Here we have some simple wealth-building advice. Simple, understandable and obvious but not many people follow these principles.
1. Develop a desire to better your circumstances.
2. Create concrete goals.
3. Write down a clear plan to achieve your goals.
4. Have faith in your own success. Don’t give up when you run into inevitable obstacles.
5. Develop specialized skills or knowledge.
6. Master procrastination.
7. Develop self-reliance.
8. Adhere to positive habits.
Have you heard of PSIC? It stands for Plan – Save – Invest – Compound.
1. You must develop a plan to build wealth, something most people never do.
2. Live beneath your means in order to save, something not enough people do.
3. Invest, which many don’t like because it involves volatility and the risk of loss.
4. Let your money compound. Even if you’re a superb investor, you won’t get rich unless you leave the money untouched so it can multiply in value.
The ideas are the seeds that allow you to build successfully your personal wealth.