Want to Know the Principles of Building Wealth?
- Author Carol Carroll
- Published December 4, 2007
- Word count 737
Do you feel like it is too difficult, even impossible, to make the amount of money you would like to make? Are you frustrated thinking that there are no opportunities because the current economy is too volatile and has too much risk? Perhaps you just never get any ‘breaks’ in life, and that good things always happen to ‘other’ people. Have you ever wished you knew someone who understood the principals of wealth building, and financial independence, who would assist and coach you to achieve the success for which you are inherently capable?
The purpose of this article is to assist you in understanding some of the fundamental principals of building wealth – the same principals used by those individuals and families who have already achieved great success and wealth.
The first, and most important, thing for you to understand is that you already have within you the capabilities to achieve whatever you desire. This knowledge, together with the principals we will discuss will serve as a blueprint, and starting point for you to design the life you want and to really obtain financial independence.
Take time to study and understand each of the principles discussed below. Also understand that for you to master any sustained level of financial success you must master each of the principles. Mastering these principles in an ongoing journey which will take time, initiative, resources, and action on your part. In fact, the better you become at each of the principles, and the more success you achieve, the more you will realize that there are still higher levels to achieve. The process of success truly is a lifelong journey of joy and achievement.
You need to know that your life really can change overnight! It certainly is possible for you to have sudden financial breakthrough. There are a million ways to make a million dollars. You only need to have one of them to change your life forever. Your job is to find that opportunity and be ready to take action when you do find it.
There are many wealth building, life changing opportunities, out there. Find one that is good for you, have trust and belief in yourself, and take action.
The first principle of success is the mindset for success. This is the most critical principle. Development of the millionaire mindset allows you to manifest all of your desires with ease and efficiency. This is the principle which allows you to properly manage, and grow, your wealth once you have obtained it. If you want to be wealthy, you must think the same way as the wealthy.
Take time to study those who have created fortunes for themselves. Andrew Carnegie, Bill Gates, Warren Buffett are just a few but they are great examples of those who developed a mindset of success. How do they think differently than you and I? First of all they have a complete faith in themselves and a knowing that they will attract success, and wealth, effortlessly. Success is their only option!
The second principle of success is your external environment. This includes the physical environment you create for yourself. This also includes the people you surround yourself with. Your income will become the average of the ten people you associate most closely with. Do you surround yourself with wealth building materials, books, and ideas? Do you study and surround yourself with information from and about those individuals who have achieved what you want?
The third principle of success is wisdom. Take advantage of, and use wisely, all of the opportunities which you have. Manage wisely the assets you already have so that as you obtain more, you will be able to grow that asset into even more wealth. Wealthy people spend and invest wisely. Just because they can afford something doesn’t mean that they buy it. They always spend much less than they earn. They invest in sound investments which provide an acceptable return based on their investment goals, and they are usually contrarian investors. What that means is that they do not follow the masses. If the masses are buying they are usually selling and vise versa. The wealthy are not afraid of taking risk. They use wisdom by analyzing the risk and then make good decisions based on that analysis, but they take risk.
Using the above principles it is possible for you change your life and create the life of your design.
Carol Carroll Life Style Mentor and Successful Entrepreneur, is helping many become the next success story. Whether you're looking to create an extra few thousand dollars per month, be an ex-corporate executive, or the next millionaire Mom, Carol can assist you to create a second stream of income and greater peace of mind. For more information visit : Build Wealth
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