- Start saving money as early as possible.
- Always spend a minimum of 10% less than you make.
- Invest the money that you don't spend.
So you want to be rich? I can tell you how right here and now. There is a very simple three-step formula that will create wealth. It's a formula that has been proven to work over the years. Best of all, it's so common that you likely already know it.
3. Patience helps avoid "get rich quick" schemes: Whether it is the lottery or some hot stock pick, the urge to try to get rich quick is glorified in the media. The problem is, most people who are rich don't get there the quick way. Most have built their wealth over time. While the media glamorizes the few who do get rich quick, most people who try that route don't end up wealthy. 4. It helps you stay on your wealth-building plan: Wealth doesn't usually appear instantly and doesn't present itself unexpectedly. It usually takes a well-thought-out plan over a long period of time. Taking the time to build a solid plan and then sticking to it will ensure that you have a much greater chance of creating and keeping your wealth than if you try to make your fortune instantly. 5. Patience helps you look long term: Even if you create a solid wealth-building plan, there will still be bumps in the road. When these bumps occur, it's important that you have the patience to stick to your plan instead of panicking. If you end up abandoning your plan at the first sign of trouble, you will likely end up much less wealthy than if you have the patience to stick to your plan the entire time. Stocks fluctuate over short periods of time, but they usually go up over a long period of time. It's important to take a patient, long-term view in wealth creation. You now have the secret to wealth creation. You have a simple plan to building wealth that works. You know exactly what you have to do. There is nothing stopping you from becoming wealthy, except for your lack of patience.