Wealth is often a controversial topic with most individuals having been influenced by their backgrounds, cultural and religious views. This indeed affects their disposition to whether they want to be wealthy or not.
I often write and talk about wealth because the excuse that becoming wealthy affects people and make them behave in a certain way isn’t a good enough excuse to not be wealth-minded.
Bearing in mind that financial wealth is gradually built up from resources (people, relationships, income, talent) or the provision made available for you, the realization of your own wealth rest largely on the decisions and actions you take towards becoming wealthy.
So if you decide that you want to actualize your wealth goals here are a few things you can do:
You must first become serious about becoming financially wealthy.
This is something you can’t simply leave to chance. The idea of being wealthy must resonate with some of your values. Your disposition towards wealth mustn’t be one of “I prefer to be poor and happy than wealthy and sad.” Rather it must be one of “I want to be wealthy and happy,” both for me and my dependents. Your reasons might vary and that is fine.
You must believe that you are capable of building wealth.
Wealth is not for some select few. Anybody can be wealthy. Maybe not everybody can be wealthy (at the same time) but believe and decide that you will be in the group that will be wealthy sometime in your life.
Determine what level of wealth you are looking to have.
You must answer the questions of:
What will you be satisfied with?
How much will be able to take care of your needs and still give you options for the things you want?
What are your dreams, your passions and desires? Simply stated – What Is Good Enough For You?
When do you plan to realize it?
How many years will you give yourself to work towards accumulating the amount of wealth that you are looking for?
Do you plan to work for say – the next 10 years, 20 years?
When do you plan to retire?
What will you be doing after you’ve retired?
What method will you require to earn, multiply and accumulate the wealth you desire?
Arbitrary decisions will not cut it. You will need concrete plans so a financial knowledge of various investment or wealth building options/methods will be required on your part to enable you plan your income and get better value for the efforts you’re putting into your work.
You definitely cannot set vague goals. You must have answers for questions like:
- How much do you want to earn yearly?
- What investment options do you have?
- How much will you commit to short or long term investment?
- How much will you save yearly?
Concrete answers to these questions will guide your goal setting and action plans towards achieving your wealth dream.
So, how do you plan your financial goals?