We have all seen those get rich-quick-schemes and articles outlining the ‘Top 10 Ways to Become a Millionaire’. Since they work well, why am I not rich yet? I mean if it’s that easy, right? I have been getting bombarded with these ‘helpful’ guides lately and they are just ridiculous. I have read tons of these sleazy road to riches guides that seem to overtake social media and they have actually become quite comical. We all know the basics: win the lottery, invent a product like the iPhone, start a YouTube page that gets billions of views, or marry for money. I even read one get rich guide that suggested you ‘Buy a Rare Item at a Yard Sale and Hope that it is Worth Millions’. I actually laughed out loud at that one. Don’t get me wrong, some people have become very rich by doing these things. But let’s get real here, they are the 1% in this equation. Or maybe much less than 1%. I’m not saying that you can’t create the next Facebook or Tesla, I’m just playing the odds.
So what about the other 99% of us? What can we do to become rich? It is a bit more boring than going to a garage sale and finding Alexander the Great’s Macedonian Sword. It’s discipline. A lot of the get rich schemes and ideas are fads or unrealistic. They come in hot and then crash and burn. If you want to get rich, be disciplined for a long time. When I say be disciplined I don’t mean be motivated, because I feel people get the two confused. I’m sure most people are motivated to become rich or get in shape, but how many people have the discipline to see it through? It’s about consistent action, and as it turns out motivation doesn’t really help the process. It’s discipline that will catapult you to your financial freedom or whatever goals you have. The constant pounding on the pavement, sticking to your plan during the tough times and good times, will be the deciding factor.
The good part about starting on your road to riches is it’s relatively simple. If you do two things consistently, you will be amazed at how fast compounding works. The first is easy and everyone can do it.
- Save Some Money – Pay yourself first and always save! Check out our savings blog for a quick overview.
- Invest Your Savings – Don’t just let your money sit. Having your money invested and being able to realize that the power of compounding in your portfolio is profound. If you plan on being the next Steve Jobs or Elon Musk that’s great, but in the slight chance that you will get stuck with the 99% of us, it only makes sense to start your ‘backup plan’ now, right?
No matter your level of income or investable assets we like to work with people who understand the principle of being disciplined when it comes to their finances. We believe that money is not just for survival, but it can help us thrive and leave a legacy for our families and loved ones. There are many ways to achieve financial freedom and not all of them will work out, but remember to save and invest consistently. No matter what happens, you will put yourself in a very good position to thrive and achieve your goals.