The Secret to Building Wealth

The secret to building wealth is contained in one simple statement ... "Build wealth slowly and consistently over time".

Sufficient time and discipline coupled with passion and intention are necessary components for building long term wealth. Not only should you make the decision to build wealth but you should aspire to leave a legacy that is embodied in tangible, principle-centered ideas worth passing on as your contribution to future generations.

The model and blueprint which outlines your personal secret to building wealth and success will be worth far more than any amount of money you create over time.

The secrets to success and failure are discovered quite easily since they both leave clues. Tracks left behind by both successful and unsuccessful people serve us. Observe people and their circumstances to get a clue as to whether they are successful, financially independent, happy, fulfilled and whether they are living out their purpose with passion and intention.

In other words, discover the secret to building wealth by finding someone who is building wealth the ideal way you would like to build wealth and simply do what they do. Observe the differences in their lifestyle from yours. What decisions have they made and are making that you have not committed to? How do they spend their time? What is their primary focus?

Apply the 80/20 rule to your limitations. Consider this, 80% of your limitations are the result of your thought process and the root of what is keeping you from realizing your full potential. Only 20% of those things keeping you from developing the key disciplines you need to build wealth exist externally (circumstances outside of yourself).

The root cause of your hindrance and lack of forward progress resides in your lack of skills, ability, confidence and creative thought. We now live in the 'Information Age' and the true source of currency is our 'Knowledge' base. Good health and nutrition offer a positive solution to the hectic lifestyles that often contribute to unhealthy diets and inadequate exercise. A sound mind and body creates a situation where there is no limit to your wealth building potential.

Health and wealth are interrelated and go hand in hand. In other words you can't enjoy one without the other. The amount of knowledge that you can gather and apply is limited only by your ability to imagine and process ideas.

The more you learn, the more earning potential you create for yourself. Deepened awareness and knowledge in your area of passion stimulates the confidence and courage you need to sustain forward progress. These qualities build an energy field of an unstoppable force that you create.

Your ability to create wealth lies in direct proportion to your ability to think, apply knowledge and get a certain result. Today, our worth is determined by mental strength rather than physical strength. We no longer live in an age where one unit of effort produces one unit of result. Today the expectation is for one unit of effort to produce a multiplied result. The word we use to best describe this idea is 'leverage'.

The secret to building wealth is quite similar to the process of building in construction, where the most important phase of building involves setting a solid and secure foundation. I believe the strength of the foundation determines the height of the building. Digging deep into the earth to reach suitable and firm surfaces is necessary during the building process in both instances. Unsuitable and unstable surfaces are unfavorable conditions for building.

Our intention is to go as deep into the earth as possible to reach a naturally stable and firm foundation and from that point we build. Similarly, go deep within to your core and free your creative essence and get to work.

The secret to building wealth from a firm foundation exists with understanding the process of developing across the following areas of personal growth: Survival, Stability & Significance

Survival: This is the stage of your financial situation where your income meets your monthly obligations with little left over, if any. Some refer to this stage as having too much month at the end of the money. People in this stage typically carry high consumer credit card debt.

Stability: This is the stage of your financial situation where your income exceeds your monthly obligations with money left over for savings. This is a place of comfort and security. People in this stage most likely contribute to an employee sponsored mutual fund and have at least six months of expenses saved in the bank.

Significance: This is the stage of your financial situation where your living expenses are no more than 70% of your income. This is a place of contribution. People in this stage most likely own rental property, stocks, bonds, businesses or some combination of assets that produce monthly income. People who reach the significance stage in life, understand and operate from a mindset of abundance. They view life's resources as being more than enough to sufficiently provide for everyone.

Put the secret to building wealth to work for you by making the decision to create a financial picture that depicts a comfortable lifestyle of living on no more than 70% of your income.

Create your plan by allocating 10% for savings | investments, 10% for charitable giving and set aside 10% for desires, wants and pleasures. In other words, the secret to building wealth involves developing the habit and discipline to invest at least 10% of your income for long term growth.

Remember this: 'you can either trade time for money', 'other people's time for money' or 'have your money make more money'

By far the best scenario here is to accumulate wealth by putting your money to work for you. The secret to building wealth is simply allocating 10% of your income and consistently putting it into an income producing asset over time. Think and grow long term wealth.

The Spirit of Entrepreneurs & The Secret To Building Wealth