Even though the recipe for building wealth has been the same for thousands of years, most people still won’t pay attention.
But if you have the patience to study the age-old fundamentals of building massive wealth, you will likely succeed in building massive wealth.
It’s not easy, to be sure. Many people will never become “rich,” even if they try their entire life.
But if you follow the fundamentals — the same foundational financial values that have been used by nearly every supremely-wealthy individual in history — you are likely to build great wealth.
Mastering your money can come down to establishing a few smart habits.
After all, “habits are the cause of wealth, poverty, happiness, sadness, stress, good relationships, bad relationships, good health, or bad health,” writes Thomas C. Corley in “Change Your Habits, Change Your Life,” a culmination of his research on hundreds of self-made millionaires.
Here are some proven ways to grow your wealth in multifold.
1. Anybody Can Become Incredibly Wealthy Because Wealth is a Mindset.
Like many now-wealthy individuals, Robert Kiyosaki from the Rich Dad Poor Dad books once found himself completely broke. In addition, his failed nylon wallet business had left him over $1 million dollars in debt.
Yet he still proclaimed he was a rich man. “I am a rich man!” he declared to his wife with baffling confidence.
He knew he could throw up his hands and give up on ever building wealth again. But he didn’t.
“I am a rich man — and rich men don’t do that!”
Despite the big “zero” in his bank account, his mindset of wealth remained stronger than ever. He has since gone on to amass hundreds of millions of dollars through his Rich Dad Poor Dad curriculum.
Building massive wealth rarely happens unless you have a firm belief that you can do it.
Of course, simply believing you will be rich won’t make it so. But it’s nearly impossible to build massive wealth without believing you can.
When building wealth, you are likely to receive what you believe you will.
“No one is ready for a thing, until he believes he can acquire it. The state of mind must be BELIEF, not mere hope or wish.” -Napoleon Hill
Great news — an inner belief that you will build massive wealth is something anyone can cultivate.
Developing this identity (“I am rich”) might be extremely difficult for individuals who grew up with “scarcity” mindsets in literal poverty.
But developing an “abundance” mindset that firmly believes you will succeed no matter what is a prerequisite for building massive wealth in nearly every case.
Building massive wealth starts with your mindset. If you believe you can get rich, you’re far more likely to succeed than someone who doesn’t really believe it.
2.Automate your finances.
If your financial plan isn’t on auto-pilot, change that immediately, encourages self-made millionaire David Bach. Automating your finances — sending your money automatically to investment accounts, savings accounts, and creditors — allows you to build wealth effortlessly.
Prorate your bills and savings goals per paycheck. Everything is easier to achieve if done bit by bit, on a regular basis.
Isolate your spending money from your bill and savings money. This allows you to know how much you can spend until payday without resorting to mental math.
Automate everything you can. Take the time to set up automated transfers, payments, and deposits. Then the money goes where it needs to before you can spend it.
Automating your money works because you are paying yourself first: if you automatically deposit a certain percentage of your paycheck to your savings, and other investments, you won’t be tempted to spend it later on. As Warren Buffet puts it, “Don’t save what is left after spending; spend what is left after saving.”
3. Make Your Money Work For You.
“Savings without a mission is garbage. Your money needs to work for you, not lie around you.” -Dave Ramsey
Most people will only ever work for money. They don’t know how to make money work for them.
Every single penny is like a little seed that can grow and sprout more income. This is the essence of having “money work for you.”
Most people will never know the glee of waking up in the morning to discover they have made hundreds or thousands of dollars from passive income while they were sleeping.
In this sense, the man who earns $2,000/month entirely from passive income is more enviable than the man who makes $10,000/month in job income.
The first man still has all his time left to build more passive income. The second man, while earning more job income, must spend most of his days working for it. He is limited by the physical boundaries of his energy and by time itself.
Most people don’t know how to make money work for them. But if you want to build massive wealth and make money even when you are sleeping, this is an ideal program for you.