Wealth builders make plans to become wealthy and stick with it
One of the greatest lessons about building wealth is reading Robert Ringer’s book To be or not to be intimidated.
Ringer believes that the key to success in life is to act and live your life like the tortoise.
He sums it up with his tortoise-and-hare theory:
The outcome of most situations in life are determined over the long term. The guy who gets off to a fast start merely wins a battle; the individual who’s ahead at the end of the race wins the war. Battles are for ego-trippers; wars are for money-grippers.
How does this tortoise and hare theory apply to building wealth? The answer is easy. true wealth is built over a long period…through the compounding of wealth
You see, the first step you must take is to know where you are right now.
You must know your net worth to see where you are starting from. Once you know your net worth, you can assess how much wealth you need to accumulate until you become financially free. Got it?
That is the essential step you must take to become wealthy.
The key to getting rich is committing that you’ll…. grow more prosperous every day until you achieve financial freedom
Wealth builders commit to paying off all high-interest consumer debt.
Wealth builders create multiple streams of income …
spend less than they earn,
save more …and consistently invest their money.
Most Wealth builders know that they may fail at the start of their journey.
But They never give up.
The person with the millionaire mind is willing to make mistakes… learn from their mistakes…. and keep moving forwards.
Wealth builders may make some detours on the way to achieving their goals.
However, they stick to their original plan. They may amend their plan. But They do not change their plans.
When you make a plan to get rich…stick to your plan and work on your plan daily … you’ll eventually become wealthy.
The reason why many fail to become wealthy is that they never move beyond wishing and hoping.
For other wealth seekers who fail at becoming wealthy…. They let excuses and the fear of failure paralyze them from moving toward their goals
If you are in any of these situations above…
I want you to take counsel from the words of Sir Winston Churchill: Never give up!
To your success