70% of the people you meet in life are pessimistic and only 30% are optimistic.
There are many ingredients that go into homemade millionaire stew. According to my Rich Habits research, optimism is one of the necessary ingredients.
This also features a high risk tolerance, which is just possible if you happen to imagine in yourself.
Your risk tolerance will due to this fact only be as great as your optimism.
It’s like a seesaw. Your level of optimism determines how much risk you might be willing to take.
Elon Musk is maybe the very best modern example of somebody transformed by his unbridled optimism.
Musk has literally put the whole lot on the road, a whopping $188 million, on two of his most famous ventures: SpaceX and Tesla Motors.
At the tip of 2008, Musk was on the verge of complete bankruptcy.
Tesla Motors had not yet made a profit and was wasting money every month, its own money.
His SpaceX Falcon 1 rocket failed to achieve orbit for the third time in early August 2008.
He had spent most of his $188 million from the sale of eBay, and had also taken advantage of the vast majority of the tons of of tens of millions of dollars of enterprise capitalists and the federal government that had invested or loaned him.
Everything relied on that fourth flight on September 28, 2008. If he fails, Musk could be bankrupt.
Only it didn’t fail.
The first privately built rocket in history reached orbit.
After this historic achievement, Musk managed to cobble together enough money to see him through to the tip of December 2008, and on December 28, 2008, NASA awarded SpaceX a $1.6 billion contract.
The rest, as they are saying, is history.
In 2020, Musk’s price was estimated at $160 billion. Imagine that. In just twelve years, his fortune went from near bankruptcy to value $160 billion.
What made the whole lot possible was optimism.
Musk and everybody around him were infected by his optimism. Therefore, they were all willing to devote their lives and money to his cause. Musk made them imagine they may change the world and turn into very wealthy due to it.
The greater your optimism, the greater your risk tolerance. Those who’re essentially the most optimistic are willing to take essentially the most risk, and those that take essentially the most risks accumulate essentially the most wealth.
