What does it take to be rich? Most people want to be rich, filthy rich. Having it all, not having to count the pennies anymore, having a lavish lifestyle. But Very few will succeed by achieving what it is, some will succeed and be in the middle, and others will lamentably fail. It will not be by lack of trying, no.
Some will work a lot of things, anything under the sun known to make money, and take different steps, but still will not observe any change in their circumstances. So what does it take to be rich? Do you have what it really takes to be rich? Here are 4 tips to help you if you are serious about being rich.
1 – HAVE A BURNING DESIRE AND BE DEDICATED
The first thing you need to have to be rich is simply to develop a burning desire. Be highly motivated and not be put out by failure.
You need to really want it and be ready to go for it. It is one thing to want to be rich and another thing to have a burning desire to be rich. Not only should you have the desire but also be dedicated, be ready to be fully committed and focused.
2 – HAVE A GOAL AND A FINANCIAL PLAN
A startup with a burning desire is essential; the next necessary step is to have a plan. As the saying ‘’ a goal which is not written down is merely a wish’’. So make it real, know where to start and where the end goal is.
You can write down a simple plan where you detailed the steps you will take to reach your goals, or you can reach out to a professional to establish the financial plan for you. One thing is sure; you need the plan to start.
3 – CREATE ASSETS, BE MONEY SMART
Once you have your plan, the next step is to start and stick to the plan. Put your ideas into action. Most ideas will luckily be to create assets; there are many ways to build assets. Common types of assets include current, non-current, physical, intangible, operating, and non-operating.
An asset is a resource owned or controlled by an individual, corporation, or government. You do not necessarily need money to create an asset. Examples of assets you can create with no money are blogging sites, making videos on YouTube, writing eBooks, etc.
4 – INVEST, INVEST
After creating your assets, when things will pick up, and you start making a decent amount of money, fair as you do not need a high amount of money, to begin with, you can start investing your money.
Do not be intimidated by investment. There are different types and different levels. There are a lot of resources and tips out there you can use to educate yourself about finance and get started. Examples of investment include stocks, bonds, mutual funds, commodities, etc.
There is no magical formula to get rich. All it really takes is a relentless desire, a full commitment, a plan and a willingness to take a bit of risk.