5 Wealth Secrets Rich People Won't Tell You About Risk-Taking
You can't spell "rich" without "risk" - are you still clinging to your paycheck while others build empires?
Hey there! Today I'm sharing some eye-opening insights I discovered from a fascinating interview that completely changed my perspective on wealth. Let me tell you, what successful people actually do is wildly different from the financial advice we usually hear.
Look, I used to believe that saving every penny and working hard at my job would eventually make me wealthy. But after spending years in the finance industry and studying people who've actually built serious wealth... well, I realized I had it all wrong. The rich think differently, act differently, and their secrets are actually simpler than you might expect.
What We'll Cover
1. Busting Money Myths: Why Rich People Aren't Evil
Since childhood, we've been programmed with the phrase "money is the root of all evil." But did you know this mindset might be the very thing holding you back from financial success? This is actually a misquoted biblical phrase – the original says "the love of money is the root of all evil," which has a completely different meaning.
"The most controversial take about money these days is that it's actually good if you have it. Having a lot of money typically means you've provided a ton of value to the world." - Codie Sanchez
I'll never forget working with a client last year who built a manufacturing business from nothing. For 25 years, he provided quality jobs to over 50 families in his community, yet constantly felt guilty about his wealth. When we calculated the total economic impact of his business – the jobs created, taxes paid, and community services supported – it was clear he had given back far more than he'd taken.
Building wealth usually means you're creating value for others. Sure, there are exceptions, but I've met very few wealthy self-made individuals who haven't improved other people's lives along their journey. And between us, the real villains rarely feel guilty about their actions anyway.
2. The Risk-Wealth Connection: "You Can't Get Rich Without Risk"
Here's a truth that shocked me when I first realized it: you can't spell "rich" without "risk." And that's not just clever wordplay – it's the fundamental principle that separates the wealthy from everyone else.
"I think it's risk that makes you money, not save that makes you money." - Codie Sanchez
This hit home for me about three years ago. I had saved diligently for years and had a comfortable emergency fund growing steadily at 2% in my "high-yield" savings account. Meanwhile, inflation was running at 4-5%. I was literally losing money by trying to play it safe.
What's interesting is that our generation is taking historically lower risks than previous ones. We're waiting longer to get married, start businesses, and make major life changes. This risk aversion extends to our finances too – we might start a small side hustle but avoid the bigger risks that lead to substantial wealth.
With wages growing at 3-4% annually while inflation often runs higher, playing it safe with your money means you're actually going backward. The "safe route" isn't actually safe at all.
3. Why Small Business Acquisition Is the Biggest Opportunity in 2025
If you're looking for the biggest wealth-building opportunity right now, it's hiding in plain sight: small business acquisition. This isn't some trendy crypto scheme or AI startup gamble – it's about buying existing, profitable businesses from retiring Baby Boomers.
Here's the shocking reality: over the next 5 years, approximately 11 million small businesses will be up for sale in the US alone. Even more surprising? Only about 1 in 10 of these businesses will actually sell within a year. That's a massive supply-demand imbalance creating incredible opportunities.
I witnessed this firsthand last month when my friend Adam bought the construction company where he'd worked for five years. The owner was retiring after 20 years of building a profitable business. The kicker? Adam is using the future profits of the business to pay for the business itself. He's essentially getting the benefit of the owner's 20 years of work without having to put down much money upfront.
How To Find Small Businesses To Buy
So how do you actually find these businesses? There are three main approaches:
- Use online marketplaces specifically for buying and selling small businesses (similar to how you'd use Zillow for real estate)
- Go directly to local business owners and start conversations about their future plans
- Leverage your existing network - often the best opportunities come from people you already know
The key to successful business acquisition isn't finding complex, trendy businesses. Instead, look for simple, profitable operations with a clear business model. As one investor puts it: "Complexity makes you look smart, simplicity makes you money."
4. The Billionaire Mindset: Curiosity and Speed
What if I told you that the biggest difference between the ultra-wealthy and everyone else isn't intelligence or connections, but something much simpler?
"The first thing I wish I knew when I was young about money is that other people who have it are no smarter than you, on average. What do they really have? They've taken more risk than you have, they've moved faster than you have, they've probably failed a little bit more frequently..." - Codie Sanchez
I once had the chance to attend a private dinner with several successful entrepreneurs (combined net worth over $500 million). What struck me wasn't their brilliance – though they were certainly smart – but two specific traits they all shared:
1. Insatiable Curiosity
The wealthiest person at the table barely spoke about himself at all. Instead, he asked questions – deep, thoughtful questions about our businesses, strategies, and observations. While everyone else was trying to impress him, he was extracting valuable information.
When the wealthy see someone with more success, they get curious, not jealous. They want to understand exactly how that person achieved their results. They're constantly gathering intelligence and learning from everyone around them.
2. Uncomfortable Speed
The second trait? They move fast – uncomfortably fast. One entrepreneur mentioned that the key to MrBeast's success wasn't just creativity but his relentless pace: "He moves so fast it's uncomfortable... everything is now, now, now."
This isn't about being reckless – it's about recognizing opportunities and acting decisively while others are still analyzing and overthinking. The wealthy understand that speed is a competitive advantage that compounds over time.
The faster you move, the bigger your bank account becomes. This might be the single most important wealth principle I've ever learned.
5. Actionable Steps You Can Take Today
So what can you actually do with these insights? Here are five concrete steps you can take starting today:
- Audit your risk profile: Are you playing too small? Look at your investments, career decisions, and business moves. Rate each on a risk scale of 1-10. If everything is below a 5, you're probably being too conservative.
- Increase your "shots on goal": Success is partly a numbers game. Commit to making more moves, pitches, and attempts. Even if your success rate stays the same, more attempts means more wins.
- Start conversations with local business owners: Next time you visit your favorite local business, ask the owner how long they've been running it and if they have succession plans. You'll be surprised how many are thinking about retirement.
- Practice selective ignorance: Stop consuming general financial advice and start learning directly from people who have what you want. Find mentors, join mastermind groups, or even just read biographies of successful people in your field.
- Set a "speed standard": For the next month, commit to responding to every opportunity within 24 hours and making decisions in half the time you normally would. This simple shift can dramatically change your results.
Final Thoughts
Building wealth isn't about some secret investment strategy or having special connections – it's about adopting a different mindset around risk, speed, and opportunity. The good news is that these are all skills you can develop starting today.
Remember, you don't need to be the smartest person in the room to succeed. You just need to be willing to take calculated risks, move quickly, and learn from failures. As I've seen repeatedly, this approach is worth far more than any fancy degree or inheritance.
What risk have you been putting off that you know could change everything? Maybe it's time to take that first step.
Source: This article was inspired by insights from Codie Sanchez's interview on the Iced Coffee Podcast with Graham Stephan, discussing wealth building, risk-taking, and small business acquisition. Some quotes have been lightly edited for clarity.