Are you one of the many people who dream of becoming wealthy someday, without knowing exactly how that could be possible with the job you have or the life you live? Maybe it seems completely unreachable with your already busy schedule.
When you hear the phrase “wealth strategy”, what thoughts come to mind?
- I don’t know what that entails
- I wouldn’t know where to begin if I wanted one
- I don’t have the money for something as serious as that
- I have too much debt to pay to think about building wealth
If any of those ideas were floating through your mind, you’re certainly not alone. But I’m here to tell you that everyone who makes any income at all needs a wealth strategy, no matter how young you are, what goals you have, the income you make, or the debt you’ve accumulated.
Unless you have an unusually financially-adept family, the majority of us never learned about money growing up, besides how to spend it. The US has become the world’s largest consumer country, which is great for businesses of all kinds, but it’s not great for your future or even your present life. Without a wealth strategy, money tends to disappear without a trace and this is a huge problem.
So we are going to end the spending madness and get ourselves to where we really want to be – Financially FREE.
Creating a Wealth Strategy Step 1 | Know Where You’re Going
The first step to your strategy is to know what you want your future to look like! Don’t limit yourself either.
Think 10 years into the future:
- Where are you living? An apartment in New York City? A condo in Miami? A tent on the tropical beach of your choosing?
- What do you spend your time doing? Do you run 7 successful businesses, sell your favorite widgets out of your garage, write about traveling the world with your dog, while traveling the world with your dog?
- Who do you spend your time with? Your ideal life partner, celebrities, old and new friends, business partners? 13 cats in your cabin in the mountains?
As you think about these details, it is important to do as the successful people do, WRITE THEM DOWN. For example, if your future includes lots of exciting travel, define what that really looks like:
- How often will you take trips?
- Who will go with you?
- What are the different places you’ll go?
- How long will you be there?
- How will you get to each place? Car, boat, plane? First class or coach?
- What types of accommodations will you stay in?
- What will you do on each trip?
And make sure to write things down that actually excite you!
The biggest mistake many people make is skipping this very vital step in their planning process. It may sound silly and seem like a waste of time, but the major reason people don’t go after their dreams or accomplish all they want in life, is because they don’t really know what they want. Even with that vague idea of “I want to be a millionaire”, they haven’t thought any further than that.