Five Ways to Develop A Wealth Mindset

LIVE BROKE 

BUILD WEALTH

As a kid, I was of the belief that people were either rich and/or wealthy or they just weren’t. You had to be a doctor, lawyer or some type of entertainer in order to have money or live good. But early in my adult life, a light-bulb went off after I read the book “Rich Dad Poor Dad” by Robert Kiyosaki. I discovered that building wealth was actually a process just like many other aspects of life. At that moment I decided to set out on my journey and make realizing wealth a real thing.

Here are five (although there are much more) ways to develop a wealth mindset that will ultimately lead you to real wealth in your life.

  1. Practice Delayed Gratification - This concept helps us to take the long approach to things in our life. It is about delaying something you can have now, so you can continue to build, grow and learn to have something greater later.  

  2. Be Selfish - Being selfish is key if you want to build wealth. You must learn to pay yourself first before any other person or company. Developing and maintaining this habit will pay dividends down the road.

  3. Think Long Term - “Rome wasn’t built in a day.” This phrase created by John Heyward over 500 years ago has become popularized and often used today. In short great things take time. It will surely take years to reach your financial goals  Wouldn’t you say that being wealthy is a great Thing? Okay.

  4. Take Care of Your Health - Nothing in the world is more important than your health. Hey, what good is having money if you can not enjoy it down the line due to health issues? Wealth can come in other forms that have nothing to do with money at all.

  5. Incorporate Other Disciplines in Your Life - Building wealth takes extreme discipline. What better way to practice discipline than to test yourself. Maybe you can take up martial arts or hire a  personal trainer. Something as simple as not watching TV or deciding not to drink alcohol for a specified amount of time are great exercises to help you work on your personal discipline.