Your One Key to Wealth…or Imminant Failure

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Everyone wants to be wealthy. There’s no denying it. I mean if you had a choice between being wealthy or living on the street with a dirty can of tuna, which would you choose? It’s a no-brainer. We’d all choose wealth of course! How many of us though, are on a path to become wealthy?

Very few.

And why is that?

We must all know the steps to become wealthy by now:

  1. Earn a decent income
  2. Get out of debt
  3. Invest heavily
  4. Reinvest your profits
  5. Become wealthy

So all we have to do is find a good paying job, pick away at our debt, invest in our 401k, and then sit back and watch our money grow! Why is it then that so few of us are millionaires?

Because here are the steps we actually take in life:

  1. Go into extreme debt because we don’t know what we want to do with our lives
  2. Find a job
  3. Buy a new car to make ourselves feel better about our sorry selves
  4. Self-medicate repeatedly by buying stuff
  5. Live paycheck to paycheck until we die

Ummm, that’s quite a different story than we had laid out for ourselves initially! What happened?

It’s quite simple actually. We forgot to strengthen the one tool that was sure to make us wealthy: our mind.

Your One Key to Wealth

Only 20% of today’s millionaires are handed their wealth. 80% earn it. Chances are if you’re reading articles about how to become wealthy, you’re not expecting to inherit a pile of cash any time soon. Therefore, you have one key to wealth, and it’s all about training your mind. For you see, if your head’s not on board with your future success, you’ll never have a chance at it!

So why is your mind so important to you acquiring wealth?

Mahatma Ghandi said it best:

“Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.”

Everything that happens to you in life begins with your mind. It’s time for you to focus on your one key to wealth. Condition it with the 7 steps below:

1) Believe You Are Worthy

Do you know the difference between an elite golfer and one that’s fighting through Q-school desperately trying to qualify? Very little.

Ask the low level golfer to hit a fade, a draw, a punch shot, a hook – he’ll do them all quite comfortably, just like the elite professional. So why such a big difference between the two when it comes to success and earnings? It’s simple: belief.

Without belief, the amateur crumbles under pressure and flubs shots that he would easily execute on any other day. The elite professional believes he is worthy. He’s put in the time, the effort, believes he’s the best, and proves it with each shot regardless of the situation.

You must think the same way. You’re incredibly talented in your field, you’re personable, there’s nobody else that can execute like you can. You. Are. Worthy.

If you want to master your one key to wealth, you must first believe in yourself. It will make all the difference.

Action Items:

  • Start reading positive self-help books. It might seem hokey, but it gives you better odds than your TV sitcom!
  • Take note of your thoughts. You’re probably down on yourself more than you realize. Remind yourself of all the things you’re good at and why you’re worthy of your next success.

one key to wealth2) Believe It’s Possible

How likely is it for someone to say, “That’s impossible. It’s can’t be done?” …and then they go try it?

Never!

Nothing great is achieved by spouting off that everything’s impossible. On the same note, remember that a hero is remembered for centuries; a critic is just the coward that never tried anything.

If you want to be a success, you need to remember your one key to wealth: your mind. Believe in what you are doing and strive for it like there was no tomorrow!

Action Steps:

  • Continually talk to yourself (in your head – you don’t want anyone to think you’re crazy!) and remind yourself that your dreams are possible

3) Visualize Your Success

Remember the opening quote by Ghandi? What you first plant in your mind will lead to your destiny.

If you mope around and think about why your life is so terrible all day, then your life will be terrible! This isn’t rocket science, it’s just common sense!

Now what if you visualized your success every day? What if, every time you got up in the morning, you would visualize yourself giving a speech in front of thousands of people because of your great accomplishment? You see yourself walking your vast property, and maybe even see yourself with a beautiful spouse and kids that adore you.

Keep visualizing this and your subconscious mind (your one key to wealth, remember?) will lead you down the path of your dreams coming true.

What I described here is the law of attraction. Visualize your success and believe it’s possible, and it’s much more likely to become a reality.

Action Steps:

  • Before you do anything in the morning, keep your eyes closed and visualize the life you’ve always dreamed of. See yourself having a blast and living it upf! Soon this will become a reality.

4) Get Rid of All Negativity

Here’s your typical day:

  • You wake up and watch the “news” (which is basically your daily update of shootings and stabbings)
  • You listen to the news on the radio on the way into work (probably some negative political crap)
  • You arrive at work and inevitably run into “Negative Nancy” that complains about her joint pain, her terrible husband, and probably the weather.
  • Your boss reminds you that you’re not meeting expectations…again
  • You get home, wind down with the family, and watch a sarcastic sitcom – which is typically filled with negative statements raunchy comedy.

We face negatively during nearly every second of every day. It’s a difficult battle to overcome, even when you’re finally aware that it’s there!

The one key to wealth is your mind, and if you let all that negativity in, what do you think that does to your chances of success? It kills it. You may as well have your worst enemy yelling in your ear everywhere you go, “You’re a loser, you can’t possibly succeed! Why try something new? Your life is pretty good! Stop being stupid, put your head down, and get back to your lousy job.”

Action Items:

  • Clear out the negativity in your life – stop watching the negative news, spin positive statements on your negative co-workers, and ditch those bums that you call friends.
  • Search out a professionals or entrepreneurs group in your area. The positivity will astound you.

one key to wealth5) Appreciate What You Have

I’ve heard of people that stretch themselves financially because they believe it pushes them to be better at work, and ultimately earn more.

In other words, they max out their lifestyle on credit to scare themselves into working harder to earn more.

How stupid are these people?

Basically they’re saying is that being stressed all the time is the secret to success. What they heck is their definition of success anyway? …Apparently owning a house that’s 10 times the average equates to success.

This. Is. Stupid.

The one key to wealth has to do with your positive mental energy, not your negative motivation!

Instead of maxing out your credit cards and stressing out all the time, start being grateful for what you have. 

Do you know what this new mentality will do for you? It will set you up to keep the wealth that you already have, and then build it safely from there! If you’re constantly wanting and driving for the next thing, you’ll never reach an end goal. You’ll always be left wanting more.

If that didn’t drive home my point well enough, watch the video below:

6) Be Happy For Rich People

Rich people are greedy, conniving thieves. All they care about is money and they’ll trample old ladies and children to get their hands on it….

At least, that’s what the media wants you to think.

In reality, the wealthy are kind, hard-working people that put their blood, sweat and tears into a business that probably wasn’t an instant success. They may have even failed with a few businesses before they discovered a model that worked.

Then, once these hard-working people finally attain wealth, many of them give thousands of dollars back to the community.

If you want to be a success, remember the one key to wealth of your mind. If you have negative thoughts about millionaires, what do you think the chances are that you’ll become one? Very slim.

On the other hand, if you think highly of the rich and congratulate them for their success, you’ll be more likely to become them in the future.

Action Items:

  • When your friends bash the rich, remind them that the rich worked hard and earned what they have
  • Get to know at least two multi-millionaires and ask them about their success in life. This could be through work, through a friend, or an owner of a local business.

7) Commit to Your Success

Success doesn’t come over night, and it doesn’t come by jabbing at something every now and then. If you want to be a success, you’ve got to work at it 12+ hours a day for years. Ever hear of an overnight success? There’s no such thing. Successful people know the one key to wealth and they keep their mind on one thing: their life’s goal.

Action Steps:

  • Do at least one thing for your success every day. Read a book, take an action, talk to someone that’s been where you’ve been and ask for their help. Do whatever you can to propel yourself forward. Commit, commit, commit!!

Conclusion

If you truly want to be wealthy, don’t listen to your friends, don’t go out and play the lottery, and don’t invest in a get rich quick scheme. This is not how the truly wealthy become successful. Instead, step back, train your mind, and take action with your wealthy thoughts. Try this in reverse and you might become rich, but you’ll likely lose it all in a flash. Train your mind and let it lead you to success.

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Battle of the Mind Money

Derek

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

6 Comments

  1. I agree that a lot of what holds people back is their own mentality. Of course, adopting a “wealthy mentality” won’t ensure you make it, but I think few people get there who are negative toward it.
    Eric Bowlin recently posted..Real Estate Investing Update Aug 2016

    • You’re right, a wealth mentality won’t ensure that you make it, but if you don’t have one you will almost certainly NEVER become wealthy!

  2. Not everyone wants to be rich….or at least they think they don’t want to be. My mother always said “I never aspired to be rich” to which I always replied “Well I do”. I think for her, your #1 point was key. She grew up during the depression and I think she always felt that it was more noble to be poor, or at least gave you a leg up in going to heaven. Ironically, she and my step-father had enough rental property that the value of them made them millionairs.

    Point #6 is a commonly held belief that is unfortunately promoted by the current president. I cringe when I hear him or anyone else speaking about the rich paying their fair share. As a former employee of the (hated) IRS I have seen tax returns of many wealth individuals and it is mind-boggling how much taxes they pay. And when I hear people like Warren Buffett speak of increasing taxes on the rich I find it very hypocritical of him as he puts so much of his income/wealth in his personal foundation and then deducts it on his tax return. If he was serious about paying more taxes, he could skip the deduction, or at least voluntarily write a check to the Bureau of Public Debt. No, I don’t know for sure that he does or doesn’t do these things, but from the manner of his speaking about them, I feel fairly certain that he doesn’t.

    It is no sin to be rich and the potential for becoming so is why so many people have come to this country. I think the idea should be promoted instead of denigrated.

    • Some people don’t seem to understand how percentages work. The middle class employee might pay 25% of $50,000 toward taxes, but the wealthy pays 15% on $2 million. Which is more?? Clearly, the millionaire pays far more in taxes, but it’s just at a lower percent because they focused on earning their income through capital gains, and not through employment. $12,500 vs. $300,000… Hmmm, I think the rich are still paying their fair share…

  3. Removing negativity is so helpful. I surround myself with people creating wonderful business and things. We all encourage one another and we all continue to succeed. It is a self-fulfilling cycle.
    ZJ Thorne recently posted..Net Worth Week 19 – Heatwave Edition

    • That’s awesome ZJ! Sometimes it’s tough to shed some of those negative old friends for positive new ones. Sounds like you’ve done it already!


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