The Wealth Formula – Taking Action

When it comes to building wealth, there are certain principles that, if followed, will lead you to achieving the income, wealth, freedom and lifestyle you desire much more quickly than otherwise. Among these are the principles of taking action, having a mentor, possessing the right mindset, adhering to a daily plan, and committing to the accomplishment of financial freedom.

By contrast, you do NOT need to “have money to make money” or be exceptionally intelligent or gifted to build wealth. In fact, building wealth is possible for just about anybody. If this wasn’t the case there would be no such thing as a “rags to riches” millionaire. Nor would there be the reality of people who have been born with everything… who subsequently lose it all.

So what enables someone with nothing, or who may even be deeply in debt, to rise from their current circumstances and build incredible wealth? It begins with a decision. A decision that building wealth is important to them, and that they will do whatever it takes to build it. Part of “doing what it takes” is working out what measures you must take to build wealth. In turn, working out these measures begins with answering a few simple questions. Questions like: “What do I need to know?”, “How have other those I admire built their wealth?” and “What can I do right now to begin my wealth building journey?”

One of the key principles of building wealth is the principle of taking action. Taking action is all about making it happen. In other words, once you know what should be done, you stop being lazy and actually DO IT. Some people argue that “taking action” is too simplistic. That there may be a variety of reasons why someone can’t take action, and that these reasons are what prevents that person from building the wealth they desire. Well, there may well be challenges on the path to wealth. You may be in a lowly paid job. You may be living from paycheck to paycheck. You may not have any money. You may be in debt. But are any of those reasons enough to stop you from taking action?

The answer is “no.” You see, if you face challenges on the path to building wealth, then, to begin with, “making it happen” may simply be taking whatever measures are necessary to overcome those challenges. For example, if you don’t have much money right now, taking action doesn’t necessarily mean investing in the stock market! It could be, however, cutting your spending and paying off debts. However, not doing anything – and instead lamenting your situation instead of taking measures to get out of it – WILL hold you back from building wealth.

For most people, building wealth is not something that happens overnight. Nor does it rely on good luck or joining the latest “get rich quick” scheme. There are all kinds of ways to build wealth – from investing to running a business. But the “how” is often not the critical piece in the wealth formula. Much more important is the desire to build wealth and the application of the tried and true wealth building principles necessary to build it. Go for it!

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