There are six key wealth basics which you need to understand to get your wealth planning on track.
Wealth Basic 1: It is a ten day camel ride!
Developing real wealth is almost NEVER a quick fix. It’s almost NEVER the easy road. It almost NEVER makes headlines (at least while it’s in progress). It’s a long, hard journey, but the rewards are enormous. It requires a lot of financial discipline
Wealth Basic 2: You must live a moderate life
This is CRUCIAL to developing real wealth. Most millionaires do NOT have lavish lifestyles, fancy cars, spending without budget. The typical dollar millionaire is well-looking person in a decent -looking neighborhood! Yet they are wealthy people in assets across the globe
Wealth Basic 3: Educate yourself
There are a number of books and e-books which are essential reading for those who want to develop their financial literacy and know how to build asset instead of liability.
Wealth Basic 4: Are you building a sustainable legacy for your generation?
You need to review your lifestyle, to make sure that your legacy out live your second generation. It is the best insurance cover you could ever have for your family and generations after you. Start NO. Tomorrow may be too late. Live your DREAM
Wealth Basic 5: Accept that your 8 to 5 job isn’t all there is!
The old days of one income stream for life are long gone these days the financial whizzes are talking about a “jobless recovery” in which people become unnecessary to generating income. There are offices today that the job of a secretary is been done by the computer. So, if you are trained as a secretary, no job for you and if you still have one today, technology will soon take it from you. Be wise! Are you ready for this? Those who are really smart try to set themselves up with multiple income streams.
Wealth Basic 6: Get a financial mentor!
Having access to sound, objective financial advice will be key to your long-term financial success. With that in mind, you should take the time to choose your financial advisers just as carefully as you would your doctor or lawyer. Your level of attainment in life will be greatly limited, if you do not have a financial mentor.
Matthew Abolurin is the Principal Consultant/CEO of Pep Access Ltd, a consulting outfit responsible for Business conception, actualization and growth, Sales and Marketing Training and HR Management. Matthew Abolurin is the President of Transformation Network International, a multifaceted Network where wisdom is given to create a life of Purpose, Passion, Peace and Prosperity.