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5 Keys to Building Long Term Wealth from Nothing
I'm going to assume you want to get rich, do it legally and do something useful with it once you've got it. The introduction of technology most social media has made making money very easy. Presently, making money has been put on autopilot. You don't need to build a chain business or buy into franchise to build long term wealth. With the internet, all you just need is an idea, internet connection and a laptop or good internet phone.
In this post, I will be sharing 5 important keys you need to build a long term wealth from nothing. You must have heard a lot of success stories of people who move from rags to riches, from nothing to millions and you're wondering when your story is going to be listed among these success story. I have good news for you! This is the post you need so you can share your own success story but please give credit to this post when sharing that story.
Let get started.....(drum rolls)
HOW TO BUILD LONG TERM WEALTH
1. Financial Education
A student goes to medical school to learn how to become a medical doctor. A student goes to law school to learn how to become a lawyer. Now, a student who want to learn about becoming rich and building a long term wealth should go to where? School of Money I guess! But where is this school of money located so one can enroll and start taking class?
This school of money is not a physical huge building with millionaires as lecturers and the world richest as the Vice Chancellor. This school of money are books, audios, videos on personal finance, getting rich and investing. There are so many school of money everywhere mostly on weekends. Those making money, investing and wealth creation seminars and workshop are examples of school of money.
Your level of financial education determines if you will be rich and how you handle the few money you have. Invest in your financial education before you even think of starting a business. It will help you a lot. People without financial education put their hard earned money into a saving account thinking that is how to build wealth for the future.
The interest on your money when you put your money into a normal savings account is not even up to 5% annually. You only enjoy interest on savings account when you deposit a very huge amount. But do you have that amount?
For you to be able to build wealth that will last long, you need to invest in your financial education. That's the starting point. Money will not make you rich because a man who is poor in mind is poor forever. Go buy audios, books and video programs on personal finance. Attend any available wealth creation seminars.
2. Taking Action
After getting the right information you need, the next step is to act on this information that you have acquire.
- Is it in starting an online business? Take action and start now!
- Is it in creating a hand-made product to sell? Take action and start now!
- Is it to go get the job that will fund your dream business? Go get it now!
I have seen so many people who have read books, listen to lots of inspirational audios and videos. And have even attended so many wealth creation seminars but yet, they are not doing anything with the information. They are waiting for the right time. There is nothing like the right time. The best time to start building your wealth is now. The future is now!
Don't let your waiting time become permanent because there will be no right time. As soon as you get the information you need, take the necessary actions toward it and learn as you go. For sure, you will fail. But the good thing is, you're making progress by being brave to act on your information.
3. Build a Good Network
You must have heard a zillion times that your network determine your net worth. It is very true! If you hang out with 5 poor friends, by default you will be number 6. Also, if you hang out with 5 rich people by default you will be number 6. Networking help in connecting you with the right person who can help you achieve your goal. Network with people who are already in the position or level you want to be, ask them how they did it, learn from them. One connection from them can be all that will make the different in your life.
4. Having a Finance Coach
You want to build wealth that will last long, then you need a finance coach. Even millionaires have money mentors. The internet has made things very easy. You can choose to follow top finance coach like Robert Kiyosaki, Richard Templar, Daniel Ally and so many others you can find. You may not see them physically, but read their books, watch their YouTube videos, read their post on social media and learn.
5. Believe in Yourself
This is one of the most important keys of all. If you don't believe in yourself, who will? If you don't believe you can be rich, you won't be rich. When you have great believe in yourself, then you have conquer the mind of any obstacles.
Have you have learnt something from this post? I would like to hear your thought in the comment box.