If You Are Not Wealthy, It Is No One Else's Fault But Yours. It Is Simply A Lack Of Discipline, And A Habit Of Ignorance..

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It may be difficult to accept it, but it's true. The problem most people have isn't that they are uneducated, but actually because they are not strong enough inside. They don't have the will power.

Now, I did say "most". So for those who are a little uneducated on the topic of wealth creation, I am going to teach you exactly what you need to do. After that, it's simply a matter of what you choose to do.

If you haven't yet, I recommend reading my last post first, where I covered THE POWER OF COMPOUND INTEREST AND EXPONENTIAL GROWTH. Go read that article first to prepare you for this info :)

Becoming wealthy is VERY SIMPLE. If you are doubting that, maybe you will think otherwise afterwards.

Now, without further waiting, let's begin.

Have you ever wondered how someone is able to accumulate billions of dollars? Like, seriously.. You can't even stack together a couple thousand, better yet hundreds of thousands, better yet millions.. So how on earth does someone accumulate even $1 billion?

There are 3 aspects:

1. Time
2. Consistency
3. Dedication

THAT'S IT. That's how you become rich!

I will now explain this more in detail..

1. Time

Warren Buffett says that when he was younger he was always confident that he would be rich as long as he could live long. He is now 86 years old, and he followed these principles from the beginning. You know the saying, "Great things take time"? Well, I think it says enough :) If you read my previous article, then you would remember that I explain how exponential growth has it's biggest accumulations at the later stages of the process. This is exactly where it fits in. If you can understand this, and simply take small actions daily, you will undoubtedly be able to accumulate a lot of money.

2. Consistency

When investing, the biggest threat to most people is market volatility. With that being said, market timing plays a very big factor. The way to almost eliminate this threat is using a technique called Dollar Cost Averaging. @rossknows also mentioned this in one of my comments on my previous post.

Basically the function of this is to make very regular deposits at the same time intervals towards a set investment. I see it as creating an edge for yourself. You must decide how often you can afford to contribute towards your investment, but the point is to decide and stick to it.

Now, most people have an excuse for everything, and they might say "I don't have any spare money to put away". Well, then you don't want this badly enough! :) This technique can work with any amount as long as it is consistent.

3. Dedication

The concept is so simple. Absolutely anyone can follow it, especially in our day and age. Investing in 2017 is probably the easiest thing ever.. I will explain in a future post the different things you can invest into to become wealthy.

You might ask me now, well if this concept really was so simple then why are there not more millionaires in the world?? Well, it's something called GREED. Most people kill their fortunes before they can bloom because of greed. You need to be disciplined to staying dedicated over the long-term.

Examples

Let me show you why it is so easy to become wealthy, and why most people just don't get it done.

Most people have a survival mindset, and need to spend everything they have otherwise they will suffer..

EXAMPLE 1
Here's what most people will do. Say they have a spare $100. They find a nice investment, they put the $1000 in the investment and 6 months later the $100 is now worth $160. The mindset of the average person would tell them that the investment has only made them $60 in an entire 6 months.. They would maybe even compare it to their friends' that made $100 off of their investment. What they don't realize is that the investment made 60% return in only 6 moths.. That is 10% return per month!

They will 8 out of 10 times get annoyed and end up withdrawing anyways..

This isn't the most realistic example, but the point is these people fail to look longer-term.

Check this out, in this specific example, if that person just kept that investment at 10% per month, in 10 years time that $100 would be worth over $9 million.

EXAMPLE 2
Now I will show you why absolutely no one has an excuse. Applying the principles i mentioned previously, it does not matter what your base amount is.

In this example look what happens if you just keep $5 growing for 50 years at 30% per year (Yes, I have many investments doing well over 100% per year consistently, it's realistic)

In this case, over a 50 year period, just a mere $5 would be worth over $13 million.

That is just with $5, and only 50 years. I know it's a long time, but Warren Buffett has been investing for over 70 years. Makes sense now right?

Now, let's make that $5 rather $500. After 50 years your $500 would be worth a mere $1.3 Billion.

Did I answer your question? Are a little more confident right now? :)

And I didn't even do a Dollar Cost Average example. That one kills the one I just showed you by far.

The examples I just showed you are the easiest, most likely cases because they are safe. There are more cases to do this in a shorter time frame. All it takes is discipline :)

I hope you learnt something today!

Sorry if it was long. It was a lot of info though :P

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