Wealth is 80% psychology and 20% mechanics.
(You can read more about it here.)
Keith Cunningham does a great job going over 7 wealth strategies and I would like to share.
- Pay Yourself First: The oldest and most proven point to wealth creation (that would include investing).
- Discipline: Not wanting it all at once, saving, planning.
- Life Style vs. Wealth Creation: Living a little less expensive lifestyle in order to accumulate wealth.
- Focus & Freedom: Making powerful habits when it comes to money, focusing on the importance of wealth.
- Financial Competence: Have some financial knowledge when it comes to money, business and investing skills.
- Leverage: Use other people’s money, time and networks.
- Risk: You must have the nerve to risk on occasion and lose on occasion.
Action Step for You: See how you are doing in these seven areas, pick out one or two and set a plan to become better in that specific area.
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