Assets create wealth by generating passive income and time. Invest in income generating assets which may include, cash investments, real estate, shares, loyalties, franchises and businesses.
Wealth creation is a journey which requires patience, discipline and focused implementation of a carefully thought out plan.
To become financially rich you must have a plan.
Identify your purpose. This is your vision. Write it down on a piece of paper and stick it a wall. Have a look at it every day to reinforce your purpose.
Determine your desired standard of living. This will set the benchmarks for the amount of passive income you will need.
Invest in yourself. Increase your financial literacy. Understand what it will take to achieve the level of success you that you desire.
Set concrete goals and be very specific. For instance 'I need a new job' is not a goal, it's a vague statement. Instead your goal may be 'I need a new company in the next two years'. Write your goals down and repeat them out loud to yourself every day.
Identify daily steps to realize your goals.
Learn from your mistakes and most importantly.
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