Why Wealth Requires Strategic Planning?

Summary:

• Recall that accumulating wealth is a process that often is mechanical, dull and boring.

• Action is necessary to realize financial goals.

• There are no short cuts to wealth; we must work smart, and broaden our knowledge of finance.

Bonus: At the end of the article we will discuss six qualities to become a true leader. Remember that in order to become successful at business and investing we must be way above average from the rest of the entrepreneurs and investors.

The average Joes and Janes of the world remain after excluding those who were born into wealth and those who won the lottery. Now, some of these regular Joes and Janes work 9 to 5 jobs to make ends meet, while others have succeeded financially and are leading the lives they want. What did they do? Most likely through a number of investments, which might have been in real estate, the stock market, their own company idea, someone else's business, or anything else. Did this occur all at once? Very unlikely.

Let's make a comparison to something that most of us have experienced: the desire to shed a few pounds. Losing weight naturally is a process that requires dedication and work. We don't simply go to sleep and wake up looking trim and toned. Rather, we work out on a regular basis. We alter our eating habits. We then gradually begin to see the fruits of our labor.

The same is true with investing. Unfortunately, there isn't a magic method for being wealthy fast. We just can't go to sleep one night and wake up rich the next day. These techniques rarely work in the long run, despite what we may have been told.

When starting our money journey, have the following advice in mind.

Saving is a fraud

Yes, exactly. If we know someone who is financially independent, it is unlikely that they saved their money. Because we know that money is no longer real money. Savers a re losers because if they are only saying the money without an investing plan for that money then the money will constantly lose value for them without multiplying itself like it is done for true wealth. Great debtors are winners in today’s economy that is run and powered through debt.

Today money is created with debt. Money is debt and a full currency. We must understand that true wealth is build with debt. Money is an idea backed up by confidence. Some of the reasons to use debt (OPM “other people’s money”) instead of only our own capital to invest is because it give us tax free wealth as all debt is tax-free and it provides us with leverage which is essential to reach infinite return on investment.

While we were looking for financial guidance, we might have heard the following bad and obsolete money advice:

• "Save money!"

• "Invest in a 401(k)!"

• "Live within or below their means!"

At best, this counsel is annoying (and blatantly deceptive).

For the simple reason that they have been told to, many people just sit back and let others handle their finances. We can't sit back and wait for things to change these days.

We have to be doing something. We have to take action!

Change our way of thinking first. Consider, for instance, "Where can we get a better return on my money?" if the person is only receiving 1% interest on our savings.Begin to ask the appropriate question to get our minds working towards obtaining the correct answers.

The true value is found in who we become as a result of all the experience, learning, and errors we make along the way. Consider any opportunity to improve our financial literacy as future financial gain.

A journey is what investing is for the wealthy

As we become inside investors, we gain financial knowledge. Through some practical experience, we learn things that we otherwise wouldn't be able to. We make errors and grow from them. As we gain more experience, we continue to make mistakes. Our abilities, knowledge, and confidence all increase during this process—not to mention that our bank accounts do as well. Pursuing our investing strategy is similar to life in many respects: it's a journey with highs and lows, happiness and sadness. Ultimately, it's always a worthwhile adventure.

The reward is the journey

Even more significant than the final objective is the journey we take. That's the secret.

The true value is found in who we become as a result of all the experience, learning, and errors we make along the way. Consider any opportunity to improve our financial literacy as future financial gain.

The journey is the reward and the road is worth it because of that payoff.

Take charge of our own financial future

The next piece of advice is to not let anyone else perform this work for us.

We must become an active investor which is critical to be reach the highest level as an investor which is a capitalist or an inside investor or master investor.

The opinions of friends, magazines, and the most recent rumors on TV are relied upon by far too many people. We measure our return on investment (ROI) with facts not opinions.

We must put in the effort ourselves if we wish to learn the truth about money, success, or anything else in life. Nobody will complete it for us.

Yes, it could seem simpler to follow the crowd, ask your sister, best friend, or other trusted person for guidance, or simply listen to a "credible" financial counselor on TV. All of us are occupied with our jobs, caring for our loved ones, cooking, cleaning, bills, and other tasks.

However, we lose control if we allow someone else to make important decisions for us.

This indicates that employees and self employed people have little idea what's happening with their finances.

Will the employees be able to pay their bad debts with their next check?

Do their 401(k) and IRA (fake assets because they do not put any money into the investor’s pocket today and may never put any in the future neither) actually aid in their retirement planning?

What occurs if they become ill and are unable to work?

Do they not already have enough stress in their life? This is a tough situation.

It requires more smart work not necessarily physically hard word, but in today's environment, having a solid understanding of finance is essential for both survival and success.

Gain more knowledge to take charge and lessen our stress. Eliminate the justifications citing a lack of funds, time, intelligence, etc. We just need to start with these easy steps:

• Think critically about what we see and hear in the media, what our "financial advisors" tell us, and the rumors that are going around in our community. Investigate their claims to see if they are accurate and whether they have any ulterior motives.

• Learn about what is actually happening in the world by reading media that we have never looked at before. For instance, look at the news and financial publications such as The Wall Street Journal, masterinvestor, The Economist, Bloomberg News, BusinessWeek, The Week, Bert Dohmen's The Wellington Letter, Drudge Report, Master Investor's financial education news section, and many more. We will be more receptive to various viewpoints, goals, data, and facts.

• Every day, set aside some time to concentrate on our financial strategy. Determine our life goals and the path to achieving them. Next, set aside time every day to carry out our plan. Nothing occurs if nothing is done.

Begin our adventure now

Today, our journey awaits us. We will make mistakes on it, and some of them will be huge. We will face difficulties. We will have moments of fear. Our character will occasionally be put to the test. But we won't develop if we avoid the challenge. We are not going to learn. We won't get anything either if we not actively invest. Managing debt is key and essential to build true wealth that is tax free.

Thus, now is the time to begin your quest. Wear your seat belts and always keep our hands inside the car. The ride will be rough, but amazing.

Recall the cash flow circle diagram. Where it shows the players of the game of money. W are all playing the game of money and we are one or more of the fur players shown in the cash flow circle:

1- Employee (left side of the Cash Flow Circle).

2- Self-employed: (left side of the Cash Flow Circle).

3- Business Owner: (right side of the Cash Flow Circle).

4- Inside Investor: (right side of the Cash Flow Circle).

The question is: Are we happy where we are currently in the Cash Flow Circle, and do we wish to learn how to thrive on the right side of the Cash Flow Circle? It is a personal decision to make as to whether we spend our time living on the left side or the right side of the Cash Flow Circle. However, true leaders, wealthy entrepreneurs and inside investors are develop on the right side of the Cash Flow Circle. We have to really want to become financially free and build true wealth to be capable of succeeding on the right side of the Cash Flow Circle.

Bonus:

As promised we now will cover today’s bonus: What are six qualities of a true leader?

Poor management results in a failed company. The first step to comprehending leadership is volunteering. To achieve financial independence, assemble the best team because we can't do it alone.

We must inspire our teams as the leaders of our organizations for our businesses to grow. Great teams follows true leaders who lead with courage, strength and leadership.

Every day, the same thing occurs in enterprises. The majority of firms fail due to poor leadership, not external circumstances.

The significance of leaders

There are many tales of outstanding leaders throughout history. Regretfully, the most of them were killed. The fact that each leader may be classified as a "terrorist" is much more intriguing.

To every racial bigot, President Kennedy was a terrorist. As a result, the Civil Rights Act of 1964 was passed soon after his passing, and the Civil Rights Movement made significant strides during his presidency.

Martin Luther King Jr., Rev.

Racial racists also considered the Reverend Martin Luther King, Jr. to be a terrorist. Some would claim that he signed his death sentence when he mentioned young black lads and white girls. He sealed his doom when he gave one of the greatest speeches in history, "I Have a Dream." An sample from his speech, which was hardly more than a string of words, is provided below. It undoubtedly alarmed bigots everywhere:

“I have a dream that one day, down in Alabama, its vicious racists, with its governor having his lips dripping with the words of interposition and nullification; one day right there in Alabama, little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers.”

Many people felt that the notion of young black boys and girls joining hands with young white boys and girls had gone too far. We are aware of the names of those individuals.

Mandela, Nelson

The last great leader died on December 6, 2013. It is almost astonishing how Nelson Mandela managed to escape murder. He didn't need to be labeled a terrorist. To anyone who supported apartheid, he referred to himself as a terrorist. His leadership is demonstrated by the fact that he brought South Africans of both races together without being killed.

Even after he was freed from prison and elected president of South Africa, many Americans still thought he was a terrorist. His name was eventually removed off the U.S. government's terrorism watch list within a short time after his release.

Nelson Mandela is considered by many to be the final great leader. But rather than causing us to lament the absence of great leaders, his death serves as a reminder to all of us that when a leader passes away, we must all rise to the occasion and dare to become better leaders ourselves.

This raises the question of whether you have a purpose that is worthy of putting our life in danger for.

Characteristics of true leaders:

1- We will do that

A leader's job is to bring out the best in people, not to be the best person. That is one of the most important leadership lessons we will ever master. Our company is in peril if we are the most intelligent member of our team.

Of course, a lot of people want to know how to become a better leader. The constant advice for all is to volunteer more.

People who genuinely want to lead are hard to find in most organizations. The majority of people simply accept being instructed what to do.

Our team gives individuals advice. Volunteer to work on initiatives at our prefer organizations. Offer to take the lead on tasks at work. Volunteer to coach sports teams in our town. However, the best step is to launch our idea into the market and build a team around our product base business to get real life experience.

In addition to gaining invaluable leadership experience, we will also make many friends who will support us in our future endeavors and personal life.

2- The key to being an effective leader

We can receive feedback on your practical leadership abilities by volunteering. We have some real-world learning and correction to do if we offer to lead and nobody follows! We must solicit input and take appropriate action.

A real leader is able to discern when to listen. Even our team has already admitted that we are simply we need a team full of people and systems that are smarter than e are. But in order to become a better leader, we depend on the counsel of our team members and advisors. We must be able to trust our team members.

Team members, that's correct.

3- Leaders put together the appropriate team

Investing and business are team sports.

A lot of people consider their financial path to be an individual undertaking. They may discuss their financial objectives with their spouse, but they generally avoid asking for assistance.

It's a serious error. Our journey will be an uphill battle all the time if we attempt to go it alone.

Because of this, we need a strong team that we can rely on to assist us reach our financial objectives in any financial activity we undertake, be it debt relief, business startup, asset class investment, or retirement savings.

4- Putting together our team

Experts from a wide range of fields should be on our team so they can provide us advice on how to reach our financial objectives.

An attorney, a certified public accountant (CPA) to assist with accounting and taxes, a reputable and impartial broker, a number of specialists in the business and investment fields of our choice, mentors, and coaches are some essential members of our team.

In order to stay grounded and sane, we also need a strong support network consisting of true mentors, friends, family, and even life coaches.

Making sure our team members are chosen with our best interests in mind is a crucial consideration. Make sure they are playing for us and our team, not for someone else, to put it another way.

Financial planners and counselors frequently play for the bank or mega-corporation they work for. They are more concerned with making money for themselves and their employers than they are with our objectives.

We can develop a winning strategy that works for us by assembling a group of advisors whose judgment we respect and who have an interest in our success.

6- Checking the members of our team

There are a ton of possibilities available for coaches and advisors. Many will want to advise us what to do with our money or give us advice. So how do we distinguish between sound and terrible financial advice? How do we select our team's top players?

Begin by posing the following queries:

1. Is the one giving me advice accomplishing our financial goals?

2. Does the advisor follow their own advice?

3. Is the advice free of paid endorsements, prejudices, and commercial ties?

4. Is it a sales pitch or actual financial advice?

5. Do they see this as a one-time deal or are they interested in establishing a long-term relationship?

6. Lastly, do we think this person is trustworthy? Do you have a gut feeling that they are decent, honest, and ethical? Do we think they will be honest with us?

7- Always want to improve

The key to being a successful leader? Sincerely ask ourselves how we can improve daily. We will be guided to read more books from true teachers, and invest in our personal development.

True leaders are not born leaders. Real leaders are eager to learn and aspire to be leaders.

Join our online community to learn from like-minded people, invest in our wealth education, and develop our leadership abilities. Excellent leadership traits; emulate the best.

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