For most people creating wealth will be an exercise in patience, diligence, and discipline. You’re playing the long game, after all. Setting healthy spending, saving, and budgeting habits early on will ensure that it will be less painful down the line.
There are several wealth creating advices out there but I chose these seven because of how odd they appear -yet simple to work with.
- Build Networks. Go to places and events where people are doing big and interesting things. Have conversations make yourself available, and make genuine friendships. People will tap those they like over other people when they have opportunities. It is called social capital.
- Do not go into debt over foolish things. Wealth is a game of accumulating and deploying resources — which means you never want to “risk” more than you’re willing to lose.
- Change your mindset. Do you know where competition is steepest? In the middle. Very few people actually shoot for big things, they aspire to common thing, there’s nothing wrong with that, but it shows you where most people are; and why you should avoid. Success won’t always look like you think it will, and neither will opportunities. Be open to moving from where you live, taking some chances, and being uncomfortable.
- Expose yourself to wealth. This may sound odd, but seeing what is possible will open your eyes if you haven’t seen it before. A few things you’ll note that will expand you: what’s possible, how much money is out there (it’s not rare), and that most of these people are not special in any way.
- Make More Money and Spend Less: If you want to increase the amount of money you can deploy into investments, build other streams of income.
- Don’t listen to people’s opinions. A lot of people give advice they think is good – for them. Follow your own heart and your own drive. Know what you want to do? Read the people who are doing just that, and find out how to do it yourself.
- Be persistent. There’s a saying that “rivers don’t cut through rock because they are powerful, they cut through rock because they are persistent.” Just keep going.