Building
Success and Prosperity Exactly
Building Success and Prosperity Exactly
Prosperity, wealth, is something that
almost everyone in the world seeks, yet find it hard to attain for
some ÿstrangeš reason. Money issues is what we do much of the time,
yet it is not taught in schools. When we are busy doing marketing,
web design, or any sort of work, job or business, we are simply
working on issues related to wealth and prosperity in various forms.
Here, then, very quickly and directly stated and explained, are
the steps you shall take to have guaranteed prosperity for the rest
of your life:
Step 1
The first step in creating wealth is building Wealth
Consciousness within yourself. Prosperity
is an inside feeling that becomes expressed on the outside as material
wealth and success. Any wealthy person will tell you that. When
you are in the presence of a truly and highly successful and prosperous
person, you can feel their calm and confident presence, a knowing
that surrounds them. This is what you should first build within
yourself. And you can do it right now. Anyone can. Without wealth
consciousness, building wealth becomes very difficult, elusive and
erratic. This not a threat, it is a reality. Wealth starts within
and is evidenced outside. Your mind may tell you "I want money now,
so I want to act now, forget the wealth consciousness bit. I don't
have the time or patience for that. Just show me how to make money
and I will". That is what most people say, and they end up working
hard all their lives with little change happening in tens of years.
Life becomes a dull repeating event. You must build wealth consciousness
if you wish to start creating an exciting and glorious life and
stop living a survivor's hard life. There is no other way. Even
people who win lotteries hardly keep their newly found wealth. Most
lottery winners destroy their new wealth within a year! Why? Because
without wealth consciousness, wealth hardly hangs around.
Step 2
Once you build Wealth Consciousness
in yourself, you then create wealth using the following strategies:
1. Create multiplied independent assets and efforts:
Multiply your efforts and income by having multiple assets that
work for you 24 hours a day without needing your further involvement.
You can achieve this right now, no matter where you are.
2. Investment and growth: Take advantage of compound
interest. Even one dollar can grow to a billion dollars at a certain
interest rate and amount of time. You can never have too little
to start with. You shall also see how here.
You should combine both of these two strategies.
Have multiple streams of income and investments that grow well
on the long term.
Today, your financial life may be summarized as
follows: all or most of your income from your job goes to your
expenses and debts. That will never create wealth and financial
freedom.
Within a few months, you can change it to look like
that of a wealthy person, which is: your income goes to build
assets and investments. These investments and assets grow that
income into something bigger than it was. In this way, your money
works for you. The extra cash is then used to pay for your expenses
and build more income streams. So, you never work for expenses
and liabilities, for that will never release you. Instead you
work for assets. Then the assets work for your expenses, leaving
you free to do as you wish and to create more assets and income
streams.
Multiple Sources of Income
A very important and fundamental key to wealth is
multiple sources of income. Build multiple sources of income for
your life. Multiple sources of income are your key to financial
freedom. They are a manifestation of your dynamic, free and multidimensional
nature.
More accurately, make sure that each income stream
is a business and not a job. A job is something that requires
you to be there for it so that it can make money for you. A business
is something that once set up, does not need you to be there to
keep going or growing. A job needs you, a business does not -
that is the difference. Some businesses are actually jobs. You
may own a business that is a job for you. It needs you to tend
to it; without your constant attention, it falls. Jobs take your
time and freedom; businesses give you time and freedom. A person
with multiple streams of income from multiple businesses ends
up with free time that he or she can use to live well and to launch
more businesses if need be. Jobs never allow such liberties of
free time to diversify and be free to enjoy other aspects of life.
So, have multiple sources of income, but ensure
each source is independent of you and has been built to do well
without your constant attention. If your multiple streams of income
are jobs and not businesses, they will literally drain your life,
take away your freedom, and kill you slowly. Choose well. Love
your work, but set it up so that you can be free to choose when
and where to work, or to take time off for other aspects of life.
Remember, have multiple steams of income that do
not need you to be present for them to keep producing. To have
multiple sources of income, simply desire it to be so, make it
part of your goals, visualize and start buying books, magazines
and talking to people about it. The right businesses, investments
and sources will then simply start coming to you. And always keep
wise counsel. For everything, have a person who is of wealth consciousness
and of specialization in that area to advise and counsel you.
Learn also to trust your feelings but not your emotions. Follow
your desires, but maintain detachment. The fruits lie within the
reaching into the unknown, not only in attaining the goal. The
reaching is the key, the thrill and the growth. The attaining
of the goal is icing on the cake. It is easy.
Investment and Growth
A major key to building wealth is in making your
money work for you, instead of you working for your money. If
you work for five days in a week and spend all your income without
investing any of it, you will have forever lost those five days
of work. Forever. Wealthy people take a portion of the income
from each day and put it into investments that grow on their own,
automatically and without any further work, over a long-term period.
That way, a portion of each day that you work for money ends up
working back for you for many years to come. That is a major key
to wealth, getting a percentage of your income every day to work
back for you without your intervention.
You do this by taking at least 10% of your daily
income before taxes and bills, and putting that into a long-term
investment for a minimum of about three years.
Good investments include stocks, mutual funds, certain
types of bank accounts that have high and above-inflation interest
rates, real estate investment vehicles, bonds, royalty-producing
assets, self-maintaining businesses, and so on. These investments
do not require you to work for your money. You simply invest,
walk away, and your money grows all on its own.
Even one dollar can turn into a million dollars
in a certain amount of years at a certain compound interest rate.
One dollar, just one dollar, can grow into a million dollars all
on its own without your intervention. You would be pleasantly
surprised to know that a single dollar placed into an investment
that grows at 20% a year will become $1 million in 75 years. That
is just one dollar! All you would need to do is leave it alone,
go away, go to sleep for 75 years, just leave it alone. When you
return it will be $1 million without any effort from you, other
than your placing that single dollar at the beginning!
Now, if instead you put in a dollar every single
day into the same 20% a year growth investment, you would end
up with $1 million in 32 years instead of 75. In fact, a dollar
a day would become $1 billion in 66 years at a 20% a year growth
rate. A higher interest rate would dramatically shorten that time.
This shows you that you can never have too little
to start with. Whatever your income today, force yourself into
the habit of investing 10% of your income before you pay bills
or taxes or anything else. Pay yourself first - it is your money
and your life. And it gets even better. The 1990s was an era where
stocks rose phenomenally. In the 1990s decade, over 200 stocks
rose by 1000%, some by up to 20,000%. Many fell again in 2001
but on the long-term, all good companies always rebound to even
higher heights. People in the 90s invested various amounts and
found themselves wealthier for that. Some invested just $50 a
week, and if that was their 10%, that was good enough. It grew.
Others invested more. $10,000 invested just once at the beginning
of 1990 in certain stocks turned out to be valued at around $5
million by the end of the 90s. Others turned a few million dollars
into well over one billion in the same period. All this wealth
growth happened without any extra effort except putting money
away into the investment.
These people were not doing anything secret - they
were investing in publicly available investments. They were investing
in well- selected shares in the stock market - and anyone can
do this. You can do it as well starting now. Just remember, choose
your investments well, invest consistently, and put 10% aside
from every single paycheck or income. Consistency is the key.
Compound interest will always work for you without asking anything
from you. Your only part is to be consistent, to choose good investments,
and to stay put on the long term. Short-term investing usually
does not earn as much as long-term investing and it is usually
a lot riskier.
As you can see, there isnšt much to it. It is all
in the inside job and the outside execution. You can do both of
these starting today. No one is in a position whereby they are
unable to do anything. There is nothing you cannot be, do or have,
because it all starts within you and nothing outside you can stop
you. As Henry Ford once said, "Whether you think you can or you
canšt, either way you are right."
Article written by David Cameron, CEO ImagesOfOne.com,
author of Raising Humans and A Happy Pocket Full of Money, and
developer of the Prova LifeGoals Effortless Achiever+ and Prova
LifeMap Numerology software. These and titles such as Think and
Grow Rich, As A Man Thinketh, and more are available for download
at http://www.ImagesOfOne.com.
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