Have you ever wondered how to create wealth in your life?
Well, you’re not alone. Millions and millions of people have most likely wondered that too.
In fact, it’s searched for online (in different ways) tens of thousands of times per month!
Now there’s A LOT of different ways on how to create wealth giving specific ideas or business opportunities that you could build. The following information are tips when creating wealth in you life no matter what opportunity you choose. It could be in real estate, network marketing, direct sales, or your 9-5 job.
7 Tips on How to Create Wealth
Before I list down the wealth creating tips, the first and foremost thing that you should do and be aware of is to invest in yourself. What does that mean? Here’s a great quote to illustrate:
“To become wealthy, you must study wealth.” (Click to Tweet)
How do you study wealth? You could read books on the subject, read autobiographies of millionaires or look at what other people have done to create wealth in their life and model after it are just a few suggestions.
Here’s the 7 Tips on how to create wealth:
- SEEK FREEDOM, NOT COMFORT – Measuring comfort is mostly measured with money. If there’s not enough money, it’s usually uncomfortable.
If there is enough money and you don’t necessarily have to worry about paying your bills, that’s comfortable. But freedom, true freedom is measured by time. Are you investing or “buying” a future where you don’t have to work? That’s freedom.
- FORTIFY, DON’T DIVERSITY – This may seem contrary to your previous thinking because most financial advisers out there tell you need to diversify your income, which I’ll discuss in another tip.To fortify your wealth means to strengthen with defensive works so as to protect it against attack.
A common example, what if the U.S. dollar was worthless? Just a piece of paper. You can fortify your wealth by putting into to precious metals like gold and silver. Look at is as insurance, not an investment.
- CREATE MULTIPLE STREAMS OF INCOME – Having multiple streams of income is a great way to diversify your income so it’s not all coming from one source. That way, if something should happen to one stream of income, it’s not that big of a blow since there’s other streams still flowing.
How to create wealth with multiple streams of income may come from many different sources: rental property, a job, selling on eBay, building a network marketing company, and more. Think of ways to passively build streams of income that doesn’t take a lot of work.
- DO NOT COMPARE YOURSELF TO OTHERS – This can be detrimental to creating wealth. When we are comparing ourselves to others and focusing on what they have, it means you are focusing on your own lack. What you focus on, you attract.Define your own lifestyle. Create your own vision.
Have a Definite Major Purpose you are working towards. It’s good to look and model after successful people, but don’t compare yourself to them. It’ll just lead you down a path you don’t want to go.
- DO YOUR DUE DILIGENCE – I’ve seen many people get into bad business deals or investments simply because they didn’t do a little research. It’s just a smart idea to find out all the facts, reviews, history etc. before moving forward with something.
You may even interview or talk with other people who are in the program and see how they like it and ask about their experience so you don’t get burned and get into something that you later regret, which may end up losing money instead of creating wealth.
- LIVE WITHIN YOUR MEANS UNTIL YOU HAVE THE MEANS – You have probably heard this people, but it’s true. The wealthy didn’t get rich by using reward points on a credit card. In fact, they don’t even have them.
Learn to expand your means as you have the ability within you to create more! “As I live within my means my money grows.” As you have more means you’ll be able to get the things you want, travel where you want and help those in need.
- NOBODY SHOULD KNOW MORE ABOUT YOUR MONEY THAN YOU DO – I’m not saying a financial planner or adviser is bad. There’s a lot of good ones out there, but there’s also those that don’t have your best interest in mind.
You should be the “master of your domain” and know more about your money than anyone else. Know where it’s coming in from. Know where it’s going and know what works and what doesn’t.
How to Create Wealth – My Thoughts
“The question is not how much money you can make, the question is are you educated enough to keep it.” (Click to Tweet)
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Evan Scoresby’s Marketing Tools
“I teach principles in mindset, marketing and online wealth solutions!”
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