In this age of instant gratification, ‘get rich quick’ guides are a dime a dozen and everyone has an opinion on how it should be done. What self-made billionaires around the world know, however, is that there is more to wealth than mere gimmicks or ‘hacks’.
For starters, every globally successful individual believes in the quote “nothing worth having comes easy”. They believe in a holistic disciplined approach that helps them grow wealth in a sustainable manner – the kind that doesn’t appear or disappear overnight.
Here are some actionable pieces of advice from the lives of wealthy successful people the world over.
- Live frugally:
This is advice that has always been around but never has it been more relevant than in today’s age. The point of living frugally is not just to be conservative but to limit expenses to necessities. Looking at your belongings from that perspective will help boost your savings on a consistent basis which can then be invested in avenues with good returns.
- Read consistently:
Our parents and teachers weren’t exaggerating when they said knowledge is the best kind of wealth. Keeping abreast of news and information is a great way to ensure that you don’t miss out on opportunities. Whether you are a novice investor or an experienced one, knowledge can make the difference between an informed decision and a reckless one. Here‘s where you can pick up a list of what Warren Buffet and Bill Gates read.
- Get healthy:
Endless wealth without the required level of good health to enjoy its benefits is rather pointless. Maintaining good health also cuts down on medical expenditures and empowers you to make better life decisions, money-related or otherwise. Balanced diets, regular exercise and sports form an important part of most wealthy people’s daily schedules.
- Network right:
Successful people carefully vet their social circle to include individuals who inspire and empower them. Surrounding oneself with positive outlook and energy is underrated. When your social circle isn’t optimal, you might find it harder to progress and stay motivated.
Owing to all the short-lived buzzwords online today, mindfulness doesn’t get the credit it deserves. The concept has been around for ages and essentially refers to clearing your mind to improve decision making. Whether it is via meditation sessions, writing a journal, yoga or other practices, the idea is to stay present and operate from a place of clarity. This makes every action purposeful and carefully considered. Mindfulness also gives birth to joy and happiness. It improves concentration and you have a chance to make a breakthrough, to achieve formidable insights.
- Seek mentoring:
Mentors can provide valuable objective viewpoints that could be difficult to find otherwise. There are multiple ways to seek out the right mentor for your requirements. A mentor can keep you on track and provide insight on whether you are on the right track or not. But, don’t rely on your mentor to solve all your woes. Do your homework and take the time to find specific areas in you and your business need growth and maximize the impact of the mentorship.
Operating in a vacuum can skew your perception. One way to get well-rounded insight is to include feedback. Whether it is from employees or superiors, it can provide much needed food for thought. If you’re familiar with the concept of ‘Flow state‘ you know how important feedback is to achieving flow.
- Be generous:
It is a misnomer that being wealthy requires people to be stingy. On the other hand, wealthy people are generous with their resources to deserving causes. Whether it is money, time or expertise, they see the act of giving as an aspect that will build on itself to create rewarding outcomes.
- Multiple income sources:
One smart approach that almost all wealthy people adopt is to increase their income sources. This means that the paycheck from their work is not their only source of income. They are known to have diversified investment portfolios which reap handsome returns.
- Avoid shortcuts:
Being wary of spurious schemes is of paramount importance. There are plenty of tempting offers that promise immediate increase in wealth. Their credibility, however, is minimal. Understand that growing your wealth, like all other gains, takes time and patience. Haste and poor judgement can cost you dearly.
At the end of the day, it is worth acknowledging that being wealthy is more than just having a fat wallet. Good health, a mindset of growth, quality associations and relationships are all equal contributors to a sense of success and wellbeing.