If you look around at all the rich people you read about or know about, you’ll probably find two things in common. It’s not where they came from, their background, or their investment strategy.
The first thing you’ll notice is, at some point in their lives, they’ve all failed big time. So if you think you’re a failure, or even better, if you are actually a failure, you’re on to a great start!
The second thing is, they all got to a point in their lives where they had to learn something about themselves, learn from their failures, make a plan and then take some action to “bounce back” as it were.
You may feel like a failure if you’ve got a lousy job and want out but you just can’t. You have some money or savings, some debt that you’re paying off like a house or a car, you’re alright, but you feel it could be better. You’re feeling a bit trapped because you want to earn more, but can’t leave the security of the job you have now. I know someone who left his lousy job to go to one with seemingly better prospects, but it ended up being worse. So he had to go BACK to his first lousy job to pay the bills.
But that’s still better than a lot of multi-millionaires had it when they started their wealth journey. A lot of them started out with so much debt, they couldn’t even pay it off even if they worked their entire lives. So what they they do to get out of their situation? What did they have to learn or have the knowledge of to recover?
One, their world outlook or psychology towards money and wealth is different. If you look at the world with the mindset that money is hard to come by or that life is not that easy then you need to change your attitude. Start thinking like a wealthy man. The world is full of opportunities that are simply inexhaustible. The rich who’ve failed still have this mentality, even when they are bankrupt! Tune your mind towards seeking opportunity and your journey will have begun.
Two, they are knowledgeable on financial matters like the economy, finances, financial markets, interpreting financial statements and so forth. Understanding how money works will help you come up with strategies of wealth creation that most suit you. The world is abundant with opportunities and once you identify yours, knowledge of money matters will be essential to creating wealth.
Three, they come up with practical, well thought out goals and a plan of achieving them. You would be amazed to find out what a tiny segment of the entire world population actually bothers to have goals and plans of attaining them. Compare the fraction of wealth generated by this tiny fraction against the rest of the world and is it any wonder we have so few wealthy people in the world? If you have a wealth goal or plan, write it down. Place it somewhere permanent, where you can see it everyday.
Lastly, they take action. Nothing is possible without action. If you have a plan to get rich, stick to it. Don’t just think about it, do it.
And while you’re taking action, don’t fall for those “get rich quick” schemes. Those who are truly rich have a plan not just to get rich, but to STAY rich. No one has become a multi-millionaire without working towards it. The biggest difference is, they enjoyed doing everything they did to get rich, so it wasn’t HARD WORK. So start your journey today.
This article was adapted from Marcus de Maria, a wealth creation expert from UK.