Why Financial Success Is More About Humility Than Hustle

Three clovers on a black surface, including a rare four-leaf clover, symbolizing the contrast between common risk and rare luck in financial life.

In 2008, everything changed. I watched people I admired—friends who owned multiple properties—lose everything. Foreclosures, bankruptcies, even divorces. They were smart, capable, and hardworking. But all of that crumbled because of bad timing. That year, I stopped asking, “How do I get rich?” and started asking, “Why do I spend the way I do?”

Morgan Housel’s The Psychology of Money argues that success is shaped not just by effort, but by luck and risk. And the 2008 crisis confirmed it. Some friends took big financial risks—they’re still trying to recover. I, on the other hand, managed to hang on, and that made all the difference.

Research backs this up. UC Berkeley economist Marianne Bertrand found that serendipity and timing play a major role in wealth accumulation. The World Economic Forum emphasizes that environment and chance significantly influence financial outcomes. Pew Research even reports that 43% of U.S. millennials doubt they’ll ever be rich—many blaming bad luck.

So, what can we do in the face of forces we can’t control?

I made a shift. I stopped chasing perfect outcomes and focused on what I could control. I set up auto-transfers to a high-yield savings account. I began investing in S&P 500 ETFs via Charles Schwab, monthly. More importantly, I created a financial safety system—one that worked quietly in the background, preparing me for the next surprise.

Luck can’t be commanded, but risk can be managed.

3 Habits That Make You “Luck-Ready”

Plan for setbacks, not perfection
I now build my life assuming downturns will happen. That mindset saved me more than any stock pick ever could.
Watch your confidence
When income rises, it’s easy to overspend. I resisted lifestyle inflation, knowing that real wealth is what you don’t see.
Stay humbly connected
I constantly remind myself: I didn’t succeed because I’m better—I survived because of timing. That humility keeps me grounded. And I believe this: luck often arrives through people. By nurturing relationships—with mentors, peers, collaborators—we build bridges for good fortune to cross.

This is what I call financial humility: recognizing that effort matters, but outcomes are often beyond our control. The more thoughtfully we prepare, the more we invite luck to visit.

So, no—I can’t control luck. But I can keep showing up, trying again, and creating space for opportunity. In my experience, luck is a gift others give you. The way we treat people determines how often that gift shows up.

What about you? Have you ever seen luck—or risk—change your financial path? What habit helps you stay prepared for uncertainty?

Let’s share and learn from each other in the comments.

This post is inspired by key ideas from The Psychology of Money, reinterpreted through the author's personal lens. No direct quotes are used. All rights belong to the original author.