person associates it with money. But to have a lot of money would be to be rich, not wealthy. The two words are similar but do not in fact mean the same thing.

Wealth is professionally known as the total of assets that you own that give you some sort of financial security. Wealth is a combination of money and assets of value that produce money. In fact, some have argued that wealth is also having time to do what you love without the burden of a job taking it up.

The word ‘assets’ is thrown into the definition, and yes, it can be an intimidating word. Still, it is extremely important to know this word. Assets, not to be confused with liabilities, end up collecting value of some sort or making you money without you having to directly work on it all the time.

If you understood assets, then you would also know that liabilities don’t make you any money and sometimes even lose value. Below are examples:

This phone is a nice example of liability, don’t buy a new phone unless your current one functions like a potato.


  • A debt of any kind
  • Taxes
  • Vehicles
  • Phones
    • Anything that loses value over time


  • Stocks
  • Investments
  • Real estate properties, including a house of your own
  • Company-owned vehicles
  • Inventory – or items a company sells for profit

Now that you know what wealth is, you might be thinking,” This is cool and all, but how does one attain wealth?” I have been researching this for the last 6 months, studying books on the topic, and studying how my father worked to build his wealth.

I’m pretty much going to use this post to share what I have found and just maybe, you’ll benefit from it and build wealth throughout your life.

Sensible Spending

If we’re going to talk about anything to do with wealth, we first need to highlight one really important factor: nothing is free.

If you want to make large amounts of money and build wealth to cement your future, you’re going to have to give something in return. This literally can include giving up some of your time, social life, money, mental wellbeing, etc. Think of this as an investment of its own.

Money itself is an outstanding asset for building wealth, depending on how it’s used. With that in mind, one is going to need money to build more and more wealth. Sure the first step in beginning your journey to wealth might not be money, but at some point, you’re going to need this capital to further yourself in the direction of financial freedom.

Some might claim that in order to get a little bit more of this needed capital, one should “just work more hours or work harder”. By working more hours, you are trading your time for money.

Sure, time itself is an important sacrifice, but the idea behind wealth is that you keep getting more and more cash as your assets make you more. Losing time for a fixed amount of cash is definitely not worth it considering that the time lost in your job can be used in research or building these assets.

In order to build these assets, you’re going to need to sensibly spend not only your money but your time as well. You can essentially keep the same job you have currently, but on a strict spending diet.

Buy only what you can afford, and never buy anything on credit. I’m going to say that again. Never buy anything on credit. You’re going to be hit with an interest rate that will leave you losing money. Wisely spend your money.

What I mean by this is that you would then ideally spend some of your free time allocated towards building these assets [what some like to call a ‘side hustle’] or doing research and obtaining the necessary knowledge needed. This is talked about more in detail in the sections below.

There are really people out there that would buy an expensive Oreo just to eat it. Items as useless as this can be lived without, at least for now.

Sensibly spending your capital will allow you to start small, but build money that you can then use on this goal of wealth. This can literally be done by living a simplistic lifestyle.

You really do not have to buy that new iPhone every year.

You really don’t need a nice Mercedes-Benz because for the time being, your Civic does all you need.

You seriously don’t need to spend money on exclusive brand clothing to impress people that only value your possessions.

You don’t need that monthly subscription to that service you can live without.

You don’t need to eat out multiple times a week when you’ve got food at home.

All of those things that you can live without, you don’t need. At all.

You don’t even have to live your whole life this way, but at least wait until you’re wealthy and can actually afford these luxury and personal enjoyment-based items. By living below the standard, you conserve money that you can potentially allocate to make you even more money.

Source: Entrepreneur Quest

A perfect example of this lifestyle would be the 50-40-10 rule, which I learned about in the book The Intelligent Investor. What this rule pretty much says is that:

  • 50% of your money should be put towards your needs, being expenses and things you are unable to live without.
  • The next 40% would be put towards savings, investment, and building your wealth. This can include emergency saving funds, educating yourself, stocks and funds, real estate properties, and/or your business.
  • The final 10% would be allocated towards wants. This includes eating out at restaurants, sources of entertainment, vacations, luxury-based items, electronics, and anything that you would put your money towards for your own desire.

By living using a spending restriction similar to this, you can gradually build up the money you need to build your wealth, all while fairly satisfying your wants and needs.

I’ll give an example with my own father.

When we first came to the US for my father’s medical studies and residency, we lived in a 3 bedroom apartment. Of course, it was cramped but we had to live with it. The only car we had was a Toyota Sienna to fit the family.

Later, my dad leased another convertible of his own so that he would be able to drive to his job. After years of jumping between 1-story houses in different states to follow my dad’s places of study, my dad finally finished his residency as a Pulmonary and Critical Care physician.

We were able to move to California where we lived in a house for 1 year of rent. It was after this year that we bought a fairly nice house, which we currently live in.

The main idea here is that we first started in a 3-bedroom apartment. By putting up with it, saving capital, and being patient, my father built up the wealth needed to purchase the house we have now.

Only through my father’s saving and patience was he able to start his own profitable medical practice, independent of other people.

Had my father not sensibly spent his time to build his independent practice, he would still be working under someone else’s business, being underpaid and significantly less wealthy.

Only by sensibly spending money and time can wealth be built.

Knowledge and Mindset is Everything

The difference between seemingly being rich [probably by receiving more money than usual] and being a wealthy individual is that one teaches you a mindset and the knowledge you need to retain that money, and maybe even grow it.

The journey towards wealth versus richness is much more long-term, and thus ends up teaching the necessary mindset and knowledge needed to maintain it. Money can be blown much faster than you think, compared to how long it may have taken to obtain it.

Without that elevated knowledge and state of mind after receiving this influx of money [whether it’s through a raise at your job or inheritance money from your grandpa], you’ll likely go back to your normal average way of living sooner or later.

The ideal knowledge that I’m talking about here is the information that will help you on your journey to wealth.

I say this because knowledge is variable. You could search up “how to get a significant other” and call that obtaining knowledge. In this case, I’m talking about information that will further your journey to wealth.

“There is no greater wealth than wisdom, no greater poverty than ignorance; no greater heritage than culture and no greater support than consultation.

– Ali, the son of Abi Talib

Whether it’s learning to do stocks or learning real estate investing, gaining knowledge of this nature will surely further your success. In fact, almost anything is available on the internet if you use it correctly so take advantage of that.

On top of that, building assets is not always easy and might even take a while. As I mentioned earlier, assets are a necessary component of wealth. One way or another, you’re going to need assets for wealth.

With the given varying difficulty of building assets, it should then also be a given that a strong mindset must be developed in order to reach the goal of financial freedom.

I was reading Think and Grow Rich, and I think that Napoleon Hill, the author, did a fantastic job throughout the book on furthering this point.

He lists some of the greatest aspects of mindset:

  • Desire – without a strong sense of desire, your mind will subconsciously be more willing to quit

  • Faith – if there’s no faith, then you’ll end up thinking whatever it is that you want is impossible to achieve

  • Influencing your subconscious mind – if you develop the right habits and the strongest of desire and faith, you’ll begin acting subconsciously in the right direction towards wealth

  • Detailed knowledge – this goes back to the idea of trying to learn the right information in terms of obtaining assets and wealth

  • Imagination – this is especially handy when it comes to building something new, like a business

  • Planning – when you come up with a plan, small or large, you make your goal more and more possible

  • Decision – taking the step forward by making a firm decision is where most falter, but once you do this, it becomes that much harder for you to stop

  • Persistence – despite the inevitable hardships along your way, your ability to continuously keep trying will lift you to success

  • Countering fear – when you learn to tune out the fears you have, whether it’s criticism from loved ones or fear of failing, you will become unstoppable on this path to wealth

I strongly believe that this step [the focus on knowledge and mindset] is the hardest out of all these steps. It requires the most work and narrows down the people that really want wealth.

Success in this step greatly furthers you towards your ideal financial status.

Now It’s Time for Assets

Now that you’ve done all of the previous steps mentioned above, you’ll need to put it all into motion. You can do that by obtaining assets.

This field welcomes, and almost encourages, imagination and creativity. This is because some unheard-of assets can be created to add to someone’s list of other assets.

I’ll give you an example.

If you live in an area where there is a huge shopping mall and you know that a lot of people visit it daily, you could then buy vending machines and place them in various parts of the mall.

A vending machine like this would literally go for around $3000. Regardless of that, you’ll probably make your money back with the right calculations.

This is of course after you discuss the idea with the property owners and agree on a rent amount. Despite the rent you pay, you would ideally want to use the money you make from the vending machines to pay the rent and keep the rest as profit.

Eventually, you could find other properties to add more vending machines and thus expand your business. It might not be as easy as I made it sound, but through patience, it can work out.

Boom! Just like that you’ve got assets in multiple properties making you money.

You could also start a business of your own desire, and the assets within it, such as what you’re selling, would also make you money. The list is endless.

Some common assets that I recommend include:

  • Stocks/Funds – This is essentially owning part of a company, categorized by long-term and short-term trading. The average investor chooses long-term investing as it is less risky. When the share price of the stock appreciates above the value it was bought for, the value of the account increases, making you money of some sort.

If you think about it, all those times you’ve played Monopoly, you’ve dealt with make-believe assets. When you buy a house or hotel and you make money, it’s pretty much real estate on a much, much smaller scale.
  • Investment Properties [Real Estate] Whether this is buying your own house or a house to rent to other tenants, owning a property is a great investment as most properties appreciate in value over time. Combine this with charging rent and substantial profit can be made.

  • Real Estate Investment Trusts (REITs) – Because not everyone can afford to buy a whole other property to rent to tenants, REITs are available as a collection of money pooled from a number of investors to be put into real estate projects. Although profit here is less, it is still a great asset.

  • Retirement Savings Account – Retirement accounts such as a Roth IRA, allow for a fixed amount of money to be put in, invested, and withdrawn at retirement without being taxed. Although the different retirement accounts out there differ, they are usually a great asset.

The list goes on about the vastly different types of assets. Although I gave some examples, it’s all up to you to decide which ones you believe are the best to use.

Through all these different steps, wealth can and will eventually be attained if done properly.

So you see, it’s not always just luck. It’s just that some people do not desire wealth enough or are not willing to endure and think outside the box.

Yes, there may be exceptions, but if you live your whole life hoping to be an exception, you won’t get anywhere past where you are now.

You’ve taken a significant step towards attaining wealth simply by reading this post and learning from it. I must also say that this is not financial advice and that you are still responsible for what you choose to do. I say this for legal reasons but you get the point.

There are still plenty of more steps ahead of you, and with that being said, I wish you the best on your path to wealth.

You’ve reached the end of this post, hopefully you got something from it!

If you seriously like this post and want more posts like this that keep it real with you, then join the society by subscribing below. You’ll only be emailed when we post, and if it bugs you, you can unsubscribe at any time.

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About the Author

M. Thaaer Alrajab, who is a high school senior, is the founder of Truthful Society and the host of the Truthful Society podcast. He uses his passion for writing and content creation within his website and podcast.

In 2019, he started his first website, The Political Times. After he finally began to grow, he realized that his audience wanted a different type of content. This led to the creation of Truthful Society.


Graham, B. (2006). The intelligent investor. Harper.

HILL, N. A. P. O. L. E. O. N. (2020). Think And Grow Rich. THE Book STOP.

He, S. (2020). Real estate investing quickstart guide: the simplified beginner’s guide to successfully securing financing, closing your first deal, and building wealth through real estate. Amazon.

Ramsey Solutions. (2021, June 17). How Do You Define Wealth? Ramsey Solutions.

What is an Asset? What is a Liability? Digit. (n.d.).

Better Money Habits. (2021, May 5). How to Save Money – 8 Simple Ways to Start Saving Money. Better Money Habits.

What is 50 / 40 / 10 rule, how to use it and is the rule is good for you? The 50/40/10 rule budget is a simple way to budget that doesn’t involve detailed budgeting categories. Instead, you spend 50% of your after-tax pay on needs, 40% on wants, and – The Intelligent Investor. (n.d.).

Bailey, Y. (2020, December 14). It Starts with You: 4 Ways to Develop a Wealth Mindset & Become Financially Wealthy – WealthFit.


Posted September 15, 2020 by N. M. (2021, March 1). The 9 Best Income Producing Assets to Grow Your Wealth. Of Dollars And Data.

11 Replies to “Is It Really Just Luck? — The Truth About Wealth”

  1. Whoa, what a comprehensive piece, and you’re still in high school? You’re going to kill it in the writing industry. Thanks for this valuable article and wishing you all the best on your journey!

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