Wealth MindsetBy: Jermaine Harvey, Portfolio Advisor Posted:
The book ‘As a man thinketh by James Allen, gives a profound and factual description of how one’s mind controls one action and character, it shapes our attitude and our perception.
The idea of being successful, be it in your job, your marriage, your finances starts within your mind. Your success in those areas will be dependent on the mindset you create, which eventually shapes your collective attitude towards a successful marriage or wealth. Therefore creating wealth starts by creating a wealth mindset.
A wealthy mindset means spending wisely, creating multiple sources of income and choosing the right investments which can grow your wealth and looking for ways to improve your overall financial position while avoiding unnecessary risks.
Do you know that Robert Kiyosaki, the author of Rich Dad Poor Dad book, once found himself completely penniless and in deep debt of over $1 million?
Even under those circumstances, he proclaimed he was a rich man. He knew he had the option to give up building wealth again. But he didn’t.
“I am a rich man — and rich men don’t do that!” he declared to his wife with baffling confidence.
Despite nothing in his bank account, his mindset of wealth remained stronger than ever. He has since gone on to create a huge fortune through his Rich Dad Poor Dad curriculum.
So, you see, building massive wealth only happens when you have a firm belief that you can do it. Developing a wealthy mindset will help you stick to your financial goals and find ways to increase your earning potential. To obtain the type of financial independence you’ve been dreaming about all your life, you must learn to develop a “millionaire mindset.
Wealthy people spend much more time thinking about their finances than people who remain poor. The average adult spends 2-3 hours each month studying and thinking about their money, usually at bill paying time. The average self-made millionaire, by contrast, spends 20-30 hours per month thinking, studying and planning his finances. This wealthy mindset, the very act of focusing on your money, will dramatically improve the decisions you make about it. Wealthy people who invest more time planning their finances invariably make better decisions, get better results, and achieve financial independence.