Investment success is mainly about knowledge and personal accountability. To turn things around in your financial life, you have to develop a prosperity mindset. Start by taking responsibility and ownership of your actions. It creates freedom and control. It gives meaning to your life. Self-reliance is the great source of personal power.
Realize that most high net worth individuals optimized their education and marketable skills, maximized their incomes, lived within their means, saved regularly, invested smartly, and let their money compound over a long time. These things are not happening over night. Take the important step by adopting a prosperity mindset.
It all starts by understanding that wealth accumulation is based on 6 primary factors that are all under your control:
1. Your ability to maximize your income
2. Your propensity to save
3. Your appetite for risk
4. Your willingness to let your money compound
5. The investment costs you absorb
6. The taxes you pay.
Investment success is mainly about knowledge and personal accountability. This is how ordinary people become millionaires and not by inheritance or luck. They have a plan, stick to it and reaped the rewards. With time and discipline, you are able to do the same thing.
Sven Franssen