Friday, June 22, 2012

How to Get Rich - The Very First Step

What do you think the very first step is to creating a wealthy future ?

Do you think it's landing a good job or winning the lottery ?

Do you think it is marrying someone rich ?

Answer = none of the above

The Starting Point


The very first thing you must do is create in your mind a "burning desire" for whatever it is you want to achieve in your lifetime (financially, that is) You must make this burning desire so intense that you will be able to sacrifice other things in order to achieve it.

Chances are if you are reading this, you already have a strong desire to become wealthy. But what is the very first active step you can take to turn this desire into reality ? It is something extremely simple yet unobtainable for many.

Step Number One


Realize in your mind that you are entitled to keep for yourself at least ten percent of all income that you bring home. This amount that you are entitled to keep for yourself must be stashed somewhere safe before paying any of your everyday expenses. It may seem that by doing this, you are being greedy or selfish, and in a sense that is true. However, who is doing all the hard work to earn this income ? That's right, you are ! Then do you not truly deserve to keep a part of what you earn just for yourself and nothing or no one else ? Of course you do!

Keep this amount in a bank account that you can absolutely not access with your bank card. You must ensure this amount is extremely difficult to access and should only be used for future investing. Period.

Why Most Will Fail


Most people will never become wealthy simply because they fail to take the very first step that is needed. For whatever reason (and there are many) they don't feel that they truly deserve to keep a part of all they earn for themselves. They are easily persuaded or distracted by other things or other people that seem more important at the time.

Some will start off well, but become discouraged or distracted. They dip into their savings "just this once" to buy this, that or the other thing. The problem is, this dipping will become a habit that is very hard to break.

Another problem is that a person's income may only be enough to cover everyday living expenses. In this case, the person must reduce living expenses or increase income (or both) in order to take the very first step. Simple in principle, but an overwhelming obstacle for many.

First Step is The Hardest


The first step to building wealth is the easiest yet hardest step. It's easiest in the sense that you merely save a percentage of all income. Period. It's hardest in the sense that it can be a very hard discipline for most people to maintain. There are so many distractions that can take your focus away from what you truly desire for your future.

Take the first step today (if you haven't done already) and focus on your future. Become strictly disciplined in this step and you will have a future of wealth far beyond your imagination. Simple, yet hard.

As always, I welcome your comments and suggestions for future topics.

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