Growing Your Wealth

To grow your wealth, you must ask the tough questions and do the right things. It’s not hard. It’s simple, and yet, it’s not easy.  Everyone can do what it takes to become financially free. You just must commit to doing it.   

As you read in my last article, “The M&M Theory,” I am creating a series of blogs on helping you create financial freedom. I will take you step-by-step through what you need to do to analyze the financial picture you have now, and what you need to do to create a plan going forward to create your own financial freedom. I’m going to lay it out in a step-by-step fashion—maybe in a way you’ve never seen before—so you can create financial freedom and financial abundance in your life.

There is no reason that living in America, the richest country in the history of the world, in 2019 we should not have financial freedom.  In the process of creating financial freedom, we need to start with gratitude and realize we are already rich because we live in a country which allows us to have the freedoms to create wealth and abundance. We’re rich because we happen to be born in a country full of abundance, which is something we didn’t earn but was gifted to us. We must learn to be grateful and to take advantage of this gift that was given to us. Bill Gates said it best, “If you’re born in America and you’re born poor that’s not your fault. If you die in America 50 years later and you’re still poor, that’s on you.”  This series will help you understand how to get out of that rat race.

Ask yourself the following question… 

What do we need to do to ensure our own personal wealth and well-being, regardless of economic and business circumstances? 

Take some time to think on this question and answer it.  Answer it completely. What steps would be necessary? What would you have to put in place that you don’t currently have in place? What program would you need to start that you are not currently doing? What insurance should you have that you currently don’t?  What education would you need to get?  What expenses would you need to cut?  What income stream would you need to add?  Make a list of everything you can think of that would need to be put in place, removed, or done to have the answer to that one question.   

Now, take the list you just created and start to prioritize your it. Do this in two ways.  Prioritize it from most important to least important: “If I could only do one thing the most important would be…” then, “If I could only do two things the more important would be…, “etc. until the entire list is in order of most important to least important.  

Next, prioritize the list the second way: which thing you should do first, and then which thing you should do second, etc. Ask yourself, “What is the most important thing I can do right now on this list? What is the second most important thing I can do on this list?” and re-order the list based on what order of things that can be done and accomplished today.

Finally, take the first list and look at the most important thing and create steps to accomplish it. The most important thing may be multiple steps and it may take several weeks, or months, or years to accomplish. That’s OK!  Start writing out the steps on how to accomplish it. Then, take the second list and start planning when you’re going to accomplish each of the steps.  Now, you should have two lists, a list of the steps for the most important thing and the list showing what order you’re going to accomplish them.  In the second list, take the most recent things you’re going to start accomplishing and start adding them to your calendar and doing them.  What can I do today to get me to where I need to be?  What can I do tomorrow? What can I do this week? What can I do this month? And what can I do over the next 90 days? Now, you’re creating a plan for financial freedom. 

Remember, you are the answer to the question, “How do we ensure our financial security regardless of economic or business circumstances?” So, what that means is you are creating true financial freedom regardless of what else happens in your life or business. There will be hills and there will be valleys.  Our life is about climbing those hills, getting to the top of them, and looking at the beautiful view from the top of the hill. To climb the hill, you must go through some valleys—you must work!  This is not a “get rich quick” scheme, this is getting rich the right way.

Keep Living Every Minute,

Dr. Tim