Preview

Wealth Creation

Good Essays
Open Document
Open Document
665 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Wealth Creation
Setting Goals For Wealth Creation
By Sean Rasmussen
Dec 6, 2007
The right mindset and attitude is essential to money making success. Without it, wealth creation will remain an elusive ideal, an unattainable dream. Developing a great wealth creation mindset starts with acknowledging your dreams for financial wealth; and that starts with identifying exactly where it is you want your efforts at creating wealth to take you.

Why Do You Need To Set Goals For Financial Wealth?

The most direct path to anything in life is one with a clear end-goal. This is especially true on the path to wealth creation. After all, if you haven't identified what success is, how will you know when you get there?

Goal-setting is critical to wealth creation. A clear
…show more content…
This is your life, your work; you should aim for the things that will really make you happy!

-Set a schedule for wealth creation by determining when you want the money you desire, when you the need the money to pay for life expenses and meet investment goals, and when you want to achieve ultimate financial freedom.

Do You Really Know What Your Financial Picture Looks like?

Jamie McIntyre, wealth creation expert, self-made millionaire, and author of What I Didn't Learn At School But Wish I Had, guides his readers through an interesting exercise in his book. Realizing that few people have an accurate picture of their financial status, he asks his readers to submit to a simple test before they even start setting their financial goals for wealth creation.

His readers are asked to make a guess, just off the top of their heads, at

-How much money it would take to be financially free
-How long it will take to make that amount of money

Jamie asks this because he has found that very few people can name a figure and time frame with much accuracy. Simply realizing this often serves as a call to action to 1) gain a better understanding of the overall financial picture, and 2) commit to the effort of creating wealth for financial

You May Also Find These Documents Helpful

  • Good Essays

    Can you really think your way to wealth and success? After over twenty years of extensive study of many of America’s magnates of industry, Napoleon Hill concluded that within the power of the mind lies the “secret” to wealth, happiness, and success. In 1937, he published his findings in one of the first of its kind, a philosophical, self-help book titled, Think and Grow Rich. In it, he outlines 13 key principles gleaned from his study of successful individuals, which if consistently applied, could bring success to the common man. Hill uses entertaining and inspiring real-life accounts throughout the book to demonstrate the effectiveness of the various principles. Most, if not all of the principles espoused…

    • 823 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    There is a powerful formula for setting and achieving goals that you can use for the rest of your life. It consists of seven simple steps. Any one of these steps can double and triple your productivity if you are not currently using it. Many of my graduates have increased their incomes dramatically in a matter of a few years, or even a few months, with this simple, seven-part method.…

    • 5202 Words
    • 21 Pages
    Powerful Essays
  • Powerful Essays

    Mid-Term Quiz Study Guide

    • 5663 Words
    • 23 Pages

    3. Building wealth: After you have secured your basic needs, you can begin to think about wealth building to meet future needs, such as retirement and college funding. With financial security comes the need to protect your wealth.…

    • 5663 Words
    • 23 Pages
    Powerful Essays
  • Good Essays

    In 1982, Dave Ramsey graduated from the University of Tennessee with a degree in Finance and Real Estate. Following those years Mr. Ramsey went from holding a net worth of over a million dollars, to losing his wealth to debt. He paid his “stupid tax” and began the journey of financial security. Ramsey begun to realize that the money trouble he had acquired had began with his own personal impulses and disciplinary disregard for this finances. He preaches that to win with money, you need to have self control and “live like no one else” now, so you can “live like no one else” later. (Ramsey, np) Discipline and having a plan for the future can help you with your finances today. “Put a name to every dollar,” Dave states, talking…

    • 417 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    assignment 4

    • 374 Words
    • 2 Pages

    6. Describe two financial goals that you would want to meet before you begin investing. Explain why you would want to reach those goals first. (2-4 sentences. 2.0 points)…

    • 374 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    - Someone can build wealth is to buy more stuff that makes money and buy less stuff that loses value.…

    • 593 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    The Wealthy Barber Summary

    • 1140 Words
    • 5 Pages

    Chilton himself boasts an impressive resume as the former president of a consulting firm, multi-millionaire entrepreneur and current television personality on CBC’s Dragon’s Den. His philosophy: Everyone should be informed on how to manage their personal finances. This way, we can prevent “raising generations of financial illeterates” (Chilton 14). Chilton recognizes that the average citizen is not educated on monetary…

    • 1140 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Week 1 Assignment

    • 962 Words
    • 4 Pages

    6. People have different styles when it comes to handling their money. List two different things that affect your personal beliefs and opinions about financial planning. How well money? Can you spot areas for improvement in your money management style, and if so, where/ how? Personally with me money doesn’t come easy so when I get it I have to save it not just spend it. I am not a person that will usually blow a lot of money. I am the type that will try to invest my money just as long as I know that whatever I invest in is real and not a scam I like checking the internet for ways of investing my money such as stocks and bonds. I can spot ways of improving my money all the time. I have trackers and online notifications that give me all kinds of ideals of managing my money and ways of earning more I recommend everyone to familiarize themselves with the resources of the internet.…

    • 962 Words
    • 4 Pages
    Good Essays
  • Better Essays

    The Millionaire Next Door

    • 892 Words
    • 4 Pages

    I always believed that you are considered wealthy when you make a high income. According to the authors, most high income earners are not rich, which surprised me. Most people with high incomes fail to accumulate any lasting wealth. They live hyper-consumer lifestyles, they spend their money as fast as they earn it. I always perceived millionaires as living the lavish life with their big sport utility vehicles and huge mansions. Well I was wrong, in order to accumulate wealth, one must not only earn a lot (play “good offense”), but also develop frugal habits (play “good defense”). This book focuses on spending less and earning more, which are required to succeed. Most books only focus on either spending less or earning more but to actually become rich you must do both.…

    • 892 Words
    • 4 Pages
    Better Essays
  • Good Essays

    Discussion

    • 559 Words
    • 3 Pages

    Financial decisions are extremely critical to social welfare. Many individuals have the state of mind that emphasizes the belief of how social welfare can be pursued through exercising one’s choice and making provisions to obtain the means to be financially stable. The world is increasingly becoming more financially integrated and complex, pushing average individuals and their families to make highly difficult, often irreversible financial decisions. Decision making in regards to every day financial decisions is just as important as deciding what retirement plans will be necessary, considering there might not be social security by the time some of us get of age. With the recession that the economy has endured in the last few years, the global financial crisis has displayed that poor financial decision-making can have significant costs for both individuals but also the overall society. The state of someone’s financial welfare ultimately determines their socioeconomic status in this world; therefore people should strive to be successful to reach their ultimate goals and learn to responsibly manage their finances.…

    • 559 Words
    • 3 Pages
    Good Essays
  • Good Essays

    I am driven by my desire to become a successful person in the future. As a child, I was eager and ambitious to learn about the astonishing world around me. It was made clear, that in order to become successful, one must have the potential to work hard.…

    • 500 Words
    • 2 Pages
    Good Essays
  • Good Essays

    In his book “The Wealthy Barber”, David Chilton tells the story of how he and his siblings learned about financial management from Roy, a local barber who achieved financial success through following simple planning concepts. Chilton provides his readers with straightforward, realistic guidelines and strategies for planning financially and real-life examples.…

    • 644 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    My Career Goals

    • 638 Words
    • 3 Pages

    “Setting goals is the first step in turning the invisible into the visible.” - Tony Robbins. Hard work,goals are hold much important for every individual if they plan to successful. Determination plays a big role in my character, which assists me in reaching my goals.…

    • 638 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    The Wealth of Nations

    • 3986 Words
    • 16 Pages

    The Wealth of Nations was published 9 March 1776, during the Scottish Enlightenment and the Scottish Agricultural Revolution. It influenced a number of authors and economists, as well as governments and organizations.…

    • 3986 Words
    • 16 Pages
    Powerful Essays
  • Good Essays

    The notion of success holds different meanings for different people. Such meanings have changed over time. Actually many propose that processing an abundance of money implies success. However, this view is rendered obsolete in the minds of those individuals who hold that one individual's success can not be measured by money.…

    • 395 Words
    • 2 Pages
    Good Essays