Publisher's Synopsis
Building wealth can be one of the most exciting and rewarding endeavors a person can undertake in their life. Aside from making life more comfortable on a daily basis, having a large net worth can reduce stress and anxiety by relieving you of the burden of worrying about putting food on the table or being able to pay your bills.
While there are numerous articles dedicated to specific techniques and strategies for building wealth and becoming wealthy, this advice focuses on the philosophy behind how to become wealthy. These considerations can help you better understand the nature of the challenge you face as you embark on the task of accumulating surplus capital. Many people never build up a substantial nest egg because they don't understand money or how it works. This is one of the reasons why the wealthy's children and grandchildren have a so-called "glass floor" beneath them. They receive knowledge and networks simply by virtue of the family they are born into, allowing them to make better long-term decisions-often without even realizing it. Whatever household you grew up in, the key is to force yourself to move away from selling your labor (work) and toward making your money work for you. Each dollar saved equates to one employee. The goal is to force your "employees" to work hard in order for them to eventually make their own money. When you've achieved true success, you don't need to sell your labor and can live off the profits from your assets. One of the most common mistakes people make when attempting to figure out how to become wealthy is believing they must begin with an army of funds. They have a "not enough" mindset: "I don't have enough money to invest." They believe that unless they make $1,000 or $5,000 investments at a time, they will never become wealthy. However, armies are built one soldier at a time, and your financial arsenal is no different. When most people consider how to acquire wealth, they actually imagine hard work and struggle. Unless you want to take the difficult route, this does not have to be the case. Personal growth necessitates learning what it means to think and act differently than the wealthy. Your wealth will not grow on the outside unless it grows on the inside first. This is a universal rule followed by all successful people. They are constantly developing their personal brand if they are successful in any area. It's now time to start leveraging a passive income stream. Passive or residual income generates consistent income without requiring your consistent energy or effort. This is how the wealthy became wealthy and continues to do so. There are only 24 hours in a day, and there is so much you can do on your own. Working extra hours will increase your income but will not make you wealthy. It's like trying to fill a leaking bucket. Stocks, securities, annuities, real estate, Laundromats, and Network Marketing are all examples of passive income. Find a success coach or mentor who has already achieved the results you seek. Learn how he or she got to where they are and how to emulate them. If one person achieves a goal and another person follows the same exact steps, he or she will also achieve it. This person will be your guide and will help you stay on track. Numbers always provide strength and energy. Discover how to protect your current income. Make it go further and last longer. Eliminate all debts, then work with a coach to change your mindset. You can be, do, or have anything you believe or know you can. You must believe in your ability to succeed, and you will. This is a universal principle. Nobody is more fortunate than another. Your prosperity has nothing to do with luck. You don't have to struggle or work hard in life. All you have to do is to take the steps above and remain consistent. Perseverance is the only way. The only thing hard will be to stick to a discipline and to make sacrifice. That alone is may be ok.
