The 10 Laws For True Wealth

It’s time to change your mind about money and wealth.

Freedom is more than financial, and living a wealthy life is about more than just making money.

Below are the top 10 principles you need to know when pursuing more money so that you end up with a happy, healthy, and wealthy life…

Give More Than You Take:

“We make a living by what we get, but we make a life by what we give.” Winston Churchill

To build true wealth, you must help improve other people’s lives as you improve your own. When you give more value than you take it helps everyone around you. Living this way means the growth of your financial wealth becomes a measure of how much you have given to others. Your success becomes an act of contribution.

Always remember, taking value may bring you temporary financial success but it can never lead you to happiness and fulfillment.

Live With Integrity

Never cause harm to other people or the environment, encroach on the property of others, or violate moral laws. Never insult, lie, or cheat for financial gains.

Follow the simple rule, “If it doesn't feel right then it probably isn't”. Don’t do anything you wouldn’t be comfortable telling your family about.

When faced with the choice between expediency and integrity, choose integrity because no amount of wealth can replace peace of mind and a clear conscience.

Find Your Inner Motivation :

Building financial wealth is not an easy path. It is a long and challenging journey that requires a deep rooted motivation strong enough to see you through to the achievement of your goal. Superficial motivators like a fancy car or endless vacations sipping umbrella drinks on a tropical beach won’t cut it.

Below are four proven motivators that can help you stay the course long enough to succeed:

1. Freedom from daily labor:This will allow you time to connect with family, indulge in your passion, or pursue personal growth so you can live your life to its fullest potential.
2. Capacity to share:Contribution is a powerful motivator because the more you have the more you can share. Wealthy families have significantly empowered social and environmental causes through the charitable foundations they’ve created. Maybe giving is your reason for getting.
3. Personal growth:When you’ve achieved financial freedom you will have more time to pursue personal freedom and achieve true wealth.
4. Capacity to inspire:Your success will inspire the people around you to follow in your footsteps and pursue their dreams . By achieving true wealth you will have the chance to help people break free from the shackles of financial mediocrity.

Have The Courage To Find Your Own Path

As social beings, we are afraid to do things differently and independently. However, wealth won’t be achieved by conforming to the majority. Wealth comes from doing things that others don’t so you can acquire the wealth they never will. It comes from following your own unique path in life.

Dare to be different. Be brave enough to take on new paths and learn new skills so you achieve your goals – even if it causes you discomfort.

Discipline Is The Key

Wealth isn’t built overnight. Get-rich-quick is a lie.

Instead, financial wealth results from many little things done right that accumulate and compound over your lifetime. This is good news because it means anyone can do it. There are no magical answers or sudden strokes of luck required. Instead, success depends on simple daily habits like saving, investing, and re-investing. It depends on regular investment education through reading and listening to podcasts that develop your financial and business intelligence daily.

When you have discipline you take regular action that produces regular results. Without discipline you will fall prey to the leading wealth killer - procrastination.

Live A Modest Lifestyle

The foundation of wealth is delayed gratification. Spend less than you can afford so you can invest the difference for greater value in the future. Materialism doesn’t bring happiness but it does keep you from achieving wealth. It will keep you attached to the superficial rather than connecting to the deeper motivation that drives you to achieve wealth.

Don’t be fooled by the consumerism myth that being wealthy is about living a conspicuous lifestyle. Most self-made millionaires live modestly – that is how they built their wealth. The truth is lifestyle conflicts with wealth building. Your resources are limited and can only serve one master.

Create Supportive Environments

The path to financial freedom is not easy. Few succeed even with the best laid plans because life incessantly gets in the way by throwing up obstacles and distractions. The key to success is focused, consistent and unyielding action. To achieve this objective create a support system that maintains your focus as you work toward wealth.

Properly designed environments will literally pull you toward your wealth goals. Structure your relationships, financial habits, daily routine, family and work environments to support and reinforce you plans. Eliminate contradictory environments that distract or drain your resources. Shaping your environments is the most efficient path to achieving your goals with the least effort required.

Nobody Builds Wealth Without Leverage

Leverage is the key principle to building wealth. You will achieve greater results in less time when your efforts aren’t limited by your own resources.

Below are the 6 types of leverage you should consider using:

1. Knowledge Leverage:How to work smarter – not harder.
2. Financial leverage:Other people's money.
3. Marketing Leverage:How to connect with many for the same effort as one.
4. Systems and Technology Leverage:How to get more done with less effort – automation, streamlining, standardized protocols.
5. Time leverage:Other people's time – employees, volunteers, assistants.
6. Network Leverage:Other people's connections.

You will never build wealth by trading time for money, and you will limit your success as long as you’re limited by your own resources. The key principle required for breaking through the obstacles that curb your success is leverage. It literally separates those who can build wealth from those who never will.

Manage Your Money Like A Business

Treat your money like a business because that’s exactly what it is – a growing wealth management business. Employ proven success principles in your wealth plan similar to a traditional business plan as follows...

• Competitive advantage
• Risk management
• Strategic planning
• Accurate record keeping
• Accountability milestones

You wealth plan should include all of these business principles while also incorporating your unique skills, interests, and resources so that it’s custom fitted to your personal life situation. You wouldn’t expect to succeed in business without a plan so why should wealth be any different?

Use Money Responsibly

You don’t own wealth: you’re merely its temporary guardian. Everything must pass including you and your money. Since you can’t take it with you the only alternative is to use it wisely while you are here and give it carefully upon death .

Always remember that money is a flow that passes through your control while you pass through this lifetime. Whether or not you use that temporary power wisely will determine the legacy of your life.

It will also determine if you lived with true wealth.

In Summary:

The goal for true wealth is not just financial success. It is about leading a balanced and fulfilling life that honors your deepest values. It is a about a life well lived.

As John Wicker wisely pointed out, "Wealth is not in making money, but in making the man while he is making the money."

When you follow these ten key principles you will grow your financial wealth, and more importantly, you will grow personally.

That’s what true wealth is all about.