Go From Rags to Riches

The first thing you want to do, in order to go from rags to riches is set goals.
Set reachable short term goals in every area of your life. Then, set your definite major purpose. Your definite major purpose will probably be to have one or two million dollars in assets.
Take action on your goals every single day. As Dave Ramsey puts it, get “Gazelle intense”, as Tony Robbins puts it, “total focused intensity”.
The next thing to do is live as far below your means as you can. Quit financing things. Do not waste any money. Make a budget. Quit smoking. Tell your mooch buddies to take a hike.
Next, work your heart out. Take on extra hours and extra responsibility. Be prompt. Don’t be a pain. Don’t be a slacker.
Now after you get used to all the stuff mentioned above, start studying, reading, and listening to audio CDs. You need to study small business management, investments, including stocks and real estate, business law, and anything else that will help you in your career or in managing passive assets. Get a library card and enroll in classes if you can swing it. Why should you do this? Because if/when the cash starts to come in, you need to know how to put it to work for you in passive businesses and investments. Don’t do bad deals or get ripped off and lose your hard earned money.
Think about your dreams. Your dreams have to be semi real. What would you love to do as a career or business? Learn all you can about whatever it may be. If you have an idea that could become a real business, then research and test your ideas. If your venture fails, you will still have gained knowledge and experience which you can use over and over. The real losers never take action!
Next, open a Roth IRA or the type of retirement account that is offered in your country. Do not worry if you cannot maximize the contributions at first. Save what you can in your Roth and also start to build an emergency fund. Financial councilor/talk show host Dave Ramsey calls emergency funds “Murphy Repellant”, an excellent analogy. Don’t let Murphy back in your life.
After your little nest egg reaches sufficient size, find an excellent broker. Never touch your principle!
Another thing to do is to improve your peer group. Ditch the go nowhere crowd. Let people laugh at you. You may well be kept down by a bad peer group.
Consider forming a mastermind alliance.
Don’t make excuses. Take responsibility for your life and take action every day. If you need help don’t be afraid to ask for it.
Be different from the masses. Take charge of your life now and get started. Many people never succeed because the afraid to start small.