What does it mean to be rich?
Being rich means that you can decide what you want to do without fear or anxiety about money. You can work because you want to work, not because you must work for money.
How do you become rich?
In the U.S. only a few will become rich. If you are not born rich the process to become rich is not difficult, but it is long and requires discipline. You have to make smart choices over time. For most people that is not realistic. But you are not most people. If you follow a plan, make the right choices and work hard then you will become rich.
There are several characteristics of people that become rich:
- Creation – You need to become a creator rather than a consumer.
- Investing – Rich people invest and then reinvest their money into the market or into the growth of their business.
- Repetition – Rich people often have a routine that they repeated follow.
- Network – You are only as good as your network or the people you work with. Hire and surround yourself with people that will push you to grow.
What are the steps to becoming rich?
- Get out of personal debt.
- Save more than you spend.
- Create an investment system.
- Grow your income through increased salary or growing your own business.
Rich means a lot more than money. Building wealth is only one aspect of a rich life.
What are your life goals?
- Do you want a family?
- Do you want to travel the world?
- Where do you want to live?
- When do you want to retire?
You should clearly define what your rich life looks like and then create a wholistic plan to reach those goals over time.
Wealth takes time. If you are not there it will not happen tomorrow. I am still in the process of becoming rich and I have been working on it for years. But it can be your reality.
You have to create a plan and then follow it over time. Evolve it over time as you grow. Life will happen. Be flexible. That is where the emergency fund comes in.
You need an emergency fund for all the unexpected things that will happen in life. Think of it as insurance. You may lose your job or business. You may get sick for an extended period of time. You may need money to support a aging family member.
Money does not buy happiness, but it can fix a lot of problems.
- Learn how to create your money system.
- Learn what to invest in.
- Learn how to increase your earnings.
- Learn how to create life goals.
These are all the things we will work to teach you here at You Need To Be Rich!
Everyone needs to be rich and we can get there together.