Want To Build Wealth? Do These 3 Things First!

The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.

-Bob Marley

Gentrifanatics! You’re back where you belong!

If you’re like me you’ve heard a million different opinions on what you should do to start building wealth.

A lot of those opinions were probably good advice, and just as many not as good!

I’ve heard it all from making sure you pay off all your debt to starting an investment account with your next fifty bucks.

Of all the advice I’ve received I can honestly say that I tried it when I was told about it but somehow it never panned out.

I’d pay down my debt just to find myself in debt again (this time with a higher credit card balance to rack up)!

Investment accounts would be opened and then emptied when I thought I needed the money for something.

All the things I tried were not the wrong things, just at the wrong times. That’s why, in this post, you’ll learn the three things you need to do first in order to start building true wealth.

Define Wealth

Before you can start building wealth you need to define what the word means to you personally.

A quick Google search says that wealth is an abundance of valuable posessions or money.

Just guessing but I think the majority of people in the world define wealth this way. I know I used to.

Now I can’t sit here at 6am on this train typing this post into my phone and define wealth for you, wherever you are.

What I can do is caution you if you choose to consider posession and money wealth.

This definition is dangerous because it is limited.

Which type of possessions would make you as an individual wealthy? How many would you need?

How much money would make you as an individual wealthy? Is it one lump sum, or is it a stream of sums coming in monthly over a lifetime?

You have to decide for yourself what wealth means. Maybe it’s a big house, a Bentley, and a Rolex.

Maybe wealth to you means 30 passive income streams generating $30k per month in passive income.

Perhaps having enough money coming to you passively for the rest of your life so that you’re free to do whatever you want with your time?

However you choose to define wealth, make sure you’re specific. Its crucial to know what wealth means to you before you set out to become wealthy.

If you dont figure this step out for yourself it’s likely that you’ll strive for someone else’s definition of wealth, which will never fulfill you.

Why Wealth?

So you came up with your unique, specific definition of wealth.

That’s great!

Now why do you want that?

You have to seriously sit yourself down and ask yourself, “why do I want to be wealthy”?

Wealth, what is it going to do for you? If you tell yourself that you want to be wealthy so you can buy this or that then you need to reevaluate.

Be honest with yourself.

Do you want to be wealthy to impress other people?

I know that used to be my reason. I wanted everyone to see that I was a success. I thought that it validated me as a person.

I was wrong.

DC rapper Wale said it best, “most people out here living for opinions”

Don’t do anything for anyone else’s opinion.

My mindset has shifted from being interested on the things I can possess, to being focused on the time that I can make truly mine

Wealth has the ability to give you complete control over what you do with the hours m, days, and months in your life.

Wealth Education

You know what wealth means to you and you know why you want it.

Now you need to learn the language of wealth.

This way when you come across wealth building strategies you’ll know what’s going on!

Educate yourself. Put yourself around people who are successful and study their methods and routines.

4 Easy Ideas in 2018 To Help You Cure the “Working For Someone Else Until You Die” Syndrome

Even if someone is becoming wealthy in a different way than you would like to its still possible to learn from their processes and systems.

Read!

You have to read and listen to as many books as you can. You’ll learn the wealth lexicon as well as different perspectives that you can use and incorporate into your own strategy.

Remember, education doesn’t necessarily mean getting into debt by going to an expensive college to learn things that you’ll forget as soon as you get that manager position at enterprise rent-a-car!

This is the information age. Knowledge is abundant and free. But that is also why you need to learn and retain as much as you can. Information is available to everyone these days. There’s no excuse not to learn! If you dont, trust me, someone else is, and they’ll use it to become wealthy.

Recap

Do these three things first to build wealth:

1. Define Wealth

2. Why Wealth (Why do you want wealth)

3. Wealth Education (Learn the language of wealth)

If you ever need help on your journey just HMU, I’ll be around!