After having received lessens 1 through 6, (see links below if you haven't read them), this chapter identifies the reasons whu people who have received the knowledge in these lessons, still often fo not act on them.
The 5 obstacles which we have to conquer are:
Fear
Cynicism
Laziness
Bad Habits
Arrogance
These 5 reasons are fleshed out, and all of them in some degree ring true.
Fear
I am frighthened by the idea of buying a house, with the idea of renovating and selling it, just like I would be terrfied at the tought of quiting my job, in order to join a company as a salesman, to learn how to sell. Many of the concepts in this book are scary.
I do not remember where I hear it, but the following quote is probably true: "ALL the things in life that are worth doing require more courage than we actually have".
Cynicism,
Less so in my case, but I do admit to seeing all the ways something could go wrong when I look an a possible venture. I can paint a long line of disasters which might befall a person doing something as simple as try to go to a restaurant they haven't eaten yet.
Laziness,
Obvious one
Bad habits
This only focussed on bad financial habits. Spending on credit cards, not saving, confusing assets and liabilities,...
Arrogance.
The inability of accepting information which you do not immediatley reasonate with, or which comes from a people you feel are beneath you. Truth is truth, regardless where it comes from.
All of there reasons are probably present in all of us, but thrick is to overcome them.
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