BUILDING WEALTH ONE CHANGE AT A TIME

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Building wealth, if you are not the child born with a silver spoon or the winner of the latest lottery drawing, may come as a challenge to some.  Although your natural charm, handsome looks, and string of good luck should bring you all the wealth you deserve, it doesn't always happen that way.

Building wealth also takes more than a decision to become wealthy.  It takes a solid plan, determination, and the right attitude when things don't go quite as planned. 

Open your eyes to the opportunities around you.  After your day job, what do you do?  Are you taking classes to improve the position you're in?  Are you attending networking meetings in a field you enjoy?  Are you involved with the community?  Are you reading books that teach you new skills or add to your awareness?  What steps are you taking, besides grumbling about what you don't have and how nice life would be if only...

"The greatest discovery of my generation is that man can alter his life simply by altering his attitude of mind."  William James

The opportunities are endless.  The energy may not be.  To build wealth you will need to be in a place to make changes in your life.  As we all know if you continue doing what you've always done, you will continue to get what you've always got.  If you're ready to begin building wealth we need to look at where you are right now, determine what "wealth" is to you, and then make a plan.

Start thinking about passive income.  One way to build wealth is to think about how you can make income that doesn't require you to get out of bed each morning, five days a week.  Watch The Secret!  It may motivate you to begin thinking about what is possible.  Each person is unique.  Some like real estate, some want to make a widget, others may just enjoy running their own business.  Something is right for you - something others don't push you into.  Watch the Big Idea with Donny Deutsch.  Many had these high to do careers - attorneys, wall street folks, doctors, and more and now they're making millions doing something that they really love... why?  There had to be a better way!  Many didn't even know what they were getting into.  What's stopping you?

PROCRASTINATION - the number one reason many never achieve financial freedom.  The number two reason -- lack of knowledge, not knowing the next step to take.  Take steps NOW to learn how to build wealth then DO IT!

By looking at what you have now (like your budget and your personal financial statement) we see what we have to work with and areas we may be able to tweak.  Maybe your wealth is defined as having a particular job that requires a masters degree.  You're already working 45-50 hours a week and living paycheck to paycheck so how could you possibly consider going to graduate school?  Answer the question.  What could you do differently today that would allow you to enter grad school the next fall term?  Open your mind to the possibility that something could be done so you can get what you want.  We all have the reasons why something can't work.  Now let's look at what we CAN do to make it happen.  Take risks.  You can't get what you really want unless you take risks.  Good risks.  Step outside your comfort zone.  If you don't you won't get anything different than what you've got.

FEAR - Who isn't worried about our economic times?  When will we hit bottom?  Will I still have my day job?  Will my spouse?  How much further will my home price drop?  Can I still pay all of my bills?  There is so much fear right now that few people are taking on new ventures.  It's like we're frozen in time. 

So what do you do?  Move forward in a cautious way.  We are getting out of this slump one day or another.  Be ready to make your move when the time is right.  Take classes, make business plans, save money, network, start small... do SOMETHING to start moving in the right direction.

Building wealth takes time, attention, and energy.  It also takes sacrifice.  It takes shifting your thoughts from where to spend your money to how can you save more.  Remember, the good news is we can be wealthy.   Discover things you can do to live below your means.  Review your budget and your lifestyle.  Clear out your debt and start saving and building wealth.  

DREAM as wealth is not just about money it's about the freedom that comes with money.  What do you want to be free from or free to do?  What passion is burning inside of you?  What fears are stopping you?

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FIND OUT MORE 

David Bach has written several great books including Smart Women Finish Rich, Smart Couples Finish Rich, Start Late Finish Rich, and many more.  Visit his website at www.finishrich.com.  On Amazon -  Finish Rich

Suze Orman has a few good books including YF&B (Young, Fabulous, and Broke) This book is great for those under 40 years old.

Thomas J. Stanley and William D. Danko wrote an eye opening book Millionaire Next Door that will hopefully allow you to see what is possible for your by shifting your thinking.

If you have a little "Mad Money" then you should check out Jim Cramer at The Street (or on CNBC).

One of my favorites - Think and Grow Rich - Napoleon Hill

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