How To Become Wealthy For Life

So, you want to be rich? Who doesn't? Even rich people want to be more rich. I'm going to guide you on how to do this. Now, I'll be forthright, I'm not rich myself, and you may now be asking yourself "why would I want to listen to someone who isn't actually rich themselves?" I'll tell you why. I may not be flowing with money right now but I will be, that's not just positive thinking, that's a guarantee. Think of it as reading the wisdom of a regular guy and future billionaire.

If you're still reading that's good. You're past the first hurdle of doubt and skepticism and are on your way to your new life as a wealthy person. First let's get to that, the difference between rich and wealthy. Now, this isn't a definitive dictionary definition, this is my own interpretation that I believe to be very accurate and you can tell me what you think.

Rich or Wealthy? We've already agreed everyone wants to be rich but not everyone thinks "I want to be wealthy." In my opinion, being rich is having lots of money, people that win the lottery become rich, people that have or make lots of money are rich, people who inherit lots of money are rich. Wealth though, is the knowledge of being rich, it's the dedication, the habits, the ideals and the principles of money. It's not about just the dollar amount, it's about how to create that dollar amount and make it grow forever. The difference in summary then would be, one is having a dollar amount regardless of how it was achieved and one is the knowledge of how to create the dollar amount over and over again. This doesn't mean being rich is bad, it just means being wealthy will allow you to be rich.

Being Rich Isn't Having Wealth But Being Wealthy Means Being Rich!

Becoming wealthy. Everyone has to start somewhere and though you may have tried before or are in the process now, I can guarantee that if you follow these steps and truly put your heart into it you will be wealthy as well.

As stated earlier, wealthiness is a dedication, a new state of mind, a knowledge of money and how to create it. When I say create I don't mean working more. The first thing people think when they need more money is that they need to work more or get a better paying position or job. I hate work. My grandma told me to never use that word, sorry Ma, but I do, I hate work! And through my loathing of the subject I've found that the most wealthy people in the world don't work more ardious hours or look for higher paying jobs, instead they look for ways to create more money for themselves without working more. Now don't get me wrong, they work insanely hard and have a dedication to their work that is unparalleled but they don't work longer hours or harder they work smarter.

Knowledge is power! Read as much as you can. Find books on personal finance, wealth, money management, there are some traditional books that almost any wealthy person has read: Think and Grow Rich is a good one I've read and it gives you the right mindset and values needed for wealth. Rich Dad, Poor Dad also one of those classics that gives you a different look at making money, not working harder but smarter and creating wealth. Both listed below.

Down to the nitty-gritty of wealth. The learning is never ending, you'll start to want to know more about more and find new and different ways to keep growing your wealth. There are some steps though that you have to first take and reading this hub is definitely a great start.

Change your mindset. You have to want it more than anything and then create habits through that want. The following is not an exhaustive list but are the main habits of successful people that has changed my life and set me on the path to wealth and will do the same for you.

Create tangible goals and then work backwards to achieve them. When you were a kid and you thought you could do and be anything, you were right! Ask yourself what you truly want in your heart, in my case it was wealth, I know in my heart I will and HAVE to be wealthy. Then work backwards, what do you need to do to achieve your goal? What is the timeframe you want it achieved in and what are the little goals in between that you need to achieve to eventually reach the main goal? Write ALL of this down and keep it somewhere! Revisit it every month or every time a small goal is achieved. Goals and planning them allow you to realistically see what you need to do to get to where you want or what you want.

Wake up early, have a big nutrition filled breakfast and go for a walk, jog, run, read or do something that is educational. How will this directly help you wealthy? It won't but it creates a positive habit that not only is healthy for you but allows you to start your day right. If you are rushing around keeping your regular routine doing what you usually do you will stay exactly where you are. If you're already doing this good, add something in that is a positive change. It doesn't have to be big but it has to be a change that you create a habit.

Go to sleep asking yourself "have I moved towards my goals and learned something today?" and make sure the answer is yes. If you go to sleep at night and before you do you ask yourself this question and the answer is anything but "Yes" you've wasted a day and you'll never get it back. That should be enough said. Make proactive moves forward.

Become more financially aware. This isn't budgeting, I touch on that below, this is just becoming smarter with your money. Does your bank or credit card charge you fees and if so how much have you lost on fees in the past year? This really gets me heated, we put our hard earned money into the bank a savings or chequings, the bank then invests this money and makes money with OUR money and has the audacity to bloody charge a fee for either having the account or using it. There are a lot of banks out there that have NO FEES. Doesn't matter where in the world you live use the internet and figure out which bank doesn't charge fees that is near your location and switch everything to them! I can't stress this enough, stop paying other people to get rich making money with your money. It's like paying someone to stab you in the back, it doesn't make sense, stop doing it!

Create budgets for yourself. This is similar to creating goals for yourself but goals for your money. If you have savings great, look into investing and start. If you don't have savings start saving and once you have two months of money you can live on comfortably with all expenses paid, look into investing and start! Investing doesn't mean the risk that most people associate it with. There are different levels and it can be very safe. Look into it, talk to a financial advisor and start creating some investments that make your money work for you! I love dividend funds as they can not only grow but pay me as well but do your research, talk to professionals and figure out what works for you. Just don't leave your money sitting in the bank because it's doing nothing but making other people rich and that should make you mad.

Look for opportunities that create income rather than take income. My goal is to be a real estate tycoon with investment properties all over the world that are bringing me income for the rest of my life, I just sit back and enjoy the fruits of my properties. To get there I have a ways to go, yet I know what I need to do and am doing it to get there. In the mean time, I look for things that I can do short term like dividend funds, peer to peer lending, stocks, TFSA's and even just small things like getting away from unnecessary fees.

Force yourself to be more positive and surround yourself with like-minded, positive, supportive people and stay away from anyone and anything that doesn't fit that criteria. There will always be nay-sayers and those who put you down, in fact I'm sure you can think of a few of those people now. Stay away from them, they are toxic to you and your goals and will always pull you down.

Everyone fails, don't worry. Just get back up and move proactively forward. If it can be fixed, fix it, if it cannot be fixed then stop worrying about it, learn and move forward positively. It is our failures that educate us and allow us to grow as an individual. If we never did something and failed we'd never learn how to pick ourselves up or learn from our mistakes. The failures in life are the foundations of success. It's how we learn to be defeated and it's what lights the fire in us to get up, learn and do it again better.

The above isn't a get rich quick scheme, or maybe it is. It all depends on you and your individual situation but the one main factor is YOU. If you create positive proactive habits and goals that move you forward in life towards your goals, big and small, you will become wealthy.

Stay tuned, the above are the habits needed, as I said, I'm still on the journey myself but there's more yet to be said. I'll have some other articles up soon on some tips and tricks to maximize your savings, get rid of fees, my guide and choices for dividend investing, how to get out of debt, and a few other topics that I have found to be helpful for me. And remember that it's never too late to start. Money is simple and you can always teach an old dog new tricks about money!

If you have any specific questions, stories, habits, or any topics you'd like me to cover please feel free to message me or leave a comment. All I request is that all comments and criticism must be constructive.

Thank you for reading and good luck with your own journey.