How To Build Wealth And How To Reach Your Financial Freedom
For a long time I have been thinking to my self, how can I
build my wealth?
In this article I will present my answer to this question. If
you have a steady job (maybe even two), with long working hours
each week, this article is for you. You will learn the steps you
need to take in order to build your income and control your
financial world.
It had all begun, when I realized that I should do something
more, to generate extra income, but what? I also realized, that
there aren't enough hours in the day to take up extra work in
another job and even then, how much more can I earn? Out of
multiple jobs or from working over time, I will not triple my
income or make enough money to start building my wealth.
So what should you do? How do you actually become rich? Does it
happen only by getting an inheritance, or by passive income
generating from many assets? All these are great, but I don't
have them - yet. Then, I discovered that I should start thinking
differently and start doing things in a different way than the
way I did things until now.
The answer to "how to become rich" begins with this basic
equation - the total of all earnings should be grater then the
total of all expenses (you must know that equation). Although it
is a simple one, the human nature does not enable its existence
in a proper way. If it is on account of habitual expanses or the
aspiration to modernize the living standard and its quality, if
for ourselves or in order to provide the competitive-social urge.
In order to become rich, a number of conditions should be
met:
1. You need to start thinking like a rich man, i.e. to know at
any given moment how much money do you have and how these funds
are distributed - Is it allotted to luxury, to expenses of
sustenance, or on investments, etc.? (you can do it by reading
Kiyosaki's book "Rich Dad, Poor Dad")
2. It is up to you, to acquire a suitable education in the field
of money management in the most basic level, such as, How to
leverage your extra money (there is always extra, "luxury"
money, it all comes down to the question of preferences)? You
need to learn how to manage risks in online and offline
investments, the stock exchange or even at your own bank. Then,
with that "luxury" money and with the proper leveraging, you
will be able to invest in opportunities that will yield a
passive income on a monthly basis for a meaningful yearly extra
income.
3. Last but certainly not least, you must take the first step
ahead and decide to implement sections 1 and 2. You must
understand, those two simple (but hard to do) sections, are the
only thing that separates you from having financial freedom.
No, it is not easy and also requires great courage, therefore,
95% of the population remains only with the desire to be rich.
If you didn't inherit large amounts of money or assets, you need
to know that to become rich or a millionaire, does not happen
over night. This is a process you should endeavor for and build
gradually by thinking and planning for the long run in order to
succeed; But it is definitely possible.
If you will not make any changes in your present carrying on, in
another five or ten years from now, there will be no drastic
change in your financial status. The good news is, that you can
implement the steps described above, change your expanse habits
and your financial decisions and make the dream to become rich
come true.
Who are those rich, millionaire people? They are people like you
that have the courage to think and do things differently, they
don't necessarily have high education or have received a big
inheritance. They simply dared to think on a major scale and
took the risk, which lies within the change itself. I have
realized that not everyone wants to be rich and not everyone
should be rich, but if you imagine yourself with financial
freedom and dare to dream, you should know, it is within your
possibility to arrive there.