People can’t do something themselves, they wanna tell you you can’t do it. If you want something, go get it. Period. – Chris Gardner
We accept the love we think we deserve, and for the most part, it goes the same for our financial status. Most of us are brought up accepting of a 9~5 job with a pay just enough to get by. We think of the rich as someone impossible, someone far away, someone with the luck you’ll never have. And that by its own, is your first step to failure and why you’ll never be rich.
Rich people aren’t different in any way. They have eyes, ears, nose, mouth like the rest of us, and if you’ve been around the block enough or have read enough of our Inspirational Stories, you’ll know that some of the richest people in the world were self-made and was once just trying to get by like you and I.
We weren’t born different from them nor do they have any more time than we do. We were all given 24 hours a day and the primary difference is what you do with the cards that you were dealt with.
So exactly how do one be rich?
It’s one of the most commonly asked question and it actually really only rounds down to 4 simple steps.
1) Having the right mindset
Having the right mentality supersedes everything! Cause nothing can ever happen if you don’t truly believe that you are worthy. That you have it within you to strive, to be better than the median. That your current plight do not dictate your future. You must want to succeed and from the very bottom of your heart truly believe it. Yes, we know you have a friend who was born with a silver spoon and that he has an arguably easier time getting there, but if you don’t truly believe that it is in fact a level playing field and that you can break out of the income group you were socially assigned to, nobody can help you.
First you got to believe, then you got to be relentless in trying to get there.
Read more about success stories and other articles to help you cultivate the right mentality here
2) Saving up
If someone tells you you can get really rich with zero dollars, they’re probably lying. At the end of it, what you want is for your money to work for you so you never have to work again. To do that, you will need some to start with regardless. So save up and save up hard! Not for retirement or your pricey watch or Hermes bag or even worse, a liability such as a car. Save up so you will have the capacity to do something about it when an opportunity presents itself. As the old saving goes: better to have it and not need it then to want it and not have it. Save up by budgeting your allowance/pay and stick to it! Our Free Financial Calculator Singapore would be a good guide for you to start with.
Learn about the art of saving up with our articles on saving up.
3) Financial protection
You have finally saved 3k and is rearing to go! But before you start putting all your money into the stock market, forex etc. I usually recommend my friends and family to get yourself financially protected first. The beauty about financial planning is you literally can plan for almost anything. If you know you have a year end vacation, budget it in months before and save up for it. If you want to get a branded bag (which we strongly discourage at the start by the way), break it down and set aside a portion every month to get it. This model can be used for basically anything except for the unforeseeables such as injuries, death, accidents etc where we are unable to look ahead and plan. The last thing you want is to have all your cash tied to your business and in the worst case scenario when something bad happens to you, have not enough free cash to tide yourself through all the hospitalization bills etc. You would probably have to wind up your business and with it, the hours you’ve spent working.. So do get yourself protected. (*Note, im not an insurance agent nor do i sell any insurance, just a genuine belief in the need)
Read more about protecting your finances with our Financial protection related articles
4) Financial growth
Once you have all that covered, you are now finally ready to try and grow your wealth. I’m personally a Singapore Entrepreneur and that’s all for a good reason. If you look through the list of the top 100 richest people in the world, you can’t find one that’s an employee, it just doesn’t work that way.
In the context of Singapore, I’ve come to categorized the richest people I personally know and the bulk of the ultra rich often falls into 2 primary categories.
ii) Real Estate Investors
And yes of course there are a million others ways to make money and be rich but these 2 categories form the majority. Think about it, whenever someone tells you otherwise that there’s other ways to get really really rich, for the most of it, they are actually in fact trying to sell you some sort of course or product that their business is providing. There’s a reason why they are trying to sell courses/products instead of keeping their money making secrets to themselves, that’s where the real money lies, entrepreneurship and starting your own business.
Personally, I’ve always like to model myself after the rich and consult them, so even if at the end of it, even if I’m only 10% as successful as the ultra rich, i would still have 10% of their wealth that they do, which still is a lot of money.
And for those looking to take it to the next step and already have a business idea in mind, we offer our Digital marketing services such as Web designer, SEO services, Social Media Marketing etc to help put you in the best possible position to succeed.
Alternatively, look through our newly launched start-up partnership program for those starting a business to see how you can get a website absolutely FREE!