You Have These 5 Guarantees That You Will Be Rich You’ve been working nonstop to launch your business, or you’ve put in more overtime hours at work than you can count. At some point, you should become wealthy, and in this video, I’ll share with you five indications that you will, with the last indication being a trait shared by all billionaires.
1. you’re pissed that you’re broke
People must be willing to move outside of their comfort zone if they want to advance in their careers or in their personal lives. Successful people throughout the world discover early on that becoming millionaires is never simple and that the desire for wealth is equally For individuals who attain great financial success, they learn to be comfortable working in perpetual uncertainty, but what does it mean to actually venture outside of your comfort zone? Comfort can be a temptation that will kill any chance they have of striking it rich. Leaving your comfort zone may involve accepting a position that exceeds your capabilities. acquiring fresh knowledge or making new connections
people whose recommendations you might use, as Drake says started from the bottom now we’re here and in many circumstances you’re going to have to rise from Financial mediocrity and through the ranks to get where you’re trying to go in fact starting at the bottom generally involves enduring and pulling through hard times and a lot of discomforts the soon to be successful people take comfort in the fact that the easy Road soon becomes hard while the Hard Road with time becomes easy basically you have to loathe your current position in life it is generally believed that
The only people who take action to improve their financial situation are those who are not content with living in poverty, so in this article I want to say congratulations in advance if you’re lucky enough to feel this desire and know how to keep it burning your success depends on your ability to maintain a burning desire for the wealth that essentially consumes you.
2. You have separated your time and money
We were all sold the idea that we should pursue the traditional career path of a 50-hour work week in order to earn a stable salary. In other words, your life should consist of reporting to work early, working for eight or more hours a day, staying up late to handle all of your other responsibilities, and if you’re lucky, having a few hours to yourself on the weekend to relax. Then, if everything worked out by age 65, you’d have enough money. How did man manage to create laws requiring us to trade our time for money? in fact this is arguably one of the biggest scams in society time is our most important commodity and not even
also read – How to Set Investment Goals and Why You Should
The fact that there are only 24 hours in a day and most people need to sleep for eight hours each night and commute for two hours each way means that no amount of money in the world can make up for how limited your income potential is if you currently make a living by exchanging your time for money. In fact, I would say that trading time for money is nearly impossible to succeed at.
it but the fact is that no matter how much time is spent working for an organization whether twenty dollars thirty dollars or fifty dollars per hour you’re always limited by time also you have to wait years before you get the much needed and prayed for promotion and there’s a good chance you won’t necessarily get that promotion at all now to top it all off employment tax is the most taxed income and the more income we earn the more taxes we face this means that when someone goes from earning sixty thousand dollars to
a hundred thousand dollars at their job they really don’t make forty thousand dollars more the after tax increase is significantly less not to mention when we’re constantly trading in our time for money our time for our passions are severely limited things like a hobby we love giving back to the community or building something that can have a tangible impact on the world or put on the back burner as we try and stay financially afloat but You’re now aware of the time for money trap so make sure
you congratulate Yourself because once you ditch to this inefficient money making model you’re one step closer to becoming that rich individual you’ve always wanted to be once you drop the mindset that says that in order to make money we have to exchange our time for it our minds open up to Opportunities there is no rule that states that in order to earn X dollars we have to work X hours when you’re among people who understand that time can’t be exchanged for money you’re thinking of trading value for money not time such a person thinks about what value he can create for other people and how he can generate that value what resources skills knowledge connections or ideas do you have that people value identify your strengths and abilities and then go all in
3. you understand the difference between saving and Investing For wealth creation
There is a common misunderstanding between saving and investing that most people have, similar to many other things in our school system. Despite the fact that many people frequently use the phrases interchangeably, saving and investing are as distinct as chalk and cheese. If you possess this information, you are on the verge of being wealthy. You may wonder why it is so important; I’ll explain why in a moment. The first stage is to save the difference between your monthly costs and income.
the Finish Line when it comes to wealth creation when you gather part of the money you save and invest in different asset classes such as stocks bonds real estate or gold you create wealth certain financial advisors just tell you to put money aside on a regular basis spend less than you earn and deposit the rest in the bank this is a saving however when you understand that saving a loan cannot make you rich and it is different from investing you can take the next step assuming you reserve a fixed amount each month for mutual funds now this is investing the thing is some people already know that investing money can generate profits that increase your net worth and help you build wealth Over time however they think storing cash in the bank is the tried and true path to doing so once you can
differentiate between saving and investing you understand that money kept in a checking account does not produce enough returns to beat inflation instead the money invested in assets such as stocks mutual funds and real estate while being exposed to more risk are your best bet to achieve the level of wealth creation you desire the goal of all Investments is to beat inflation because with inflation the value of money deteriorates over time if the current cost of buying bread is three dollars after ten years the same loaf will probably cost you six dollars therefore when you invest your goal should be to earn a return that is higher than inflation let’s say you put your money in a bank account that pays you seven percent interest
which chances are you’ll never see by the way a year later you have seven percent more money however if inflation is above seven percent it will buy less than when you started even if you have more money in your pocket this is the reason understanding the difference between saving and investing is undoubtedly a good omen for wealth if your aim is to double your savings you need to invest it so that the interest rate or profit you earn is higher than inflation to create wealth all you have to do is invest to beat inflation and do it regularly over time according to financial plans
4. you have Financial mentors
if you already have a financial Mentor believe it when I tell you that you’re on your way to success many very successful people have this in common they had a mentor a mentor is someone who is on the same path as you but is simply further down the line from their experience they can provide the information and guidance you need for your chosen career path if you ask me mentors are crucial to your success because mentors will guide you among other things on how to avoid potential pitfalls and how you could approach
the next steps in your career a mentor can often facilitate networking between you and others which can also help Advance your career getting a mentor can benefit you in many ways and can definitely help you find success faster than if you didn’t have guidance in fact you should be grateful that you realize the need for a mentor and found one why let me break this down for you right now starting running and growing a company can be lonely and difficult
task who did you turn to for advice from whom can you bounce ideas and if you sometimes feel depressed confused or just want an energy boost who can give you that the answer is simple you get a mentor there are many people who have built a business and there are many more people who are passionate about sharing their experiences of what works and what doesn’t a Zen quote states that a wise man learns from his mistakes however an even more intelligent man learns from others when it comes to making something new you have two options the first is to put in years of hard work learn by trial and error Reinventing the wheel the second is to learn from individuals that have already walked that path mentors who have been there and done it in my career I soon realized that observing and emulating successful people’s habits processes and attitudes was a reliable way to track my own success looking at this this was one of my most important life lessons and it is stayed with me ever since this simple idea can be easily transferred to your world and if you want to accelerate your success personally
professionally and in your business this is it success modeling now keep in mind that if you have a mentor to guide you that doesn’t mean that there are no trial and error experiences after all we know that a child learns to walk by modeling the people around him but still Falls from time to time why does the second sibling usually develop faster than the first because they have a role model to emulate and copy they model success at an early age it’s a simple ideology you inadvertently become the person you spend the most time with there is an expression that says if you want to fly with eagles don’t hang out with turkeys suppose you want to be a high achiever and have surrounded yourself with like-minded people who share common values that stretch and challenge you to grow your chances of success have increased just as those of failure have reduced once stretched the mind never returns to its original Dimension
5. You have numerous income streams
the last sign of people destined to make great wealth is such people have created for themselves multiple streams of income not only that they can successfully maintain and multiply these streams of income one way people build new streams of income is through active work most people who eventually become rich start by trading time for money at a job or in their business then they slowly amass the assets to retract their time while still making money and seeing their Bank balances rise however Beyond active income making money while you sleep is another key to financial prosperity let’s assume you’re a writer the opportunities to make passive income include writing a book or creating a Blog with which you earn advertising revenue and income from affiliate and product sales at the end of the day making more money in diverse ways is a Telltale sign you’re about to become rich.