Want To Be Wealthy? Three Strategies For Success

When you start out dreaming of becoming wealthy you can flounder around for years and never have much success

. You keep dreaming and wishing for the things you want to buy when you become wealthy but it doesnt seem to be happening for you. Everything seems to be a mystery or a secret, sound familiar? Well I will unravel that mystery and let you in on some of the secrets in this article

If you want to become wealthy you must adopt some proven wealth building strategies. There are certain activities and ways of thinking that all self-made millionaires participate in. They all follow similar strategies even if they become wealthy in very diverse fields of endeavors.

So what is wealth? Everyone will have their own definition and it is important that you define what wealth is for you. For some people wealth is being able to retire and live in their home and enjoy time with family and friends and never worry about money. For others it is the big house, luxury automobiles and a jet set lifestyle. Both are the definition of wealth but from different and unique perspectives of the person defining it.

Becoming wealthy can be accomplished if you have some of the simple strategies to follow. Below I will outline 3 simple strategies that if you follow will have you on the road to your goal of becoming wealthy.

1. Define Wealth for You.

Define exactly what being wealthy means for you. Is it the jet set luxury lifestyle? Is it an ocean front villa and your days to yourself? Is it the freedom to spend your days helping others? Mother Teresa was by many considered to be very wealthy because she was able to change thousands of lives and lived her life doing what she loved to do. Only you can define what wealth is for you. Sit down and write out what being wealthy will mean for you. This definition of wealth does not mean, what other will think of you when you are wealthy or how others will see you when you are wealthy or what others want you to be in life. This definition or goal is for you, from that place deep inside that your dreams live. Until you define exactly what being wealthy is, you cannot hope to achieve it.

2. Invest in Assets.

When you are spending money that you have earned you must invest a portion of that money in buying assets. Assets are items that will increase in value over time. In my definition assets are real estate, precious metals (gold and silver as an example), stocks, businesses, and yourself. Yes, you must invest in yourself in the way of education and mentors. Learn from the best minds by reading the best books, some are available from your local public library. To quote Brian Tracy When you walk into a rich persons home the first thing you will see is a large library, when you walk into a poor persons home the first thing you see is a large television. Secondly, find people who have accomplished a goal similar to one that you want and talk to them about what they did and how they did it. Use the insights gained from these conversations to help you build a plan to achieve your goal.

3. Live within Your Means.

All of the wealthy people in the world live on less money than they make. Billionaires Warren Buffett and John Templeton both devoted 50% of their earnings to buying assets and lived on the other 50%. Actually, it less than that because wealthy people also save money from the living 50% to buy other items they want in life. This would include vacations, televisions and automobiles. You will have living expenses that you must pay but become clear on what is a legitimate expense and what is wasting money. Sit down and write out what your fixed expenses are and then see if you can save money in any of the categories. Do you really need 500 TV channels?

These simple wealth building strategies will allow you to be become wealthy and create other things that you wish to have in your life. After all, it is you that defines what wealth is all about. More than money, wealth is about living a life that is full in all areas, physically, mentally, emotionally and spiritually.

by: Mark Johnson

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