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Sunday, 25 June 2017

How To Become Wealthy - A 3 Step Formula

The most certain way to become wealthy is to model genuinely rich people. When you struggle financially, it is almost natural to think of the quickest and easiest way out of your financial mess, which often makes you a potential victim of get rich quick scams.
If you often wonder whether one can get rich without cheating, stealing or winning the lottery, I have an answer for you and it is a big yes.

To become wealthy, you need discipline, determination, and very clear financial goals. You must also be ready to work hard at achieving your goals. Here are three steps that can lead you to a life of sustainable wealth:

Step 1 - Change your attitude towards wealthy people.
Most people from poor or middle class backgrounds have been programmed to believe that rich people are greedy dishonest crooks who take advantage of the poor. Now think about this for a moment. Is this not a perfect excuse for your subconscious mind to sabotage your wealth creation efforts? However much you may want to become wealthy, deep inside you would want to be known as a rich greedy crook that takes advantage of the poor.

Step 2 - Set financial goals and work steadily towards them.
You may have heard this before and you will tell me that you have New Year's resolutions that you have never gotten round to implementing. The goals I am talking about here are financial goals and by setting these, you are able to set the strategies that you will adopt to achieve them.
To become wealthy, you need to know specifically how much money you want to make and in a given time frame. For Example 'I want to make $500,000 in the next six months using all the tools at my disposal, selling widgets' is a clear goal. Once you set a goal like this, it is easy for you to measure your progress along the way.

Step 3 - Invest in your financial education.
How much money do you spend on books, seminars and workshops that teach you how to earn, save and invest your money? Any money you spend on these activities is certain to bring you a return at some point in time. Investing in your financial education can never be a waste of time and money.
For instance, you attend a real estate investment seminar that costs you $2,500. In this seminar you learn how to buy property without having to come up with a large down payment, and you take action based on your newly acquired knowledge.
Two months later, you own an investment property worth $250,000. Suddenly the $2,500 does not seem to be significant, given your return on investment.
Many people resist buying books because in their opinion, the only people getting rich are the authors. If you have such an attitude, you will never be able to move to the next level, because if you are not learning, you are not growing and if you are not growing, you are dying.

No one creates and sustains wealth by accident.

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