You’ve been working day and night trying to get your business off the ground or
you’ve been putting in more overtime hours at work than you can even count. At some point,
you should strike riches right? Well, in this video I will share with you 5 signs
you're guaranteed to be rich with the last sign being one that all millionaires have in common!
Sign #1: You’re pissed that you’re broke
Individuals who want to earn more or get ahead in life need to be prepared to step
outside their comfort zone. Successful people all over the world learn early on that becoming
a millionaire is never easy; also the desire for comfort can be a temptation that will ruin
any hope they have of striking it rich. For those who achieve true financial success,
they learn to be comfortable working in constant uncertainty.
So, what does it truly mean to step outside your comfort zone? Stepping out of your comfort zone
can mean taking a job that’s above your qualifications, learning a new skill,
or connecting with new people whose advice you could benefit from. As Drake says, “started
from the bottom now we’re here” and in many circumstances you’re going to have to rise from
financial mediocrity and through the ranks to get where you’re trying to go. In fact, starting at
the bottom generally involves enduring and pulling through hard times and a lot of discomforts.
The soon-to-be-successful people take comfort in the fact that the easy road soon becomes hard,
while the hard road, with time, becomes easy. Basically, you have to loathe your current
position in your life. It is generally believed that a successful person must
maintain a burning desire for the wealth that essentially consumes him. It is this fire
that makes you sleepless at night, keeping you hungry for tremendous success as you progress.
It's only people who are not okay with being financially destitute that take action to improve
their financial position. So in this video, I want to say congratulations in advance. If you're
lucky enough to feel this desire and know how to keep it burning, your success is inevitable.
And if you think you’ll be rich one day, give this video a like,
if you don’t think so, give it a dislike.
Sign #2: You have separated your time & money
We were all lied to. As we grew up, we were sold the misconception that we should follow the
traditional career path of a 50-hour workweek in order to get a stable salary. In short,
your life should consist of going to the office early, working 8 or more hours a day,
staying up late to deal with all your other responsibilities and if you’re lucky you’ll
have a few hours to yourself on the weekend to relax. Then, if everything worked out,
by 65, you’d have enough money to enter into a modest retirement lifestyle.
So who's the fellow that actually invented this nonesense? How did
man manage to contrive a rule saying, we must exchange our time for money?
In fact, this is arguably one of the biggest scams in society. Time is our most important
commodity, and not even all the money in the world can replace this fact.
Now, if you currently earn an income through exchanging your
time then you’ll know how limiting this is to your overall income potential. In fact,
I would go as far as to say that it’s next to impossible to succeed by trading time for money.
When you exchange money, your income is always capped. The first reason is the
fact that there are only 24 hours in a day and most of us need to sleep eight hours,
commute for two hours, cook, eat, bathe and spend time with friends and family. When all
these activities are accounted for, this gives us 10 to 12 hours to trade for income. That's
it. But the fact is that no matter how much time is spent working for an organization,
whether $20, $30, or $50 per hour, you’re always limited time.
Also, you have to wait years before you get the much-needed and prayed
for promotion. And there’s a good chance you won’t necessarily get that promotion at all.
Now to top it all, employment tax is the most taxed income, and the more income we earn,
the more taxes we face. This means that when someone goes from earning $60,000 to $100,000 at
their job, they really don't make $40,000 more, the after-tax increase is significantly less.
Not to mention, when we are constantly trading in our time for money,
our time for our passions are severely limited. Things like a hobby we love,
giving back to the community, or building something that can have a tangible impact
on the world are put on the backburner as we try and stay financially afloat.
But, given you’re watching this video, you’re now aware of the time for money trap,
so make sure you congratule yourself by hitting that like
button below because once you ditch the this inefficient money making model you’re
one step closer to becoming that rich individual you’ve always wanted to be!
Once you drop the mindset that says that in order to make money,
we have to exchange our time for it, our minds open up to opportunities.
There is no rule that states that in order to earn X dollars, we have to work X hours.
When you’re among people who understand that time can’t be exchanged for money, you’re thinking of
trading value for money, not time. Such a person thinks about what value he can create for other
people and how he can generate that value. What resources, skills, knowledge, connections,
or ideas do you have that people value? Identify your strengths and abilities, and then go all-in.
Sign #3: You understand the difference between saving and investing for wealth creation
Like a lot of things in our educational system, there is a misconception most
people have concerning saving and investing; they think it’s the same thing. Although many
often use the terms interchangeably, they are as different as chalk and cheese. Having this
knowledge is a sign that you're about to be rich. You might ask, how come,
why is that knowledge so necessary? Well, stick around; I'll explain in a minute.
The difference between your expenses and your monthly income is your savings. This
is the first stage, not the finish line when it comes to wealth creation. When you gather
part of the money you save and invest in different asset classes, such as stocks,
bonds, real estate, or gold, you create wealth.
Certain financial advisors just tell you to put money aside on a regular basis. Spend
less than you earn and deposit the rest in the bank. This is a saving.
However, when you understand that saving alone cannot make
you rich and it is different from investing, you can take the next step.
Assuming you reserve a fixed amount each month for mutual funds. Now, this is investing.
The thing is, some people already know that investing money can generate profits
that increase your net worth and help you build wealth over time. However,
they think storing cash in the bank is the tried and true path to doing so.
Once you can differentiate between saving and investing, you understand that money
kept in a checking account does not produce enough returns to beat inflation. Instead,
the money invested in assets such as stocks, mutual funds, and real estate, while being
exposed to more risk, are your best bet to achieving the level of wealth creation you desire.
The goal of all investments is to beat inflation because, with inflation,
the value of money deteriorates over time. If the current cost
of buying bread is $3 after ten years, the same loaf will probably cost you $6.
Therefore, when you invest, your goal should be to earn a return that is higher than inflation.
Let's say you put your money in a bank account that pays you 7% interest, which chances are you
will never see by the way. A year later, you have 7% more money. However, if inflation is above 7%,
it will buy less than when you started, even if you have more money in your pocket.
This is the reason understanding the difference between saving and investing is undoubtedly a
good omen for wealth. If your aim is to double your savings, you need to invest it so that the
interest rate or profit you earn is higher than inflation. To create wealth, all you
have to do is invest to beat inflation and do it regularly over time according to financial plans!
Sign #4: You have financial mentors
If you already have a financial mentor, believe it when I tell you that you’re on your way to
success. Many very successful people have this in common: They had a mentor. A mentor is someone
who is on the same path as you but is simply further down the line. From their experience,
they can provide the information and guidance you need for your chosen career path.
If you ask me, mentors are crucial to your success because, mentors will guide you,
among other things, on how to avoid potential pitfalls and how you could approach the next
steps in your career. A mentor can often facilitate networking between you and others,
which can also help advance your career. Getting a mentor can benefit you in many
ways and can definitely help you find success faster than if you didn’t have guidance.
In fact, you should be grateful that you realized the need for
a mentor and found one. Why? Let me break this down for you right now.
Starting, running, and growing a company can be a lonely and difficult task. Who did you
turn to for advice? From whom can you bounce ideas? And if you sometimes feel depressed,
confused, or just want an energy boost, who can give you that?
The answer is simple: you get a mentor.
There are many people who have built a business and there are many more
people who are passionate about sharing their experiences of what works and what doesn't.
A Zen quote states that a wise man learns from his mistakes, however,
an even more intelligent man learns from others. When it comes to making something new,
you have two options: the first is to put in years of hard work, learn by trial and error,
reinventing the wheel. The second is to learn from individuals that have
already walked that path. Mentors who have been there and done it.
In my career, I soon realized that observing and emulating successful people's habits,
processes, and attitudes was a reliable way to track my own success. Looking at this,
this was one of my most important life lessons, and it has stayed with me ever since.
This simple idea can be easily transferred to your world, and if you want to accelerate your success:
personally, professionally, and in your business, this is it: success modeling!
Now, keep in mind that if you have a mentor to guide you,
that doesn't mean there are no trial and error experiences. After all,
we know that a child learns to walk, by modeling the people around him but still
falls from time to time. Why does the second sibling usually develop faster than the first?
Because they have a role model to emulate and copy, they 'model success' from an early age.
It's a simple ideology; you inadvertently become the person you spend the most time with. There is
an expression that says, “If you want to fly with eagles, don't hang out with turkeys." Suppose you
want to be a high achiever and have surrounded yourself with like-minded people who share common
values that stretch and challenge you to grow. Your chances of success have increased just as
those of failure have reduced. Once stretched, the mind never returns to its original dimension.
Sign #5: You have numerous income streams
The last sign of people destined to make great wealth is that such people
have created for themselves multiple streams of income. Not only that,
they can successfully maintain and multiply these streams of income.
One way people build new streams of income is through active work. Most people who eventually
become rich start by trading time for money at a job or in their business. Then, they slowly
amass the assets to retract their time while still making money and seeing their bank balances rise.
However, beyond active income, making money while you sleep is another key to financial
prosperity. Let’s assume you’re a writer. The opportunities to make passive income
include writing a book or creating a blog with which you earn advertising revenue and
income from affiliate and product sales. At the end of the day making more money
in diverse ways is a tell-tale sign you’re about to become rich and if you really want
to take your wealth to the next leve, click on this next video and let’s get started!
Thanks, for watching guys, and I’ll see you in the next one.