Becoming a millionaire and creating wealth requires change of mindset. Wealth management is unfortunately not taught in schools. For this following steps shall be useful:
1. Education: educate yourself to succeed. It is important to know that a small percentage of population is wealthy, because they have taught themselves that to become wealthy it is better to have their own business rather than to work for others. The education can be through attending seminars, reading success stories of wealthy people, observing and following how and what way wealthy people think and act etc.
2. By aligning with successful/wealthy people: this shall give you enough opportunities to know how they create wealth. Most successful people haven't become successful without finding a mentor. True millionaire live below their means. They do not believe in show business, and do not display unduly high social status. Millionaire motto is "You are not what you drive"
3. Adopt the habit of regular savings. Spending more than you earn can never take you to level of millionaire. A small amount being saved every month over a long period can grow to fabulous sum.
4. Invest in assets and review the return on these periodically. An asset must start giving some good return over a reasonable period. Earning residual income from the assets must be the ultimate goal.
5. Enhance you capability to earn more. This can be done by improving skills, education and exploring new business areas to invest.
6. Learn to evaluate the return on your every investment. Investing requires more wisdom and unless you are sure to get due return on investment, think deeply the need to invest. Just for the sake of having something, whether needed or not, is not a good approach. The need and then use must be well established.
7. For success in any business or profession remember the Word "KASH"
Where K stands for knowledge,
A stands for aptitude
S stands for skill
And H stands for good habits
8. Teach your children how to fish rather than to eat fish: The wealthy people do not pass on their wealth easily to their sons. They rather believe and teach their children how to earn and grow wealth.
9. Know more about taxes and its laws. Lot of income is parted off though paying off taxes. Many people do not spend time and do not acquire the adequate knowledge of saving taxes through legal means, and hence end up paying unduly high taxes. Hiring a good tax adviser, is a very good idea. The amount of fee to such expert shall be worth as it may save you much more taxes.
10. Healthy food habits: Know more about your body and be careful in eating. Wrong food habits can make you unduly sick and can make your life paralyzed, thereby reducing your earning/working capability drastically. Hiring the services of a good doctor/dietitian may also be considered.
11. Keep adequate health insurance: it is essential to have sufficient wealth for medical care in case of illness/accidents etc. For this, sufficient health insurance always be there, failing which, one may come down from wealthy person to a poor one.
12. Spend some time to exercise regularly to keep physically fit. Out of 24 hours, at least 1 hour must be spent on maintaining good health. Devote time to physical exercise/jogging, brisk walking/Gym going etc; and preferably under the supervision of a health expert.
Good health is the biggest asset of a person, without which, any amount of wealth generated, shall be of little use to the person.
13. Do donate some part of your wealth to charitable institutions periodically as per your capacity; Believe it or not, the wealth donated to charitable institutions, gives lot of happiness and more meaning to one's life. The wealth of the person doing so, gets increased by the blessings of the God.
14. Learn newer and latest technologies and adopt the same either yourself or through experts. More the latest technologies you adopt, more becomes your productivity and efficiency. In lesser time, you can produce more, and hence, can generate more wealth.
15. Maintain good working relations with all concerned. This is essential, as you shall need the help and support of concerned persons in building wealth. Try to help the concerned persons and in return you shall get the needed help. A single enemy can be more dangerous than many friends.
Learn my life-changing Free training to create ultimate wealth & time freedom in your life at my Website
To Your Massive Success
Devendra Patel - Internet Marketer & Coach
http://devendrapatel.net
Article Source: http://EzineArticles.com/?expert=Dev_Patel
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment