Philip Harman People today have a great desire to be wealthy, but few have a plan to achieve it. The secret to gaining wealth is steady growth. Anyone in America can achieve wealth, if they will plan and focus on the goal one day at a time.
We all watch the T.V. programs that show the lives of stars. We see them driving nice cars, living in lavish homes, seemingly on vacation 24/7. But is this reality, possibly for a few. These types of shows sends the mind racing dreaming of being rich and living that way. What you don’t see is that alot of the lifestyle that is shown is supported by companies, and not the stars themselves. This is part of the perks, they receive for publicity.
The vast majority of wealthy people in America, do not live this way. To the contrary studies show that most affluent people live below their means, and always have. They opt to save rather than spend. The problem is, no one notices them until they are wealthy. At this point the years of steady savings have started to pay-off, and they can enjoy the money a little. Buy a nicer home, or a nice car. This is when people notice. To them it is a culmination of a lifelong plan, to you it appears to be over night success.
Perhaps, if they would have invited you over for the past fifteen years, to help calculate their budget and plan their spending you would not see it this way. See, unless you win the lottery or inherit a fortune, you will probably never be wealthy. If after reading this article you only remember one thing, remember this next sentence. Wealth does not sneak up on you, you have to sneak up on it.
To be wealthy you need to plan your attack years in advance. Right now there is someone living within a few blocks of you, that will one day be wealthy. Right now, you are both in similar circumstances. But as the years pass, they will pull away from the crowd. They are routinely planning for this day as we speak. They are not necessarily planning to be wealthy. They just want to be comfortable, but the strategy is the same.
Here’s an example to show my point. Middle class Americans carry an average of $15,000.00 on credit cards, they earn $65,000.00. This is debt equivalent to 23% of their yearly earnings. This 18% of their net worth. Wealthy Americans carry less than 1% of credit card debt, compared to their net worth. This is an astounding difference.
Everyone has heard people say the rich get richer while the poor get poorer. Well, continuing to amass unneeded debt and interest this way helps make this phrase true.
People complain about Governmental policies being in favor of the rich. There is no amount of Governmental policies that can create wealth for the masses. The hard truth is that only one person on earth can do that for you, and it is you. Most people do not like that, but it is the truth. I hate to say it, but the truth is, to 99.9% of the world it really doesn’t matter if you become wealthy or not.
Now for some good news, once you start to plan, budget, and save it does not take long to reap rewards. I don’t mean being rich, just relaxed. Soon after you make this change you will see that you do not have to about the mortgage payment and other bills being paid. Your budget will automatically take care of that. All you have to do is watch it and stay on it. Within a few months money worries will be a thing of the past.
After a few months you have gained the most valuable benefit of wealth, financial peace of mind.
In my life, I watched my parents save and manage their money. My Dad did not have a high paying job, and my Mom was unable to work. Some of the close relatives around us earned far more than my Dad, yet today my parents are as secure financially as any of them. More than some. They had to plan and budget for years to achieve this success, a habit they still have today.
Today I pattern my life after them and it has been a blessing.
