Reason Seven: Lack of desire as a result of a poor attitude to acquiring wealth. Bad mental attitude has caused more personal problems than any thing else. What we expect to happen usually does. Successful people are optimists while unsuccessful people have a pessimistic attitude . Block out negative thoughts and stereotypes and mix with successful, positive people.

Reason Eight: Inadequate protection against unforeseen events. It may be loss of a home due to natural disaster or death or disablement of bread winner. Adequate protection (insurance) against these events is vital to financial success. Not being properly covered has financially wiped out many potentially successful people.

Reason Nine: Lack of discipline. Most people find it difficult to save because they save - buy -save -buy, while others simply buy. It is easier to say yes than no. Those who lack discipline to say "no" will find financial success an impossible achievement. The "must have it now" mentality - buy now what your can't afford by charging it up in hope that you can pay for it later. Most people are easily led by advertising and easy availability of credit.

Reason Ten: Procrastination (big word, hey!). Many people put off a savings programme until it is too late. Young people have a wonderful opportunity and advantage because they have time on their side. The reasons people give for not starting a savings programme are varied and many are genuine. They also vary according to age. In their twenties they are just getting started in life with a first job and want to enjoy themselves by spending on cars, stereos etc. In their thirties they have a young family and a mortgage to support and no money. In there forties they say things are tough with kids to put through university and unexpected medical expenses................. and in their fifties it is already too late with no time left to accumulate capital through magic of compound interest.

A CONVENIENT TIME NEVER COMES.

IT IS ALREADY LATER THAN YOU THINK.

Hope this information has been helpful to you.

6. If you've been thinking about converting your individual retirement account to a ROTH IRA, now might be a good time to convert, as taxes should be smaller because of market decline. What's advantage of converting to a ROTH IRA? Once retired, all money withdrawn from ROTH will be tax-free.

7. Spend some time assessing your investment portfolio. What is your risk tolerance? Are you willing to exchange higher returns for greater fluctuations? If you do decide to sell off part of your holdings because it is no longer appropriate for you, do so because you have a good reason, not because market is down.

Timing market and chasing after hot stocks seldom works. Most people end up buying high and selling low with this thought process. Once again, think long-term and your successes will be greater.

Remember, many people may be selling now, but for every share sold, someone is buying. So who's smarter, ones buying or ones selling?

You decide!