Why is it that everyone wishes for wealth yet so few attain it?
It's not because they are not smart enough. It's not because they are not educated enough, and it's not because they don't work hard enough. On the contrary, most people already work too hard.
Why is Wealth Elusive?
The truth is that most people already posses all the qualities they need to attain wealth. So, why is wealth so elusive?
It comes down to not following a plan, a system, a method to accumulate wealth.
Call it what you like, but it's a fairly simple way of living that leads to wealth, and the overwhelming majority of people do not follow it.
You Need a Goal And a Plan
We've all heard it before. You must have a goal to become wealthy, and you must have a plan. It's as simple as that.
The catch is that all the plans and desire for wealth in the world usually lead you nowhere.
What's needed is a basic approach to daily life that results in small increments towards wealth.
Spend Less Than You Earn
In its most basic form it means that no matter what your earnings are, what your wages are, you must spend less than you earn. As Benjamin Franklin put it, "a penny saved is a penny earned."
Pretty simple, right? And you've heard it all before.
The key to wealth is to implement this simple process every single day, no matter what life throws at you. We all have obligations that seem to be just beyond what we earn, but we have to cope with these things.
In order to follow the plan outlined here, you have to spend less than you earn. The common wisdom is to spend no more than 80 percent of what you earn. The remaining 20 percent of your income should be invested in wealth producing vehicles.
Pay Yourself First
The way you ensure you're doing this is "to pay yourself first." You are the most important recipient of the money you earn, so pay yourself first.
You must have first claim over what you earn, so don't cheat yourself by standing at the end of the line of people taking a bite out of your earnings... pay yourself first.
Which investments to make is beyond the scope of this discussion. There are safe, well above average ways of investing to grow your wealth. You just need to do sufficient research and evaluate the opportunities you discover.
Caution And Common Sense
But use caution and common sense. Study the methods of wealthy people you know, or read about. Learn from the methods they used to accumulate wealth.
Youth Is A Great Advantage
The best time to put this plan into action is when you are young. If you learn, if you really understand the power of compounding interest, you will see what an incredible advantage you have if you are young and put these wealth creation concepts to work.
However, all the advise and recommendations will not help you unless you put what you learn into practice, staring today.
Get Started Today
Do not wait for the perfect time to get started. Do not fool yourself that you can't start now, that you have to wait till next month, or next year when you expect to be earning more money.
What will happen is that when that time comes, you will have still greater obligations to cope with.
Start now. There never will be a better time than now. The sooner you start, the sooner you adjust to living on 80 percent of what you earn, the sooner you will see that 20 percent you save and invest growing, compounding into astonishing wealth over time.
If you find yourself at another stage in your life, if you are approaching retirement, or even in retirement, you can still make this system work for you. It's never too soon to get started, and it's never too late. Just start now.
There never will be any time but now, so get started now.
No Need For Self-Denial
This method of accumulating wealth is not about great sacrifices. It's not about self-denial. It's about living sensibly, it's about paying yourself first.
Then taking care of necessities, including well deserved vacations, and other personal luxuries you enjoy.
These are also an important part of your life. Just be smart and creative to maximize the use of that 80 percent of what you earn.
Free From Financial Stress
As the weeks, moths and years go by, you will discover you have achieved a life free of financial stress. That's a prerequisite for a happy life.
Article Source: http://EzineArticles.com/?expert=Juan_A_Rademacher
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