December 27, 2021

Let me ask you, what are the odds that you'll become a millionaire?

One in a million?

One in a thousand?

Well, the answer is 1 in 50.

That's right, 1 in 50 people living in the world right now are millionaires. This makes it entirely doable and something that's very achievable for you. Boom.

The key to getting there is to master the mindset for wealth and to build a wealth consciousness within yourself.

Here is a trick I learned to help you on your journey to abundance: https://bit.ly/3FFH6Hy

49 out of 50 people aren't successful at doing this - and there's a pretty good reason why. See, from an evolutionary point of view the very idea of "wealth" is extremely new to us.

As a species, we've had millions of years of evolutionary programming that makes the concept of wealth a difficult one for us to grasp. Until very recently, all humans on the planet made their living as hunter-gatherers.

For most of human history, we spent our time scrounging and foraging. We lived on the edge of starvation and the only thing there was a lot of was famine. As a result, our natural instinct was (and is) instant gratification - that is, hunting for something of value (such as food) and then consuming it immediately.

This instinct remains deep in our programming today, making it very counterintuitive for us to build wealth naturally.

We still love that instant hit, which causes big problems when trying to build valuable assets over time (the basis of becoming wealthy).

In fact, even the idea of planning for the long term or providing for the future isn't something we're genetically predisposed to. So we have to work at it. I've learned this by reading a ton of materials and taking various courses, such as Eben Pagan's 'Self Made Wealth' - which I found particularly useful and need to give a big shout out to. Now, down to business.

Building wealth as a project in your life

To start, you need to undertake a new personal long-term project - a project to build wealth in your life.

You have to commit to working on the accumulation of wealth as an ongoing area of focus.

Commit to becoming personally intrigued and fascinated with wealth. Become enamored with it and study wealth every day in order to figure out how it works and how you can attract it into your reality.

Doing this will teach you the fundamental mindset for wealth - as well as many of the guiding principles, some of which are as follows.

Get rich slow

You don't hear many people talking about "getting rich slowly" right?

Well here's the thing. Get rich quick schemes just don't work.

You need to plan and get rich slowly. Anything that happens sooner is a bonus. But your underlying strategy for wealth will be to get rich over time.

Ask yourself this question: How do I keep myself on track for 10, 20, 30 years?

I know it's difficult to think like this (remember the hunter gatherer mentality?) so you'll need to work on it to get it handled. But it'll be worth it, for sure.

The more you can resist that primal urge for instant gratification, the more you'll achieve and the more wealth you'll build.

And just because you take this long term approach, doesn't mean you can't keep yourself open for any wealth generating opportunities that present themselves at any time.

Give yourself permission to receive anything that comes into your reality that can help you on your journey. Here's a great affirmation to practice to help with this:

"I give myself permission to fully receive any gifts or contributions that are offered to me. I deserve all of the gifts and all the things that are contributed to my life and I receive them fully".

Assets vs Liabilities

Poor people have lots of liabilities and very few assets.

Middle class people think they have lots of assets, but really have lots of liabilities.

What's an asset? Assets are anything you own that earn you more money than they cost you. Examples of assets might be collectible items, real estate, stocks or bonds.

What's a liability? Liabilities are any debts or payments that you owe to someone else. Examples of liabilities include mortgages, loans and credit card debt. Liabilities generally cost you money every month and reduce your ability to build assets because they eat up all your cash.

"Rich people have small TVs and big libraries, and poor people have small libraries and big TVs" - Zig Ziglar

Simple.

Money kinda sucks

To keep things really interesting, here's a good one for you. Money is not the best asset.

Money depreciates in value. In fact, money is not a great asset at all. It kinda sucks.

Money is probably the biggest temptation to buy more liabilities. So your goal should be to turn any money you can save into a more valuable asset as quickly as possible.

Get the money, use it as a tool, turn it into assets - that's how you should roll.

Decide to learn about the different types of assets. Fully understand them and become an expert in one or more.

You are an asset

In fact, you're your biggest asset.

You can literally do anything you put your mind to. But just like any other asset, you need to invest in yourself to get the best return.

Wealthy people invest in knowledge. They constantly educate themselves and improve their skills.

What books are you reading? What courses can you take? What programmes can you participate in?

Buying vs investing

What most people don't realize is that generally, whenever you spend money you are actually buying more liabilities.

The things that people tend to buy usually have no long term value and actually lose most of their value immediately.

You can see this on eBay, on used car sites and so on, where even items being sold 'as new' only go for a fraction of their original cost.

Wealthy people on the other hand, invest their money. This means they trade their cash for something that has lots of intrinsic value and that actually increases over time. This makes it an asset.

So how do you make the jump into this smart category of people? Well here are some tips.

Buy what you need vs what you want

If you want to build real wealth then you must first make the mental switch from focusing on things you want and instead concentrating on the things you need.

You have complete control over this, so use your personal power to develop the following mantra: I invest only in what I need.

"Wealth consists not in having great possessions, but in having few wants" - Epictetus

Remember, the more "stuff" you own the more management hassles you have.

Many of the things people buy come with high maintenance costs and suck a lot of time, energy and money from their 'owners'.

Looking at some of the most basic things people buy will show this - a house or a car. Both require lots of additional money, time and upkeep.

Pause before purchasing

A very quick way to start developing the mindset of wealth is to simply wait before you buy something.

If you feel that sudden "need" or urge to spend, just experience it but don't give in.

Acknowledge that it's just your genetic programming driving you towards instant gratification, and then move on.

Impulse buys are the most damaging things to long term wealth, so develop a personal system to spot these urges and move past them.

Only buy things that you've planned for in advance:

On minor purchases wait at least 7 - 10 days
On major purchases wait 30 days
For really major purchases wait at least 3 - 6 months
Most of the things you want to buy you simply don't need.

The more wealth you want to create in the future, the more you must realize that you can survive on much less.

In fact, you can shine and thrive on much less.

Kill your debt

Avoid debt like the plague.

Imagine that debt is an actual disease (think Ebola or leprosy) and do everything you can to avoid it.

In particular, avoid loans and credit card debt.

KILL as many recurring monthly costs as you can - they will cripple your progress to becoming wealthy, so always keep your monthly overheads to an absolute minimum.

This is something you can start right now.

Contribute & Create Value For Others

We live in a world of unlimited resources and total abundance. All we have to do in order to set ourselves on the path to wealth is to learn how to create value for other people.

This needs another big shift in thinking - you must focus on the creation of value and not the extraction of value. Concentrate on giving instead of taking.

Forget about asking "how do I make money quickly". People who ask this are usually focused on themselves. They're only thinking about taking and getting. Don't be one of these douches.

"Not he who has much is rich, but he who gives much" - Erich Fromm

As a general rule in life, you typically get what you think about most of the time.

Money is the exception to this rule. When you focus on money you don't get it. If you want money to materialize in your life, you must focus on creating value for others.

That's why wealthy people ask "how do I create value?" They concentrate on the needs of others, not on getting rich.

To do this, you need to understand people. You must get inside their heads and hearts and create value for them from that place.

Create value while you are thinking like the other person. Don't just think about what you like and then try to convince others that they like it too. Make sure you understand what people actually want or need.

If you do this and give value to others, then you'll get value back from them. And the wealthy person then turns this value into assets and wealth.

The formula is simple:

Create value -> Accumulate Assets -> Build Wealth

This applies across the board, whether you own your own business or are working for one. The logic is solid.

Start to think of yourself as an ever evolving creator of value.

Align your personal goals for wealth with creating a better existence for other people. Align your wealth goals with making the world a better place. The wealthier you are the more you'll be able to contribute to others.

This is the mindset you need. And the universe will reward you.

Final thought

I'd like to finish with this thought. You live in the most abundant time in the history of the world.

More opportunities surround you now than ever before. All you need to do is take action and create massive value. When you do this, value (and money) will start to flow back to you. You must convert this to assets and wealth, not liabilities. But always remain focused on contributing as much back to others as possible.

Here is a trick I learned to help you on your journey to abundance: https://bit.ly/3FFH6Hy