Not only making it rich, for achieving every success in life you need right attitude. “making it happen somehow” doesn’t really work. “making it happen by doing such and such” works most of the time. Obviously I am talking about setting goals and having proper plans to achieve the goal. I know you want to be rich, so am I. But, do you know exactly how you want to be rich? Let’s discuss in details.
I want to start with a disclaimer, I am not rich, at least not monetarily, yet. These are my views only, not proven and I am not aware if any one got rich following what I am going to describe here. So far I have talked about becoming rich by creating value, by taking care of your health, by effective time management, having an obsession to become rich and I also showed with calculation how saving 1 hr of wage daily can make you rich over time. Here, I will touch upon human attitude that clearly differentiate a rich and a middle income earner.
We know about people with tremendous potential ending up a mediocre. I don’t want to remain a mediocre life long, I want to make it rich one day. While enjoying life, wearing latest brands and vacationing to memorable places, I want to continuously grow richer, monetarily, socially and emotionally. I am working on my attitude ever since I realized.
While attitude makes one to be richer, however, on the other hand, attitude makes one fall from richness as well. We hear stories of one-day millionaires, broke sport persons. They capitalized on the something they don’t know and spent all their earning foolishly. Their attitude prevents them from keeping their money safe, there attitude makes them blind to the fact that one day their income potential would cease.
Remember this, your money alone won’t make you rich, but it is your attitude that will push you up the ladder of prosperity. It is having the appropriate perspective on finances that will make your money grow and continuously growing.
How can just a change in attitude can make you rich?
There are really two ways to make it rich. One, by opening larger income stream(s) – by having extra income or by reducing your expenses while trying to increase salary. I’ll state why attitude is important in both the ways.
Remember the parable of the talents in the bible?
One of the slaves just put the coin into the soil and wait for the master to come. Meanwhile, the other slave used it so it will earn double, triple, and quadruple. The master was impressed with the slave who invested his money but disappointed to the one who just keep the coin into the soil underground.
An attitude to have patience, where you don’t go after every phone upgrade or do not trade in your car every 3 years is important factor in how quickly you can accumulate wealth.
An attitude to work smarter plays an important role, does your quest for money starts at 9 and stops at 5? What productive work you do outside of regular work hours? An attitude to put money to work and make it grow by taking calculated risk determines how quickly you can make money.
If you start a business, an attitude of creativity, taking care of customers and creating value for them make your business thrive.
Need I say more?
Having the right kind of attitude will make you rich. No matter what status you have in your life now, it is time to have a shift in attitude if you think you are losing you way to being rich. Here are some points to consider so you can move yourself up to the ladder of success.
Start on Yourself
How organized are you? Are you good at managing your money? Do you keep track of every item on your credit card bill? Can you identify the expenses by looking at it?
If you want to start a business to earn money quicker, start by asking these questions to yourself. Gauge how prepared you are to manage your business successfully.
Financial advisers will ask, “What will you do if someone gives you $1M at this moment?” Sad to say, many failed to answer in speed after they were asked about this question. Some just shrugged their shoulders, some laugh with unbelief, and some took time before they were able to answer. These gestures are just indicators that you aren’t ready to be rich.
So if you haven’t contemplated on this question yet, now is the time. Make a list today, what you’ll do if given $1M now. Once you answered, have a look how many of those are about spending the money in an depreciating asset and how many are investment towards appreciating asset.
Now, let’s say you want to make it rich by having the same day job, now ask you yourself – Can I make 5% more by next year? Can I go one level up in another 3 years? Can I switch job and earn 10% more than what I am earning? Do I need to get further education to move a level up?
Now based on the answers, chart a plan of action then stick to it, take expert advice, get a mentor at your work who’s at least one level higher than you.
Adapting the Attitude of the Rich and Famous
No wonder Warren Buffet lives in a home built in 1960′s. Many celebrities are penny pinchers. If you will research on how these rich and famous live their lives, you’ll be surprised. These people are the ones who do not spend even a cent if not needed.
They live within their means that’s why they have a lot of savings. They are not greedy spenders and they think a thousand times before they buy on something. These rich and famous people are usually the epitome of financial stewardship. They can spend because for a time they saved their money.
Other significant trait in them is exceptional knack of investment. Thinking long-term is the key to me.
If your attitude is to show off your car or your home or even your clothes, you probably take better care of the cars, the home and the clothes you wear and make them look nice and clean, rather than replacing them before they die a natural death.
Did you replace your last smart phone because there was a smarter phone in the market or because your old phone stopped functioning?
Did you get what I meant?
Again, it is not only to invest; it is to invest wisely. Taking time to study the financial market is a good strategy. You will have knowledge where to invest your money and how to make it grow. If your attitude is to only keep the money safe, then you can park all your money in a saving account or a CD. But, in long term you’ll lose money to inflation.
Invest with a proper goal in mind, have patience, do not react in panic. Do not short sell your investment, just because there’s a gloom in the market. This requires change in attitude where you become a risk taker.
You can’t become rich quicker without taking risks. Do not be reckless either, you need have balance.
Are you satisfied with the current rate of wealth accumulation? I know you are not, no body is actually. So, in that case, can you increase the net worth 10% by next year? Ask yourself. If you can, then set a goal and make a written plan to achieve the goal.
Now, see how many change it attitude the plan requires. It’s a not one task or a set of jobs that you’ll need to do differently, its about the whole attitude that needs to be changed.
|SB is a husband and working as a software professional for a Fortune 100 corporation in Florida. Thanks for visiting the blog.
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