Looking at the millionaires around, I figured that there must be a lot of wealth around us. So, how do I get to be wealthy?
I noticed that some people become wealthy through entrepreneurship, business ownership, real estate, stocks and bonds. I also notice that some become wealthy from their fame and popularity in music, movies, sports and social media influence. Some don't seem to make much money, work on salaried jobs, live normal lives yet become wealthy.
How do they do that? Different people use different strategies. Which strategy do I use?
I didn't have to go far looking for the answer to that because many people have already researched this to uncover the strategies. People whom I consider to be more expert and authoritative than I am.
LONG-TERM STRATEGIC THINKING - This is the mindset for creating solid and lasting wealth. This strategy is underscored by the studies and examples that were modelled from:
• Research Study by Srully Blotnick, Getting Rich Your Own Way (1980)
• Wealth Creation Expert and Author, Robert Allan
• Research Projects by Thomas Stanley and William Danko, The Millionaire Next Door (2000)
• Wealth Creation Expert, Robert Kiyosaki, Rich Dad Poor Dad, Cash Flow Quadrant
I am sure that you may have come across some if not all of the above works. They underscore the same thing; that wealth is created daily over some time and not in a day.
My personal experience was that it was very easy for me to accept and appreciate this intellectually. However, emotionally, it was another matter! What about those people to make their riches overnight? Some of them are still very young; even half my age. Yet, they make more in a year than what I make in my lifetime! What's their secret?!
It was hard for me to emotionally accept that creating solid and lasting wealth requires long-term strategic thinking because I was caught up in The Biggest Myth in Wealth Creation. You may be wondering "What is The Biggest Myth in Wealth Creation?" It's the "Get Rich Quick" mentality; there is a short-cut to getting rich. It was not until I managed to rid myself of that old mentality, was I able to fully understand that there is no replacement for putting in the effort for the long-term.
It was then that I was able to appreciate that these so-called "overnight millionaires" did not become millionaires overnight. They did the work. They paid their dues. Like an iceberg. We see the beautiful, glistening tip and be in awe of its majesty. What we don't see is the larger body of ice under the water that keeps the iceberg stable.
This structure of wealth that I am learning reveals to me that part of the iceberg that is below the water level. When I get that done, I will get to that beautiful and glistening tip. Would you like that for yourself too? Would you like to create solid and lasting wealth that will weather the storms that will come in the future? Let's do this together!
Thank you.
M Marzuki Mohamed
#insideoutwealth #resilience
Photo Image: I gaze upon an iceberg and what do I see? The majestic beauty of nature. Yet, beneath the surface is the larger body of ice that is the source to that beauty.
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