Do You Have Any Wealth-Building Goals?

Do You Have Any Wealth-Building Goals?

The money is available. People are becoming wealthy every day, no matter how many people tell you that we are in the middle of a famine economy, that the market is doing this or that, and that it is too hazardous to "play the game." That is the truth.

Of course, the challenge is to become one of those individuals.

"Yeah," you may say. "He was simply unlucky." "How likely is it that this will happen to me?" Well, nothing if you don't act on your wealth-building ambitions. If you believe you have a snowball's chance of striking "the big one" in the financial game, you are correct. This is because you are relying on chance.

It is not by coincidence that people become rich. Oh, the person you just read about was fortunate—but he wasn't "simply lucky." Because fortune favors the prepared mind, you must create the foundation in order to capitalize on opportunities when they arrive. You must be able to not only perceive opportunities, but also have the resources to capitalize on them.

Having a strategy for your financial future is part of laying the basis. What is your strategy for accumulating wealth?

If you don't have one, like the majority of Americans, you'll keep the status quo. But it's a very different story if you know that you, and only you, control your own future.

You must establish your financial philosophy, according to Robert Kiyosaki, author of the Rich Dad series of books. You claim you don't have a financial philosophy? Sure you do, even if you aren't aware of it.

Kiyosaki describes the four concepts provided for him by the guy he refers to as his "rich dad" in his book "Cash Flow Quadrant." You may identify your personal ideology by seeing how you earn your money. The E's and S's—employees and self-employed—are on the left side of the quadrant. The E's philosophy is centered on security, while the S's concept is based on doing his own thing. While neither viewpoint is bad, neither is going to help you generate much money.

The B's and I's—business owners and investors—are on the right side of Kiyosaki's quadrant. According to Kiyosaki, the difference between a B and a S is that the B has constructed a system that he can program to run itself, freeing him up for other financial or personal activities. An S just "owns a job," as Kiyosaki puts it, and is so crucial to the process that he is effectively a prisoner of it. His "baby" is the firm he founded. But, as we all know, infants are demanding, and if a business never develops into an adult that can thrive without your mothering, it will consume the majority of your time.

The key is not to create a better product. It is to develop a better product—more efficiently in terms of your own resources. Create a system, not a job. Then you'll have enough money to take care of your own requirements while also allowing you to invest.

If you already have a lot of money, you may go directly to the I quadrant—after investing in your own education and knowing how it works. Investing is perilous if you go in blind, but it's a different story if you know what you're doing.

So, start with knowledge and then grow your riches as if you were building a structure. Do not scrimp on supplies, but rather go carefully. You will eventually find yourself looking at a magnificent structure that will help you weather any storm.

If you want further support, you may benefit from my 30-minute wealth-building session. We'll speak about your financial goals, go through your current plan, and answer any questions in the following 30 minutes. This training will be educational and will help you design a better plan.

Send an email to crobinson@jci-agency.com to set up your meeting, and I will contact you.

Thanks

Citrone