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Keys to Wealth Building

May 30, 2021 by  
Filed under blog

Most of us want to build our wealth and I have been very fortunate and quite successful in that regard. Friends as well as strangers have asked me many times about the secrets to my success. I wouldn’t call all my methods secrets but I guess if you don’t know them, then they are secrets to you.

So, here’s a few of those so-called secrets that have helped me a ton:

1. Read good books about finance, then think about what you’ve learned, and find someone who has been successfully building wealth to discuss your ideas with.

2. Record your thoughts in a journal as you read. This will help you retain knowledge.

3. Write down your goals along with the time frames for reaching them. As you probably know, writing goals with time frames drives your brain and body to follow through and do it.

I love this quote: “Always have two books—one to read from and one to write in.”

Let me explain a bit more about the first point—the part about finding people that are good at what you want to learn. All my life I’ve looked for mentors—those people that are good at what I wanted to learn and do.

The famous billionaire Warren Buffett said, “I was lucky to have the right heroes. Tell me who your heroes are and I’ll tell you how you’ll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit forming.”

I was very fortunate to meet Larry Rosenberg, a very, very rich man, and he was kind enough to mentor me. He not only referred me to the best books to read to lead a person to huge wealth, he also spent lots of time with me over lunches. He gave me great advice, hints, and direction concerning where to look for the best properties and what to do to fix them up to greatly increase value and then sell them. Wow. His advice sure worked wonders for me.

If you want great wealth, or more wealth, start digging. Read the right books and research who you should get to know. Find the right super successful, wealthy people and asked them to mentor you! Yep, if you want it, go do it.

Three More Buried Secrets

July 31, 2015 by  
Filed under blog

A secret is some bit of knowledge that is kept from someone or many someones. Last week I spotlighted those truly terrible secrets … the ones we hid from ourselves! When you are trying to accomplish something that is challenging or simply hard to stick to, you need every tool you can get your hands on. But so often, we have been given these tools and then hide them away. Why is that?

Well, if you read last week’s post, you now know (or have been reminded!) what some of the most important ‘secrets’ are to accomplishing both small and large goals. But wait … there’s more! Let’s take a look at some of the other great ‘secret’ tools you have available to you to make your dreams happen!

No. 5: Establish a routine and keep with it until your routine has truly become a hard and fast ‘habit’!

This is a big one. Form the right habits and you can change your life forever.  You know as well as I do that this is true whether the habit is a good one or a bad one.  Scientist have determined that it takes anywhere between 21 and 66 days to form a solid habit, depending on the person. You and I must stick with the routines that are leading us toward our goals long enough that they become rock solid routines.  If we do that, we’ll see that sticking to our plans and reaching our goals will become easier and easier.

No. 6:  Break down those big goals into what I like to call ‘bite-sized’ steps.  For most of us, and I know for me, if I don’t break it down into small goals or bite sized tasks, those big goals can break me down. Why? Because those big, long term goals can overwhelm the mind and shut a person down. It’s easier to do the small stuff and they eventually add up to something big!

No. 7: Set up a reward system for yourself. That is, when you hit your goal and maybe even along the way as you take those bite sized steps or reach intermediate points or milestones of success, take time to celebrate your victory. You can reward yourself with a special night out on the town or a huge getaway vacation to an exotic place. Whatever it is, make it super special and something that you will always remember.

That is a long list of ‘secrets’ you can use to help you reach your goals. But one last thought–If you don’t hit your goal or you miss a deadline, don’t be too hard on yourself.  Remember, some of the most successful people on the planet had many, many failures as they pursued their big goals.  It really is okay to fail–almost everybody does at some point or another. The thing is, failure can lead to even greater successes, so if you fail and fall down be sure to get right back up, reload and reset and keep going!