What are you really trying to achieve when you say you want wealth? It’s not necessarily dollar bills. It’s the feeling of security, freedom, passion, experiences, relationships, and desires all rolled into one. Is it possible to achieve these feelings even before you become “rich” in dollar bills? If so, you’ve achieved what we’ll call true wealth.
Your first step on the path to being wealthy is to believe that wealth is there for you to find—it’s not reserved for a select group of people. Literally anyone can be wealthy. Many have died in pursuit of riches, not realizing they were some of the wealthiest people alive. Yes, building and growing money is a tremendous bonus that brings ease in many areas of life. But if you never have self-awareness, you’ll never attain wealth. Here are four things you can do to count yourself among the wealthy.
Don’t spend time on things that don’t align with your true wealth
It’s easy to get caught up in how society defines wealth. Underneath the hype of having money what many really want is the courage to live a life true to themselves and not the life that others expect of them.
You can change the conversation. Wealth can be whatever you value most; be it family, travel, solitude, or adventure. Getting there requires you to define your values, assess how you spend time, and plan your activities to match up with what you truly value. For example, if family is the top item on your list, ask yourself why you watch so much YouTube or spend so little time with family. We’re not being judgy; just offering an opportunity for contemplation. When you’re self-awareness allows you to act on your priorities. You’re on the road to wealth.
No two people will have exactly the same wealth, because not everyone wants the same things out of life. But the wealthy will not spend time, money, and resources on something that is not an absolute value to them.
To redirect your life and focus, take a few minutes to actually write down what wealth means to you. Make sure you are writing down thing you love to do (ACTIONS) and not material things like boats, planes, fancy cars etc. that most people put on their vision boards.
Don’t set too many goals
The road to wealth should be easy. If you are running around like a chicken with your. . .well you get it. . .then you are definitely moving, but not in the direction of wealth. Defining too many things you want to accomplish actually creates a distraction. Warren Buffet recommends you write down 25 things you want to accomplish—then circle the top 5. Then he says, “Everything you didn’t circle just became your avoid it at all cost list.”
Live with “sophrosyne”
To live with sophrosyne (Greek word pronounced ‘suh-fros-uh-nee’) is to live simply, have self-control, knowledge, and balance. In essence it’s to know the difference between what you really need and what you want. Today most of us have our basic needs for food, shelter, and clothing met. We get all twisted up thinking we need something when we really don’t. When you can figure this out (even if you buy it anyway) you find wealth. Chasing riches with the intent to live in excess isn’t inherently wrong, but it should be your driving force. If so, you may find money and temporary pleasure, but you will not find wealth.
Don’t confuse sophrosyne with self-denial—it’s more like knowing your limits. Make a goal to set aside some money for a splurge in moderation.
Take educated risks
Regardless of where you are situated financially, it’s always time to put your money to work for you. When you’re educated and willing to take reasonable risks, that’s when you’ll make bigger strides in your finances. Sometimes taking a risk can be a resolution greater than money. Creating wealth means creating a legacy. Money is a natural consequence of educated actions in the pursuit of purpose and passion. Any investment you make is going to be a risk. However, you can offset some of that risk by learning and gaining knowledge.
“Risk comes from not knowing what you are doing” – Warren Buffett.
“The joy and fulfillment found in the process of achieving your dreams and living with passion is often confused with the result of being rich. Do not measure your life’s journey to success with the fickle accompaniment of monetary and riches. Your journey should be measured by the memories gathered, not the receipts; the moments spent in passion, not cash; and happiness shared, not bought.”
Revised from 7 Common Mistakes On The Journey To Being Wealthy, Lifehack.
Now that you’re wealth strategy is in place, let us help you figure out your financial strategy. Our goal at Paradigm Life is to help people find their personal definition of holistic wealth. We want to share a model with you called the Perpetual Wealth System that allows you to grow your wealth, access cash value, and leave a legacy for your family. We know a way you can create your own nest egg that grows while you have access to it.
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