Answer:

You become wealthy by moving in the direction of riches, and away from the direction of poverty. This means you need to develop rich habits and repeat them day after day until you are wealthy.

That little nugget of advice is not very sexy, and most people are feeling a little let-down after reading this. You were hoping for a revelation, right?

 The truth is often so boring and mundane that it is almost not worth trying to sell. Nobody wants to hear the truth about wealth. They want to hear about shortcuts or schemes or inside stock tips. Nobody wants to hear that to become wealthy, you do a bunch of boring things over and over again, day after day, gradually succeeding over a long period of time.

 This is how it happens most of the time. People work for 20 years at something, usually a business, and then eventually they start to see the fruits of their labour. 

People invest in stocks and leave their investments to weather the storms for 20-30 years and they end up with a significant portfolio. It is very rare for someone to make a fortune with an insightful stock purchase that balloons beyond imagination. 

Quit chasing the get-rich-quick dream. The odds are not much better than playing the lottery. You will usually end up broke, in debt or in jail. I  previously wrote about how to get rich slowly, and I stand by my assertion that you can get anything you want, but not everything you want. 

There are tried and true methods to build wealth and gain financial independence out there, and you are welcome to try them. But you must accept that they take time. 

Here are the basics:

1. Spend less than you earn

2. Invest the difference

3. Start Young

4. Create multiple streams of income.

Spend less than you earn.

You will never get rich if you spend more than you bring home. If you are living paycheck to paycheck, even if you are breaking even, you will never be rich. I don’t care if you make a million dollars a year, if you spend a million dollars a year, you are poor. It is simple as that. I wrote an article that makes this point HERE and I feel it is a good argument. I also include this concept in my books and courses. It is the rock upon which all good financial plans are built. 

Invest the difference.

This is where the real power is. If you can live on less than you earn and you have money left over, put it to work. Make your money earn money. This creates what is called “passive income” and is truly amazing. Imagine earning money while you sleep. It is very cool. The world is full of awesome ways to invest your money, and I have written books and developed courses that will show you exactly how to make your money work for you. 

Start Young

Time is your most valuable asset. Because I am trying to get you to believe that it takes time to become rich, you can see that if you start investing young, you will have more time to enjoy your wealth once it accumulates to the level you desire. You must allocate the appropriate timeframe to your plan, and then execute it. There are ways to accelerate the plan, but if you start early you are giving yourself some leeway to make a few mistakes along the way.

Create Multiple Streams Of Income.

If you have a job and are earning money through traditional forms of employment, you are basically trading your time for money. You only have so much time in a day to earn, so there is a hard limit on that. You can increase the value of your time, but that will eventually top out too. The only way to make more money than you have time to is to leverage time. This means -  find a way to acquire investments that earn money without you. If you have money coming in from a rental property or a good dividend stock, then you are earning passive income. You can still work your day-job and your money keeps working at the same time. This is the path to wealth. There are ways to accelerate this concept too.

Do Something

Sitting around wishing and hoping and dreaming about getting rich is not going to help you. You can visualise riches all you want and try to get the “law of attraction” to bring you wealth without you lifting a finger, but I would rather take ownership of my own destiny. As you actually start to invest and learn how to grow your money, your mindset will change too, and your affirmations will have exponentially more power, as you are seeing tangible proof of your money growing. The spiritual gurus say “believe it and you will see it” but “Seeing is believing” is also true. It works both ways.

“God don’t drive no parked cars” - Dr. Phil

This means when you move in the direction of your dreams, divine providence moves too. I am suggesting you are more likely to get a boost from your guardian angels if you are already moving towards what you desire. 

It is doable

You can become wealthy. If you have a decent job and are living in a relatively safe country that embraces capitalism, you can do it. I can show you how. But you have to get real about the journey and accept that it is probably going to take time. Likely 20 years or more. This is the hard facts. However - it is still doable. You can do it, just by following the recipe. You don’t have to use my methods, there are a ton of great books and ideas out there. Here are five great books that I recommend. You can make the decision right now to stop dreaming about riches and start moving toward riches. It will require self-discipline. It will require patience, and it will require mental toughness. The price you must pay for wealth is a change of thinking, a change of behaviour, and a dash of courage. If you are willing to pay the price, get busy paying it. 

I wish you the best of luck in your journey.