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How To Start Creating Wealth Now
Did you know that there are key habits the wealthy do that middle and lower class don’t? Creating the right habits can and will change your future. So what are these habits?
#1 Own a Business
This probably doesn’t make sense but statistically, it is shown that you are very unlikely to become wealthy when you are an employee. You just have enough ‘skin in the game’ to do the work and make the decisions necessary to accumulate wealth.
For tax reasons alone this is also a good idea! With a legitimate business, you are eligible for tax deductions that you cannot take as an employee. You are also only taxed on income that you receive after you take deductions versus as an employee you are taxed on all income. Of course, check with your CPA for the laws specific to your situation and location.
#2 Engage in Personal Development
We are like fruit there is no staying the same. We are constantly growing and ripening or rotting. So which direction are you headed? If you aren’t actively trying to swim upstream (ripening) then naturally you’ll head downstream (rotting). Personal development can be done in multiple ways.
- Books – reading a physical paper book which is still my favorite way to read
- Kindle – still physical reading but some prefer this
- Audio – I recently tried this again and found that although I still prefer reading physical books, I was able to ‘read’ more because I was able to find more time to listen than I did reading physical books. Which I loved because my list of books I need to read is always massive!
- Audio – Typically what I listen to are recorded seminar talks but there are plenty of podcasts of personal development
- Video – If you are a visual learner this might be your preference. You can find YouTube channels that produce personal development material. I personally subscribe to a program that provides video, audio recording and audio books. This way I am able to pull up whatever type of avenue I am looking for.
#3 Mindset
Some will argue this is part of personal development but I firmly believe this does deserve a point of its own. It’s probably the most important point of all.
If you think you can, you can. If you think you can’t you can’t, either way, you are right
Your mind is a very powerful thing. What you focus on and think about will grow so if you focus on how ‘broke’ you are currently that will be your future. If you focus on improving your finances, THAT will be your future. The same applies to your health if you focus and confess that you are healthy and happy and thriving that will be most likely in your future if you focus on how you feel like crap that will only continue to worsen.
I’d encourage everyone to read The Ant and The Elephant. That is one of the best books I’ve heard that explains how powerful the subconscious mind is and why this is so important!
YOUR ACTION STEP FOR TODAY – Choose one tip and start your path to creating wealth TODAY, then I would love for you to connect with me on social media. I want to hear what you are working on and if this has helped you. You can also head over to the Resources tab to check out some of my favorite tools to help start you on your journey!
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