You have probably both heard the following quotes:
“Money doesn’t grow on trees”
“Money is the root of all evil”
These are well intentioned phrases from well-meaning parents, friends or acquaintances, however for the most part these mindsets are wrong. Anyone old enough to remember paper currency in Australia will know this is the case.
The Russian-American novelist Ayn Rand uncovered the core of what wealth is when she said “Money is only a tool, it will take you wherever you wish, but it will not replace you as the driver”. (More money mindset quotes here at Forbes).
If you are looking for the secret of wealth, then wait for it, are you ready to be blown away?
The real secret of wealth is, everyone can have it. It seems so simple right? Well that’s because it is. Whilst everyone has the ability to create wealth, many people believe deep down that they can’t and will never be wealthy.
To qualify this thought, anyone telling you that you can make a million dollars in 30 days, starting from nothing should be kept away from. Unfortunately it’s highly unlikely that someone is going to mail you a million dollar cheque tomorrow, even if you received an email from Nigeria where someone promised it to you.
No, wealth is created. This is why everyone can have it. When you renovate a property and increase its sale price by $80,000 (over and above what you spent on it), you create wealth. When you invent a new device which solves someone’s problem, you create wealth. And when you find a new buyer who loves your company’s product or service, you create wealth.
Here are some practical things you can do today to help you on your own path to wealth:
- Define your vision or ideal destination
- Work with a team of professionals to put your strategy into motion
- Regularly review and check in to see how you are tracking
These steps are easy to do but rarely done. Let’s work to a simple example to illustrate the above. Say your dream financial goal was to pay off debt. If you have $5,200 of debt and your vision is to be debt free in one year, your goal could look like this:
- $5,200 in one year = save $100 per week (assuming no interest)
- Talk to an advisor or finance coach who has an understanding of your financial situation
- Use automated transfer plans from your bank accounts, which will ensure you don’t buy that extra take-away meal or kindle book!
Once you create the goal, make sure you write it down!. Writing down a goal, according to a Harvard university study published in
What will you choose to create and which experts will you enlist to help you succeed?