Could Becoming Wealthy Really Be That Simple?

Your level of wealth is determined by the choices you make today. Thoughts determine the choices and once the choices have been made it will be reflected in the actions taken.

Table of Contents

• The Pareto Principle
• Think and Grow Rich
• Discovering This Changed My Life
• You Determine Your Level of Wealth
• The 5 Steps to Creating Wealth
• Is It Really that Simple?

The Pareto Principle

Vilfredo Pareto, a 19th Century Italian Civil Engineer, helped to develop microeconomics.  The study of how individual people and businesses use scarce resources including money in their daily lives.

He discovered that 20% of the Italian population in the late 1890s early 1900s held 80% of Italian property. 

Delving more into the data and studying what was different about the 20% he discovered it came down to the choices they made. Simply, they made the decisions that generated wealth and income.They decided their level of wealth.

The more study around money and wealth, the more it was discovered that creating wealth comes down to 80% of mindset including thoughts, choices, focus and actions and only 20% of actual skills.

Becoming wealthy is simply having the mindset of a wealthy person. 

Think and Grow Rich

Napoleon Hill says he was asked by Dale Carnegie to study the wealthiest people in America and determine why they were able to generate wealth when others couldn’t. This started a lifetime study around building wealth. 

Napoleon Hill wrote many books about creating wealth but arguably his most famous is Think and Grow Rich.  

Hill said “If you truly desire money so keenly that your desire is an obsession, you will have no difficulty in convincing yourself that you will acquire it.”  

In other words, when thoughts are focused on a specific result this influences the choices that are made.  The choices will determine the action steps put in place to get the desired results.  

Discovering This Changed My Life

Jeff Bezos, founder of Amazon and one of the richest men in the world, says “discovering this changed my life”.  

In November 2020, Bezos spoke at Princeton University about gifts and choices, telling the audience that everyone has gifts (talents) they are born with or acquire.  Choices are the hard decisions that determine the future.

He went on to say, when you are 80 years old and looking back on your life.  It will be a life filled and determined by the choices made.  Did you take the easy route or did you take the route that determined the life you wanted?

Bezos said – once he learned it wasn’t the gifts he had but rather the choices he made that determined his level of success it changed his life. 

Every day, everyone is faced with choices.  The level of wealth or the lifestyle you desire will be affected by the choices that are made.

You Determine Your Level of Wealth

You determine your level of wealth simply by the choices you make.  

When a choice is made to become wealthy, thoughts and actions are focused on achieving it.  There are different levels of wealth and within those levels are different mindsets and action steps.

T, Harv Eker, in his book, Mindset of a Millionaire, spoke about the different thought processes and choices that millionaires take to become wealthy.

When I wanted to become a millionaire I focused on the choices and action steps millionaires took and I started modeling them.  I quickly became a multi-millionaire. I thought I had everything I needed to just keep building wealth. Then I hit a plateau.

So, I went back to the drawing board and I started studying the wealthiest people, looking at billionaires and what they did and the choices they made.

I discovered they had evolved from the millionaire mindset to the billionaire mindset.  They make different choices and took different actions to millionaires.

Modeling choices and actions around the person who is now where you would like to be in the future, helps to align your mindset to achieve your desired results.

This shift in thought process from millionaire to billionaire then adjusted the choices made and the results being achieved.

The 5 Steps to Creating Wealth

 There are 5 steps to creating wealth.

• Choices – choosing your level of weatlh
• Planning – plan the pathway to get to your desired level of wealth
• Action Steps – determine the action steps necessary to get you where you want to be
• Focus – keep focused on the pathway.  Many distractions will come but once your choice is made, the plan is in place and you know what action steps to take it is easier to stay on the pathway.
• Education – get the education needed from the people who have achieved what you want and follow the steps.

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Is It Really that Simple?

When you identify the level of wealth you desire, the choices you make will determine the result.  When your choice is your key focus and your actions reinforce the choice made, then you will achieve your desired wealth.

It is up to you to decide what your level of wealth is and make the right choices.