One of the most common scenarios I come across is the struggle many people have to create permanent wealth. And most times it is not for lack of hard work. When I dig into the situation, I find that many of the people fit into the following:
– They spend most of their time at work.
– They go to work in hopes they can “get ahead.”
– They spend 8, 10, or even 12 hours each day working hard for money.
– They spent years in school preparing for their profession.
And yet, the bottom line is they are not ahead at all.
They may have a few dollars set aside for a rainy day, and have an investment here and there, but they aren’t creating any permanent wealth or making significant strides towards their dreams…even though they are working hard enough that they deserve to create some wealth.
Why Everyone Needs a Wealth Strategy
A wealth strategy puts you on the right path to building wealth – one that creates permanent wealth. This is the purpose of a wealth strategy – it connects the action needed today in order to achieve the desired results in the future.
Wealth creation is not solely about hard work. It’s also a matter of knowing how to make money. A wealth strategy is heavily focused on increasing your knowledge about how to make money in assets that will work for you.
Are You Taking the Right Actions?
Taking action is great, but it needs to be the right action – otherwise the results will be disappointing. The wrong action is what creates the scenario I shared at the beginning.
If you did something every day that positively impacted your wealth, how much wealth could you build in the next 30 days? In the next 60 days? In the next year?
Set aside an hour to identify the action you should take. And if you aren’t sure what action you should take, then your first action should be to develop your wealth strategy.
Focus on your wealth!
Tom Wheelwright Provision Wealth (Tom’s firm is my personal tax consultant)