When you think about wealth, you can't avoid dealing with some of the myths surrounding it. These myths are about what it means to be rich. One thing up front: even though some myths may have a kernel of truth, at the end of the day they remain half-truths. Here is a short overview of some of the biggest myths about wealth.

1. The first myth: wealth is always inherited

This claim holds true in only a few cases. The reason it nevertheless has such pull, sometimes making it seem as if wealth were always inborn, is that those are very extreme cases. This claim really belongs in the same category as the idea that a fortune can only come from an inheritance. Because if you look at it soberly, you'll find that the clear majority of today's rich people started out as ordinary earners and built their fortune through hard work. Of course it's true that your network, your contacts and, naturally, a bit of luck are very important if you want to become truly rich. But it's simply wrong that you have to be born into a rich family to be rich. Drive and ambition can just as well make you a millionaire (one day).

2. The second myth: wealth shields you from everyday problems

At first glance, this myth doesn't seem far-fetched at all. And it isn't. Being rich means people don't have to worry much about travel, food or housekeeping. But does wealth bring nothing but happiness? No, there are fake friends, meaning those who are only after the money. So you have to distinguish who your real friends are and who is only out to pick your pocket or to share in the exclusive lifestyle. Another risk, of course, is being blackmailed or robbed, not only on vacation but also at home. Another aspect is certainly the pressure that society or friends put on people who have wealth. Being rich, as is well known, also comes with obligations and can breed envy.

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3. The third myth: wealth makes you happy
This may be the most controversial myth, but it's actually quite obvious that wealth doesn't make you happy. That's not just a subjective impression; scientists have actually confirmed it. Researchers found that once you reach a certain magic threshold, a higher income doesn't make you any happier. Is being rich really what people should strive for? Rich in money, or perhaps rather rich in happiness? So why are so many people out to get rich? It comes down to a crucial mix-up of cause and effect. It isn't money that creates happiness; it's the person who is happy who becomes successful.