But what is wealth really?
Do you believe that wealth means a big income?
Not at all. There are many who earn six-figure, even seven-figure annual incomes who are by no means wealthy. Many of them are no better off than workers earning much less. They are deep in debt with million-dollar mortgages, car loans of six or seven years duration, and tens of thousands in credit card debt. They live hand to mouth because they live beyond their means.
These big earners are no more wealthy than you or I. At the end of the month, they have to scramble to pay all the bills. If they miss a paycheck, they risk losing it all.
So, what is wealth?Wealth means being able to continue your lifestyle without regular income. It’s as simple as that. If you could stop working tomorrow and keep your house, keep your car, keep the rest of your lifestyle, then you are wealthy.
So ask yourself:Who taught you to manage your money? If you’re like most of us, the surprising answer is probably no one. This is the number one reason why people fail to become wealthy. They don’t understand what wealth truly is and they don’t know how to achieve it.
Assuming that others will take care of our finances.Most people tend to take the line of least resistance. They think that as long as they pay their bills on time the big picture will take care of itself.
Maybe you believe that your employer’s retirement plan will be all you need to care for you in the future. Think again.
Maybe you believe that the government will provide. That’s not a sure thing either.
The only one who cares enough to take care of your finances is you. So it’s a good thing you’re reading this book. It will take you a long way in the right direction.
Greed.If you think that there are quick, reliable ways to wealth, then you’re reading the wrong book. This is not about getting rich quick. This is about achieving wealth through a systematic plan over a period of years.