Wealth.

30 December 2007

Did I really choose this foto to go with this title?

Having been rich, and now being poor, I can tell you without any reservations that being rich is infinitely preferable.

Money in itself is useless, it's the choices it gives you that changes everything.

I delayed getting into this for a few days because there are some very interesting things I want to talk about.

Not just such things as working hard vs getting wealthy, or how to create millions, how to turn your life around, tithing and all the rest. I want to look at exactly what wealth is, and how to get there.

So I'm going to postpone it a few more days, and think it through. Because wealth will appear as a part of our journey, and I truly want to share every step with people as I go, and encourage them to take the risk and build a fantastic future for themselves as well. I am starting from the very bottom, sure, but I am putting eveything I believe into practice.

And very publicly.

I have no doubt I will grow, and at a cosmic rate, and I want every dang one of you to grab hold of my coat tails and come for the ride of your life.

Which means letting go....

Remember from a previous blog, if you need love, go give it, not seek it. And if you want wealth, go help someone else get there, and watch what happens. Instead of being jealous of another's success, imitate it.

No matter how bad your life is, there is someone worse off. Go find him, and help him - and watch the cosmos sweep your troubles under the carpet.

Am I postponing wealth again? Hmm....

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  • 10 steps to wealth.

    1. Spend less than you earn

    Pretty obvious. But very daunting for a lot of people, as they see this as meaning they must cut back on their current standard of living. Not necessarily. Look at two things. Firstly, how can you increase your current income - and DON'T spend the increase! Secondly, take a good look at exactly how you are spending your money right now. Spend a few days writing down every time you spend a cent. Boring, yes - but VERY revealing.

    2. Make your money work for you

    So many people never start saving and investing because it takes just so damn much capital to get to the point where you can stop working and live on the interest. But there indeed is the answer: 'interest'. The power of compound interest is staggering. Google around and you will discover it is possible to reach that level in a great many years fewer than you imagine.

    3. Get rid of debt

    Those credit cards are working against you, not for you. Your first step - goodbye debt. And after you clear this hurdle, you will be amazed at the speed your savings grow.

    4. Automatic deductions

    If you don't see it, you don't spend it. And if you never had it, you never miss it. Each paycheck, automatically divert a percentage to a savings/investment account. You very quickly get used to living on what you get in the hand.

    5. Set goals

    Set realistic goals. You can have a lot of fun in meeting them. There is real pleasure in watching your savings grow.

    6. Choose your pathway to wealth

    There is no one best way. Different people have different skills, ideas, personalities, needs. Consider these pathways:

    Making money from new innovations
    Making money through uniqueness of personal brand
    Making money through your contacts
    Making money through the creation of deals
    Making money buying low and selling high
    Making money by holding assets that appreciate in value over time
    Making money by controlling cashflow producing assets
    Making money by creating systems and procedures that 'automate' a business

    7. Self interest is insufficient motivation

    I touched on this in 10 ways to get started. It takes enormous motivation to stay on task to get wealthy. If you are doing it for you, for your family - many times the effort just won't seem worth the wait. It will help to have a cause: Increase the quality of life. Right a wrong. Prevent the end of something good.

    8. Provide value to others...

    ...and the money will follow to you. A simple idea, but the best money ideas ARE simple.

    9. Ignore the naysayers

    Your wealth is bound to make a lot of people jealous. They will attempt to sabotage you at any opportunity. Don't ask me why they spend so much energy in attacking and criticising those who are wealthy. They would be better served, and use less energy! in copying them and creating their own wealth.

    10. Relax

    That's right, slow down a bit. Exercise, rest, relax. When you get there, you want the health to enjoy the wealth.

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