• Personal Taxes
  • Bookkeeping
  • Accounting
  • Payroll
  • Business Taxes

The Impact of The False Advice of The So Called Wealthy

Men Talking

What if I tell that the false information you receive about how the rich got rich is hindering your profits? Do you really believe the affluent want the people to know how they gained their wealth? As an accountant, I have watched people follow what they have read and heard only to realize it does not work, and it puts them deeper in debt. Why? Because the truth is most of the “wealthy” that are giving you advice are wealthy because you keep buying their bad advice.

When cultivating streams of income, the best advice I can give you is to stay in your field. Just because someone else is earning money does not mean it is what you should be doing.  Have you spent time and money in a current field? Perhaps you seek to change fields, but just throwing money around and only focusing on things that bring in a little money will hurt what you work on first. My field is accounting and tax but more so accounting and how to benefit from tax planning through accounting, but I must watch my tax services to make sure it just does not take over accounting. I want you to know just because something is earning income does not mean it is profitable. Anyone can earn money, but the question is, can you manage what you earn? How do you cultivate your products and services?

Do you really have time for your services, or do you hire people before you can afford them? Do you hire people to delegate because someone told you that is rich thinking and the poor try to do it all themselves? You have received the ability to earn wealth if you cultivate your talents and gifts. Stop trying to do something you are not called to do.  Stop trying to make money off someone else’s talents and gifts without giving them a proper share of the earnings. Hire people as you grow. There’s no shame in small beginnings, and anyone that tells you different will lead you astray.

I have found that the false advice causes me to be more stressed because most people don't reach the insane numbers the world calls wealthy without trading their souls.

Written by Y. Michelle Coard, B.A.S. A.A.S in Accounting

President and Owner of Business & Personal Accounting Solutions, Corp.

Seeking a less stressful way.

Are you thinking of starting a new business?  Get business training with Ask The Accountant Monthly Memberships.  A six month program to help you learn more about basic business as well as the accounting and tax processes that work best for your business.  Email for more information about Ask The Accountant.


Prefer to learn at your own pace?  Trying the online e-courses:


Email: for more information.






Copyright © 2020 BP Accounting Solutions. All Rights Reserved. Designed by NuCre8ion, Inc.