When you think about wealth, you can't avoid dealing with a few myths about it. These myths are about what it means to be rich. This much up front: although some myths may have a kernel of truth, at the end of the day they remain half-truths. Below is a brief overview of some of the biggest myths when it comes to wealth.

1. The First Myth - Wealth Is Always Inherited

This claim holds true in only a few cases. The reason it still has so much pull that it sometimes seems as though wealth is always inherited is that these are very extreme cases. This kind of claim really belongs in the same category as the claim that a fortune can only come from an inheritance. After all, if you look at it soberly, you find that the clear majority of today's wealthy people once started out as average earners and built their fortune through hard work. Of course, it is true that your network, your contacts and, of course, a bit of luck are very important for really getting rich. But it is 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 Protects You from Everyday Problems

At first glance, this myth may not seem all that far-fetched. And it isn't. Being rich means people don't have to worry much about travel, food or even housekeeping. But does wealth deliver only happiness? No, there are false friends, meaning those who are only after the money. So you have to tell who your real friends are and who only wants to take money out of your pocket or tag along for the exclusive lifestyle. Another risk, of course, is being extorted or even 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, moreover, famously comes with obligations and can also breed envy.

3. The Third Myth - Wealth Makes You Happy
This myth may be the most controversial one, but actually it is quite clear that wealth doesn't make you happy. That isn't just a subjective perception, it has actually been confirmed by scientists. The scientists found that a certain income, once you reach a certain magic threshold, doesn't make you any happier. Is being rich what people should really strive for? Rich in money, or perhaps rather rich in happiness? So what is the reason so many people are out to attain wealth? It comes down to a crucial mix-up, namely of cause and effect. After all, it isn't money that creates happiness, it is the person who is happy who is successful.