When asked, most people would admit that they would like to be wealthy. Money provides security and the ability to experience life to its fullest. In light of this fact, it might be surprising that most people lack a plan for becoming wealthy and escaping the confines of a cubicle and fluorescent lighting.
There are different stages of creating true wealth. These stages include making money, saving that money and then investing that money so it multiplies. If any of these aspects of wealth creation are missing or if there are problems in any of these areas, the entire plan will fail. Without investing you must continue to work and innovate to create wealth. Without a plan to save some money for investing you are living on the edge of possible financial catastrophe. While you might wish to focus on income first, having these other aspects of your plan thought out beforehand is important. This is your first step to financial freedom.
First, what do you have that can create the kind of wealth that you dream of? What specialized knowledge or interest do you have that can help solve people's problems or make life easier for society? Creating true wealth is primarily done by finding a problem that exists and coming up with a simple solution for that problem. When you can't find a simple solution then this is when a more complex solution becomes necessary.
There's a good chance that you are making someone else very wealthy right now by working a full time job. You are exchanging your time for money and someone else is leveraging your knowledge or expertise to make more than they are paying you. If you enjoy what you do for a living right now then your goal should be to put that specialized knowledge to work for yourself. There is also a good chance that you have other interests that you enjoy more. Maybe you love fly fishing and you're good at catching trout or tying flies. You could become a fishing guide or write a book about trout fishing or sell your own brand of flies to upscale fishermen like yourself. Or perhaps you love the serenity of gardening and making things grow in your garden using organic methods. You could write a book on organic gardening or start your own organic farm. Now is the time to decide what direction you wish to go in. What makes you happy and what would you like to do with your life? What topic would you enjoy becoming an expert on? Begin to educate yourself as if you were going to become a world renown authority on this subject.
Time and managing time is always a problem. Once you get moving down the path to wealth, you will find that there simply aren't enough hours in the day to get everything done that you wish to get done. Freeing up some of that time by hiring someone to take care of the more mundane tasks that you dread is an investment in your future. If you could be accomplishing a task that will make you money and you can hire someone to cut your grass or clean your house for less money then you are turning a profit. Unskilled labor is very inexpensive and while you can't outsource your laundry overseas, you can find someone locally who would be happy to make a few extra dollars a week for helping you.
If you are someone that likes to control every situation or if you become stressed out that someone isn't going to take care of these chores as well as you might, you have two choices. You can either work on letting it go and just be glad that the job is done or you can find someone else to do the job more to your liking. Of course, if it's just a control issue, realize that it's important that you give up this control. You're only hurting yourself and your future wealth by being too much of a perfectionist. If you simply can't afford to outsource all the things that you need to right now, make this your first goal. Create that wealth so you can focus on creating more wealth.
You have probably heard the saying that you shouldn't keep all of your eggs in one basket. This is very true when it comes to investing and building wealth. You should have different projects going on in your life that will bring you wealth. You might only be minimally involved with one or two of them but having a shareholder's stake in a few different ventures is just good business. You will always gravitate towards one project but having a mastermind or small investment group that you're part of can diversify your income while minimizing risk.
You might have a few close friends that share the same dream of becoming wealthy. You could create a group and work together on projects while still being independent. Maybe you have a friend that is a carpenter and another that is a computer programmer. You could all work together on three different projects and share a portion of the profits as your businesses grow. You could encourage each other, hold each other accountable and lend a helping hand on different projects as the need arises. Think about this for a while and your mind will find others in your circle of friends who also have the entrepreneurial spirit within them.
Creating wealth and being clever with your time while mitigating your exposure to risk is a simple way to become rich rather quickly. If you are able to focus on what you are skilled at while offering value to others, you will become successful. Make good use of your time and partner up with other like minded individuals for different projects. You will find that once you manage your time and resources, you will have more money making opportunities than there are hours in the day.
There are different stages of creating true wealth. These stages include making money, saving that money and then investing that money so it multiplies. If any of these aspects of wealth creation are missing or if there are problems in any of these areas, the entire plan will fail. Without investing you must continue to work and innovate to create wealth. Without a plan to save some money for investing you are living on the edge of possible financial catastrophe. While you might wish to focus on income first, having these other aspects of your plan thought out beforehand is important. This is your first step to financial freedom.
First, what do you have that can create the kind of wealth that you dream of? What specialized knowledge or interest do you have that can help solve people's problems or make life easier for society? Creating true wealth is primarily done by finding a problem that exists and coming up with a simple solution for that problem. When you can't find a simple solution then this is when a more complex solution becomes necessary.
There's a good chance that you are making someone else very wealthy right now by working a full time job. You are exchanging your time for money and someone else is leveraging your knowledge or expertise to make more than they are paying you. If you enjoy what you do for a living right now then your goal should be to put that specialized knowledge to work for yourself. There is also a good chance that you have other interests that you enjoy more. Maybe you love fly fishing and you're good at catching trout or tying flies. You could become a fishing guide or write a book about trout fishing or sell your own brand of flies to upscale fishermen like yourself. Or perhaps you love the serenity of gardening and making things grow in your garden using organic methods. You could write a book on organic gardening or start your own organic farm. Now is the time to decide what direction you wish to go in. What makes you happy and what would you like to do with your life? What topic would you enjoy becoming an expert on? Begin to educate yourself as if you were going to become a world renown authority on this subject.
Time and managing time is always a problem. Once you get moving down the path to wealth, you will find that there simply aren't enough hours in the day to get everything done that you wish to get done. Freeing up some of that time by hiring someone to take care of the more mundane tasks that you dread is an investment in your future. If you could be accomplishing a task that will make you money and you can hire someone to cut your grass or clean your house for less money then you are turning a profit. Unskilled labor is very inexpensive and while you can't outsource your laundry overseas, you can find someone locally who would be happy to make a few extra dollars a week for helping you.
If you are someone that likes to control every situation or if you become stressed out that someone isn't going to take care of these chores as well as you might, you have two choices. You can either work on letting it go and just be glad that the job is done or you can find someone else to do the job more to your liking. Of course, if it's just a control issue, realize that it's important that you give up this control. You're only hurting yourself and your future wealth by being too much of a perfectionist. If you simply can't afford to outsource all the things that you need to right now, make this your first goal. Create that wealth so you can focus on creating more wealth.
You have probably heard the saying that you shouldn't keep all of your eggs in one basket. This is very true when it comes to investing and building wealth. You should have different projects going on in your life that will bring you wealth. You might only be minimally involved with one or two of them but having a shareholder's stake in a few different ventures is just good business. You will always gravitate towards one project but having a mastermind or small investment group that you're part of can diversify your income while minimizing risk.
You might have a few close friends that share the same dream of becoming wealthy. You could create a group and work together on projects while still being independent. Maybe you have a friend that is a carpenter and another that is a computer programmer. You could all work together on three different projects and share a portion of the profits as your businesses grow. You could encourage each other, hold each other accountable and lend a helping hand on different projects as the need arises. Think about this for a while and your mind will find others in your circle of friends who also have the entrepreneurial spirit within them.
Creating wealth and being clever with your time while mitigating your exposure to risk is a simple way to become rich rather quickly. If you are able to focus on what you are skilled at while offering value to others, you will become successful. Make good use of your time and partner up with other like minded individuals for different projects. You will find that once you manage your time and resources, you will have more money making opportunities than there are hours in the day.
About the Author:
Go to http://regal-assets.positive-and-optimistic.org/ to uncover the truth about wise investing and building wealth. Uncover the truth about where the wealthiest investors are putting their money.
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