by Darpan Sachdeva
During course of my journey studying and learning Rich and Successful, I have concluded that there are certain secrets to their success. Once you get rich and on the path to create wealth in life ,there are 7 secrets that have come up studying from the super rich that have created wealth for them.
1.Pay Yourself First:
We have often heard this analogy at different times This also holds good for the financial success. We do this all the time. At our first Paycheck or first income we tend to buy those expensive stuff we have dreamed of ,we buy that expensive gift for our spouse or the loved ones. There is nothing wrong with doing this .But this would make sense e after you have set aside a fixed amount for your savings.
The savings are most important pillar for you to create the wealth in the long run. Tony Robbins talks of this often in his money teachings that 10% of his incomes he sets aside for the long term investments as goes out for him as a tax payments from all his incomes.
This is number one of the Secrets To Creating Wealth.
2.Control Your Expenses:
Living within your means is the most important in creation of long term wealth. Having an Instagram lifestyle is all good so long it remains within your budget. Make your living budget. Save money and invest into wealth creation.
Billionaire and world class investor Ray Dalio says for him the savings and reinvesting his savings into stocks from his earning as a Golf caddy were the starting point of the wealth creation for him in life.
So how much do you have in savings for yourself or invested your savings into the wealth creation?
To get knowledge of budgeting and reinvesting money surround yourself with people who are masters in money management. Try to follow and learn from world class financial gurus and coaches.
Be vulnerable in regards to your financial standing .There is no reason to be ashamed of it. Have a good spending habits .
This is number two of the Secrets To Creating Wealth.
3.Make Your Money Multiply:
Trading “Time for money” is the standard way for living as we live in this world. You can earn a fixed and finite amount of money only in exchange of time. To create wealth you have to create leverage on your incomes. To be able to create Passive Incomes. This is the way super rich create wealth .
I understand that not all of us in the beginning have the possibility and means when you have bills to pay and responsibilities. This can be started at microlevels of investing like stocks ,bonds and real estate investments.
Many billionaires today had started their journey this way .
This is number three of the Secrets To Creating Wealth.
4.Protect Your Money:
Always have the long term goal while creating wealth.
Multimillionaire investor and New York times best selling author of “I will teach you to be Rich”,Ramit Sethi is a strong supporter of the long term investing. He claims to have automated investments done for as long as up to 50 years .
Diversification of your earnings portfolio is another way to multiply wealth.
Never put all your eggs in one basket.
5.Own Your Own Home: (7 Secrets To Creating Wealth)
Create your own ways to have multiple income streams .Invest in yourself. Create money building process for yourself that will create for you liberation.
Real Estate and Stock market are one of two important fields to invest money into and to create wealth.
6.Increase Your Future Incomes:
Invest in yourself in self- learning and make your self recession free. Create and build your own expertise and share it with the world. Trust me every body has some thing unique within to share with the world.
This will help you have the confidence create incomes at higher levels in the future. Keep learning always.
7.Increase Your Ability To Earn More: (7 Secrets To Creating Wealth)
How do you do that?
-Increase prices for your services you are rendering.
-Increase the number of leads you are earning as on date.
-Improve your business processes and optimizing them.
-Increase the number of products.
-Invest into the quality of your team
Richard Branson attributes to this as one of his fore pillars in wealth creation and success he has got.
-Never stop learning and investing in your selves. Hire those mentors and ,coaches. Read those financial books .Go to seminars and conferences. Keep learning and growing your horizons.
Darpan Sachdeva is the CEO and Founder of Nobelthoughts.com. With a long time passion for Entrepreneurship, Self development & Success. Darpan started his website with the intention of educating and inspiring like minded people all over the world to always strive for success no matter what their circumstances. To keep going and never get disheartened and learn from every adversity.
