Success is a series of accomplished events measured by wealth, influence, and positive impact on society.
Here, “success” can mean numerous things but the main definition is that something has been accomplished or achieved. People define success in different ways and it means different things to different people.
Success to a father and husband may mean supporting his family with everyday needs. Success to a musician may mean getting his first sound track completed.
The diverse measurement of success varies depending on the person who chooses in their own way how to define what success is. In this book, success is defined as stated earlier, which is the completion of an event that leads to wealth, influence, and positive impact on society.
Overall, the abundance of wealth, influence, and positive social change advances the culture of our world and lays a foundation for others to build on or get ideas from. The amazing part about success is that anyone can achieve it but must unlock their inner talents and gifts to do so.
A multimillionaire said, plus statistics show, that there are five people who make up millionaires. First, the majority is business owners, second is CEOs and executives, third is professionals like engineers, doctors, lawyers, etc., fourth are sales people, and lastly is the smallest percentage like people who gain inheritances and lottery winners.
The good news is that skills to become wealthy are learnable. The number one recommended way to achieve wealth is to become a business owner and learn at all cost how to sell and make investments. Case studies show many wealthy people do not showcase their wealth but rather live simply and sometimes in secret. The first step to becoming wealthy is to learn how to gain wealth.
The most revolutionary way to build wealth is to take skills you already have or to gain skills and use them and charge people for services or from a product you have made. To gain wealth, you must get out of the corporate mind-set of just always working for someone else.
However, for those not interested in entrepreneurial aspirations there are still options to acquire wealth. Some people are not wealthy because they do not know how to become wealthy and have wrong perceptions of how to build wealth. The number one way to become wealthy is financial education and in another form is basically knowledge and action. Martize’s Wealth-Building
Create a $1200-$2000 reserve account
2. Create a super reserve account (8 to 12 months of expenses)
3. Pay off all or the majority of debts, starting with the smallest and progressing to the largest
4. Once your debt is reduced by 45 to 70%, began investing in retirement accounts (10 15% of salary at minimum) while simultaneously paying down the remaining debts
5. Begin a higher education fund for your children (if any) while still investing pay off the mortgage, commercial or personal estate, or any such property
6. Aggressively invest, focusing on assets that generate cash –flow income so that if you ever stop working cash flow continues to occur You may find similar recommendation offered by the well-known financial advisor Dave Ramsey, and I give him full credit for the technique. However, I have modified his method for a simpler approach to build wealth.
Wealth Building Technique 2:
This technique assumes you live with a partner.
With two incomes, live off one income and pay debt down with the other then begin investing Wealth and Prosperity Secrets:
• Get more hours out of the day than the average person by waking up super early
• Take calculated risks in terms of investing and entrepreneurship • Work while you are working (while on your daily job also work on other ventures)
• Read two to five books or more per month about success, finance, and wealth building
• Have urgency and become quick to act on opportunities worth pursuing
• Sacrifice your life, family, and friends (time spent with them may become less and less because of your vision that you are so determined to make a reality)
• This is difficult to do but find a millionaire advisor
• Join or start a group who are intending to accomplish similar goals
• Do not stop working on something when you are exhausted rather stop when it is completed
• Stay or become healthy as well as watch what you eat and exercise daily Daily Routine of the common wealthy and more prosperous people:
• Rise early in the morning, 5am or 6am, or two hours before regular wake up schedule to read the information in your field or about subjects related to where you are intending to go in
• Make a list of everything you have to do that day
• Prioritize the list in order of importance
• Start on the most important thing in the list with concentration, focus, and discipline then go to the next one after completion
• Listen to audio programs in car
• After experiences ask the questions what did I do right? What would I differently next time? Then write down how to improve
• (Optional but is recommended) 20 point approach is a method used to maximize a person’s way to think through to finding a solution to a problem or to answer a question.
Let us say the question is how do I double my income in less than 3 years? Write out 20 ways to accomplish this or solutions then act on them The book, The Millionaire Fastlane, author MJ DeMarco shows five ways to earn large amounts of money quicker than average.
Those five are the following: rental systems, software systems, content systems, distribution systems, and human resource systems. Briefly, I’ll explain them so that you can choose the best option for yourself. Rentals are money-generating activities that empower you to earn money from others renting your assets. The common example is real estate.
If you rent out a home, apartment, or commercial real estate, your clients will pay you rent each month regardless of how you spend your time. Software systems accumulate money with code and often done over the Internet. This could be anything from financial software to an iPhone application.
Content systems are the term used for selling information. Selling information could mean you run a newspaper or a magazine. It could also mean that you’re an author or a blogger. Distribution systems are ways of delivering products and services to large populations.
Some people desire to create the product or information while others desire to get it out to the world. A human resource system simply is having employees running the company for you. As a person ventures into the journey of becoming wealthy, it is important to mimic the practices of wealthy people.
There are ways that the wealthy allocate their money that helps them build more wealth and sustain it. Tom Ferry, an expert money management professional explains the money patterns of three different groups which are the 80%, 15%, and 5% of the American population.
The majority of people, around 80% of Americans, make money and it goes to their personal accounts, which in this manner has the highest tax rate on it. This is a quick sketch of the 80%: