By Dr. Steve G. Jones
“Fortune sides with him who dares.”
Everyone aspires to be wealthy… and there are reasons why:
- The freedom that money can give you can be fascinating.
- The ability to not worry about the bills…
- The ability to travel…
- The ability to finance your business ideas… It’s very promising.
- You’ll be able to fund your children’s education.
- You’ll be able to support, give, and provide.
But, how do you start your path to overflowing wealth? Here are 11 tips to give you ideas.
Before we begin, you may want to check out Overflowing Wealth program right here.
11 Tips to Become Overflowing With Wealth
1. Learn from those who have already achieved the level of wealth you want to achieve
- Who am I learning from?
- Are they financially successful people?
- What are the pieces of advice that I am often receiving and following?
Every answer here can make or break your chances of financial success.
Make sure to only follow the advice of people with credentials… оr people who are in a position you want to be in. Because only they can give you advice that would work, because they have experienced what you’re experiencing, and they found the solutions to problems like yours.
2. Take care of well-meaning advice
Following up on my first tip… We often hear our relatives, parents, friends, etc. giving us financial advice. While they really care about us, they’re not really in a position to give such advice. If they are, why aren’t they wealthy?
I don’t mean to disrespect, and you shouldn’t too. Appreciate their concern, but you should know better. Learn how to discern. Decide for yourself which of the advice that you’re receiving… is actually going to help you.
3. Learn how to invest. Including investments in yourself
Find an investment vehicle and master it. The stock market, bonds, mutual funds, etc. One thing I want to say, though is that investing is not trading. Investments are when you let your money grow more than bank’s rates… therefore, beating inflation.
This can be for your retirement fund… so start now.
Aside from that, learn how to invest in yourself. I’m talking about buying books that you’re interested in… or enrolling in courses that would make you more money… or investing time to learn new skills that can be useful…
All of these can have a potential Return on Investment. And the knowledge and the value that you’ll give yourself will pay for itself in the long run.
4. Have a wealth pathway, a blueprint
This one is important. You need to have a ‘vehicle’ to take you to your goals. What’s a wealth pathway or wealth blueprint?
This can be a business model or a niche. For example, affiliate marketing, or e-commerce. This can also be Forex Trading… or a brick and mortar business, like a restaurant or coffee shop.
Whatever it is, you should master how it works.
If it’s a restaurant, try being an employee of one first. If it’s an online business model, try enrolling on a course first so you can learn how things work. Other examples include real estate, freelancing, and dropshipping.
5. Find a mentor, virtual or real
After you have chosen your field, find a master, then be a student.
This can be the teacher on the online course you enrolled in or an author on the field. Whoever he is, and it whatever way, learn from them. From their books, audiobooks, podcasts, seminars, webinars, etc. Soak them all up.
Even the greatest was once a student, and they are always a student. Which leads me to my next point…
6. Keep learning, be a perpetual student
You’ll get to the point where you know enough to execute. But you won’t reach the stars if you’ll take your feet off the ground.
Don’t be the smartest guy in the room. Always be learning. You might be able to surpass your first mentor, get a second one. Get more mentors. In whatever way, always be learning.
7. Try to make the most of your time, avoid procrastination
Now that you have a blueprint and a mentor. It’s now time to practice your discipline and be productive. Avoid procrastination. Make sure that you’re making the most of your time.
Whether it’s studying a course, reviewing materials, or reading a book. It’s time invested on your part which will be worth it in the future.
8. Find where your passion, purpose, and potential income overlaps, and do that
This is ideal, so try to do this. There’s something that you can make money from, which you enjoy, and serves your purpose while you’re alive. That’s the best thing to dedicate your life to.
9. Focus on providing value to people, not making money
The value you provide your people equals the money you’re making. If you’re all about their money, without giving value in return, you’ll find it very difficult to succeed.
Focus on giving value, the money will follow. Always try to over-deliver.
10. Save up an emergency fund
I mentioned that money in the bank will decrease in value because of inflation. But your emergency fund should be in the bank… so you can withdraw anytime you want to.
The suggestion is to have your monthly salary multiplied by 6, should be your emergency fund. Build it together with your retirement fund…and your financial house will be stronger and safer.
11. Learn to spend wisely
Finally, learn to spend wisely. Not because it’s on sale, you need to buy it. One tip I can give you regarding this is to eat before going to the groceries. So you won’t feel hungry and buy more than what’s on the list. If you can’t stop yourself from buying clothes, for example, then don’t window shop.
Don’t forget to check out Overflowing Wealth program right here!