How To Gain Wealth And Be Successful
This article could well have be named “How To Become a Millionaire”, which is the ultimate financial dream of many people; the thought of fancy yachts, fast cars, expensive watches, top notch estates and beautiful women feed that desire even more. Many millionaires are born into their position, and often they simply took a lot of money and turned it into more money. But many people were not born into being a millionaire, and have worked their way up.
It would be a wonderful thought to be able to state that anyone can become a millionaire. But that would simply not be correct. Society has always been characterized by inequality, and millionaires can only exist if there is a low-earning, or rather average earning, population on the other side of the equation. Nevertheless, you are reading this article with great interest. This is already a good sign, as it means that you are willing to make a difference, and stand out. Becoming a millionaire is not out of reach, but it also depends where you are coming from. For some, one million is not even enough.
Gaining wealth has everything to do with doing things differently and standing out. If you consider yourself to be an average person, so will you be an average person. Standing out means doing things differently, creating value for yourself and for others, and therewith being above-average. This also means, that you should not accept, or listen, to everything society tells you.
Create your own vision
You will have to be in charge of creating your own vision. A vision focuses on where you want to head in life, and perhaps even how. Visions are so vitally important, because it acts like an anchor, remembering yourself where you see yourself in a certain number of years. It allows you to take targeted actions, in order to achieve that vision within the set deadline. When you are confronted with choices in life, you might need to step back a moment, and think about your vision, in order to take the decision which is most likely to lead you there.
Some people will try to tell you why your vision is unrealistic, and to get both your feet back on the ground. Others will recommend that you simply get a good job and work hard. The most important fact is, that you are in charge of your own vision, and where you want to head. The vision can be short-term, it can be long-term, but it needs to be somewhat realistic. You should realize, that you might never be able to reach your vision. But that is fine, since life can be influenced by so many little things in life.
Create a passion
What is your passion? Have you thought about that? I would bet, that most people who work for an employer do some work, which they do not like, or which they cannot identify with. Being passionate about something is almost a prerequisite for doing an outstanding job. A passion could be something creative, such as music, or arts. Or maybe you are passionate about personal finance, perhaps you love to write, to do research, or you simply love biology. What ever your passion might be, develop it, and seek an activity within range of your passion. Never stop learning.
This might sound obvious, but many people actually live beyond their standards. Even some people think they are living frugally, and still make purchases they do not need, over and over again. Living frugally means reducing your life to the basics you need on a day-to-day basis. Read: need, not want. This is especially important when you are in the beginning phases of building wealth, and where you simply do not have that much money to spend. But even at later stages, many wealthy people still choose to live frugally, and do something more productive with their money than just spending it.
Living frugally means you can put aside some of that capital you worked hard for to earn. It can be used to create an emergency fund, to invest in some business, or to develop something.
Most wealthy people have taken some risks in their lives. Risk is part of life, and often good results cannot be achieved without taking some calculated risk. People who play it safe, will hardly advance in life, as they feel comfortable with their current lifestyle, and they avoid change. Taking calculated risks is of course something very different than playing with your money as if life were one big casino. Important choices need consideration and re-consideration.
Stop thinking in terms of career
Truly successful and rich people mostly have their own business, in some form. Yes, it is well possible to earn a lot of money while working for an employer, and perhaps you would want to go in that direction. Investment bankers, lawyers, and CEOs all earn good salaries, and in combination with a healthy attitude you can build wealth very fast. However, you will also be expected to work exceptionally hard. Furthermore, you are in charge of your own career up to a certain limit; in the end, your career will depend on the decisions others make for you.
Having your own business means that you can manage your time, you can decide your very own strategy, vision, and where you would like to be heading. Such a business does not need to be big. Look at the many bloggers within the community, who make their living with blogging. Business ideas are not created within a day, often they are formed over years of brainstorming. Until you have the strength and the right business idea you can still work for an employer, to gain experience and to gain a first starting capital for further investments.
Remember, the truly wealthy are those, that others work for.
Build a network
Social network is important in every are of life. The more people you know and connect with, the more information and advice you have at your disposal. Therefore, networking should be an integral part of your life. You will probably encounter many interesting people, who can share with you their experiences, and perhaps give you tips and ideas. Furthermore, the majority of such business ideas or careers are made within such networks.
One of your top priorities is to stay healthy as much as you can. A good workout on a regular basis, drinking little to no alcohol, perhaps quit smoking, and creating a healthy life balance can reduce the risk of severe diseases in future. Being ill, or having a burnout, will not do you any good in building wealth. On the contrary, severe illness, requiring medical attention, can vaporize your wealth in a short period of time.
Become financially literate
Financial literacy is extremely important when you want to work with finance. And working with your own finances is almost a prerequisite if you want to build wealth. Therefore, you will need to educate yourself financially, so that in the end you know exactly how money can be utilized as a tool for creating more money.
Know where your money is going
The super wealthy all have accountants and consultants. They know exactly what their earnings in any given period are, and where their money is going. You might not have the money to hire an accountant, but there are many tools available, both online and offline, which allow you to track all your finances. Only when you know where your money is coming from, where it is going to, and how you are financially developing over time, can you take appropriate measurements in case things are not going well.
Take decision which serve your vision
How many people complain every day that their job is boring and low paid, yet they stick around in their jobs for years. They are afraid of change, or to make the next step. When you want to build wealth, it is important to always keep your vision in front of you, and to take decisions which serve your vision. This might mean switching your career, perhaps not buying an item you really want, or perhaps enroll in a continuing educational program.