think having more money will make them more stressed. They may feel like there is a fixed amount of money out there and they’re waiting for someone or something — the government, an inheritance, a future husband or wife — to save them. In reality, wealth is there for you. You just have to make it a priority, and just like any other goal, there are multiple ways to achieve it. You have to create a plan that’s right for you, stick with it, and stick with it long enough. Wealth building is a process that grows incrementally. First, slowly, then faster and faster. But oftentimes, impatience, and focusing on the small pleasures of today, keep people from reaching their wealth potential. Let’s go back in time to 2001, when the iPod was released for $399. What if instead of buying the product, you had used that money to buy Apple stock? Today, that stock would be worth $58,000. Think about the Amazon items you buy on a daily basis. What if you bought the stock instead? Shift your mindset to choose later over now. Recommended Exercise: Pledge to take 15 to 30 minutes of your day to focus on educating yourself instead of entertaining yourself. Between books, podcasts, and mentors — a slew of resources exists when it comes to wealth building. Imagine how much your bottom line would change by simply learning 15 minutes per day over the next year.
Myth: There are shortcuts to wealth building. Fact: For best results, I have to commit to the long game.
Short-term solutions aren’t real solutions. If you’re ready to change your life, commit to the long game. If you are ready to build your empire, phase out distractions and focus on seven steps that will completely change the game: Reality check: Where are you on your financial journey? How much debt do you have? How much income? What’s the value of your assets, and what is your net worth? Retirement check: Are you on track to retire? Do you know how much money you need for your retirement? Saving up: Strategically reduce expenses and live on less. This will allow you to pay off debts and start saving. Student of wealth: There are many concepts, equations, and models that can help you become wealthy. PLACE and the “Win Make Give” podcast are both fantastic resources. Increasing income: Whether you work for a company or are
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