Getting rich like the Super Rich-Money and Success

The main difference between the super rich and the normal folks out there is what each consider as being wealthy. For the normal folks, wealth relate to having enough money to put food on the table, paying the kids fees and paying rent, basically have enough money to cover the expenses for the day. Mostly, these people live from pay check to pay check focused on expenses, working on the 9 to 5 grinds. The super rich on the other hand, consider security.

Security here imply, insurance against life’s unexpected circumstances for a start. These circumstances can be declining income, an unexpected death or disability of a household wage earner. To this group of people, wealth is not how much money one has at any point, rather, the preparedness for any negative life’s event-which we could term as SECURITY. The rich and their relationship as well as behavior with money is such that it allows them to stay in control regardless of what life throws at them.

Their goal is to minimize expenses and increase disposable income, to do with as they please. And that income they have at their disposal would normally be saved and invested into assets that generate income. Accordingly being rich is a state of having plentiful be it money or wealth to do with as one pleases. This state normally spells FREEDOM to most.

Financial Freedom -Inspiration for success!

Most of the people lack the financial freedom to buy whatever they want. The rich on the other hand, because they are rich can buy life’s little pleasures. In fact studies indicate that only 6% of the world population are financially free at retirement.

Looking at this, it is a fact that no amount of money can buy anyone away from life’s problems and challenges. It is not surprising therefore that popular celebrities which we ordinarily consider well achieved and rich, do in fact get divorced, they overdose on drugs, they commit suicide, and experience the problems of day to day living, just like any one of us. Their fame and wealth does nothing to protect them from problems, nor does it buy them happiness.

Success, financial freedom and wealth if you will, is not therefore about how much money one has. Rather, it gets inspired by doing good and by making “the best use for your time” and actually doing something meaningful- “things of Value”. When I started on my journey to wealth building, my aspirations were,

  1. Living life on my terms, comfortable and not worried about where my next meal will come from;
  2. being the best provider and mother to my kids;
  3. making a difference in the world and being a woman of value to not just my kids, but to my fellow women, my country and so much more; and
  4. Give to the poor and the needy, in whatever manner possible.                                                                                                                                                So far, I have enough to provide for my family, give to the poor and the needy as well as live a somewhat comfortable life. My mission now is to making a difference in the world through the assets I am accumulating. One would realize that the motivation for financial freedom here is money, but as a vehicle for wealth accumulation. Wealth can thus be defined as “accumulation of resources and possessions of value” for a much bigger purpose.’ The inspirations referred above thus defined my goals; and established in clear terms what success is to me. Of course, these aspirations and goals are different for everybody. Each individual have to define “what success looks like to them.” This then forms the basis for your wealth plan.

Developing the mindset to be rich

To build powerful wealth for oneself requires a particular mindset.

There are a number of fundamentals to be observed for having a mindset or the mentality of the wealthy. Its starts with one’s value system. Integrity becomes one of the 9 fundamentals of such a value system. In this regard, being a millionaire does not mean sacrificing your integrity, but upholding it. This negates the myth held by many that one must sacrifice their integrity to become a millionaire.

Two, one should be social, three, be willing to pay the price for whatever you want, four, control your mind, five, acquire the necessary skills-educate yourself; six, master your language and be articulate in both spoken and written language; seven, follow the truth and finally, never compete.

All these fundamentals require that at any point in time, your awareness and knowledge is clear on the “why” one needs money and has the attitude to sustain him/her on that journey to freedom.

3 Simple Steps to Financial Freedom

Step 1: Work on Your Mentality

Robert is this case agrees with me that what one feels and says are two very different things. You may strongly feel that you are poor due your current state of finances or affairs. However, don’t manifest those feelings into words. Those feelings could just be feelings or emotions emanating from the fear for what you are faced with. I could refer to that as a state of being in a SCARE CITY commonly known as a state of lack.

Your words however must come out completely different from what you are feeling. Why should that be?

WORDS are powerful, they have a far reaching impact than emotions. They can hurt you and/or they can bless you. Proverbs 18:21 says it better that  “Death and Life are in the power of the tongue, And those who love it ⌈it being either Death or Life⌉ will eat its fruit.” Don’t therefore let the poor man inside you do the talking, rather keep him suppressed and jerk yourself up to freedom and success through positive words.

Step 2- Manage your Money

Know where your money flows every month and how much that is. In essence, be aware of what you spent your money on and account for every cent of your income. This way you can better channel the outflow from where it is unnecessary to where it is necessary and required, in order to provide  you the impact you want in your life. That way you would then be providing the necessary leadership to your money and controlling where it should go in terms of:

a) How much to save and invest;

b) How much to spend on necessities;

c) How much for fun and enjoyment; and

d) How much on growth (Debt repayment; investments be it in business (es) or any other form in order to create multiple Income streams).

The above will give a clear picture of what your future success looks like. After all,  your current expenditure is a clear indication of your tomorrow. If you don’t like what you see, you can catch it early enough and change it. Remember you are in control of your LIFE, ALWAYS-not your CIRCUMSTANCES! Manage your money therefore and know what you spent it on.

Step 3:Your Money

This means you develop a clear plan of action (Financial Plan) where you make your money work for you. In this context two key issues come to play as follows, to direct your money:

a) Grow Your Assets– this is where you create assets that generate income. Predominantly, through these assets, income flows into your life without your active involvement 24 hours a day, 365 days of the year. And you would not be exchanging any of your time, energy or skills for it.

b) Protect Yourself -this is where you acquire insurance and wealth documents for you to sleep peacefully knowing you have a plan that works and that will ensure you are safe and secure in your old age AND that you can have an amazing life getting there.

These two items become very key as a buffer to any of the life unexpected events be it death, loss of income or any other eventualities.  Circumstances shall not be rendered you broke at any point.

Insurance would cover things like- Life Insurance, Income Protection Insurance, Property (Home and Building) Insurance, vehicle Insurance, medical Insurance and other needed insurance as per your requirements. AND, Wealth Documents would refer to the Will/Living Will, Inheritance and Estate Planning, as well as Power of Attorney.

Conclusion

Wealth creation and getting your money working for you is said to be only 20% technical skill and 80% mindset. This means the biggest asset to grow in the journey to wealth creation and financial freedom is YOU! Invest in your growth in knowledge, attitude and skills and your journey to success becomes innate and thus seamless and sustainable.

Author

support@slashdebtbeamillionaire.com

Leave a Reply

Your email address will not be published. Required fields are marked *