Everyone says they want to be rich, and there’s certainly enough advice out there on how to acquire more money.

But what about the reasons you’re not rich? What’s really holding you back?

It’s easy to tell someone how to do something, but chances are they aren’t going to change until they recognize the real root of the problem.

The Beatles famously sang, “Money can’t buy me love,” and we’re certainly not arguing with that realization.

Still, it’s hard to deny the enviable perks of being rich, including owning a beautiful home, traveling the world and enjoying financial freedom. Unfortunately, while many of us fantasize about acquiring wealth, few of us ever achieve great prosperity.

It doesn’t have to be that way, though. Wealth is within reach for all of us if we’re willing to take risks, learn from our mistakes and change the way we think about money.

Here are 10 reasons that might help explain why you’re still not rich


10. You’re Afraid to Invest.


The ups and downs of the market might have scared you away from investing your hard-earned cash, but it’s time to get over that fear. With interest rates for savings accounts and certificates of deposit pretty pathetic these days, you’ll have a better shot at seeing your money grow if you invest some of it in the market, where returns can be much higher.

“One of the reasons many people delay beginning to invest is because they don’t fully understand the power of compound interest, which Albert Einstein coined ‘the eighth wonder of the world,'” says Matt Cosgriff, a certified financial planner for Lifewise in Minneapolis.

Compound interest means that as your principal investment earns interest, that interest will be added to the principal, which will in turn earn interest on itself. This “interest on interest” creates a snowball effect that can mean big bucks over time—especially if you start investing at a young age.

Need more convincing? Robert R. Johnson, president and CEO of The American College of Financial Services, suggests considering this example: if an individual is 25 years old and starts saving $200 per month, investing it at 10% interest compounded monthly, she will have an impressive $1,275,556 at age 65. On the other hand, if the individual waits until age 35 to start this same investment strategy, she will only have $456,065 at age 65.

There are several online calculators available that can help you figure out how much money you could make on your investments over time.

“The power of starting early allows your money to compound over years and decades to the ultimate benefit of your future self,” says Cosgriff.