The goal of every individual is to maximize their chances of retiring into wealth and abundance. Building a successful financial future at an early stage of life is a prerequisite to seeing this dream become reality.
Everyone aspires to live in comfort and satisfaction; to be able to afford the luxuries of life and enjoy the outcome of hard work and ultimately steer clear of lack and insufficiency.
To achieve this, sacrifices must be made and most of which will definitely be uncomfortable at preliminary stage. But one who begins early enough has a higher percentage chance of retiring into comfort than one who is more preoccupied in short term gratification rather than long term fulfillment.
It is never too late or too early to start planning a successful financial future, all it requires is a step at a time. Eventually, little steps become big steps.
The following tips will get you started in building a successful financial future.
1 . Develop your mind and expand your imagination:
To build a successful financial future, you must do away with thoughts of lack, inadequacies and fear of poverty.
A successful reality is highly dependent on the quality of your imagination. You must learn to think big and think huge. It is your duty to aspire and aim high in life.
Never believe your abilities are too small or limited, learn to step out of your comfort zone and have faith in your skills. Paint a mental picture of what you want out of life and maintain this image until your start seeing it unravel bit by bit.
2 . Set actionable goals:
A successful financial future is highly dependent on your ability to set up priorities.
Most people wake up in the morning and hope their dreams will miraculously land on their feet. To a large extent, it doesn’t happen that way.
In reality, life doesn’t hand over anything to anyone who doesn’t make a demand or claim. If you want to be successful in any facet of life or to build a successful financial future, there is a great deal of need to set up goals.
Write down a long term vision plan on how you’d want your financial future to turn out; State the amount of money you want to actualise by the time you arrive there.
The core advantage of setting and sticking to a goal is that it helps prioritise and streamline your focus. It chooses the kinds of things that gains access to you and even determines the kind of friends you keep.
3 . Cultivate the habit of saving
The earlier you start making some savings, the higher your chances of retiring to a successful financial future.
Open a separate account where you deposit a percentage of your income regularly. Avoid the habit of being a spendthrift and desist from incurring unnecessary liabilities and expenses.
You must be willing to make short term sacrifices to acquire long term satisfaction.
4 . Invest in a start-up
Although this is subjective to the extent of your financial dreams, and obviously not everyone have the knack to become an entrepreneur. But if you deem to recline to a life of financial freedom and build a successful financial future, being an employee for the most of your life won’t pull it.
It doesn’t matter how high you’re being paid at your job, your salary will definitely incur a lifestyle that’s proportional to your income. Simply put, the higher your salary, the higher your expenses.
Thomas J Stanley’s book titled “The Millionaire Next Door” contains a very detailed and elaborate statistical research that shows high income earners are very likely to become UAW (Under accumulator of wealth). His research also shows a larger percentage of that sect are most likely to be high income employees.
Now, am not in any way implying you should quit your job tomorrow morning and go down the street and begin some dead end business. In a nutshell, it’s really not ideal to place your financial future on something so ephemera and unsteady as a job.
While you may want to continue with your job and be assured of a regular paycheque, it’s advisable to have a side business of your own. You can’t rule out the factor of risk, but nothing great can be achieved from the place of comfort.
5 . Mingle with the right crowd
This boils down to setting your priorities and developing your mind in positive thinking.Your thoughts will attract people who share the same philosophy of life as you. Either you like it or not.
Nonetheless, to become successful, hang out with successful people. Mingle with individuals who have more experience than you and share like visions.
Avoid negative and pessimistic individuals who think low and appear to be skilled in pointing out reasons why a plan won’t work.You’re a sum total of the average number of people you spend your time with. Choose wisely.
6 . Expand your knowledge; seek information
If Ellon Musk, Warren Buffet and Bill Gates can squeeze up a minimum of 2 hours daily to read, what’s your excuse?
A successful financial future can only be accelerated by the quality of information you possess. You must create significant time every day/weekly to feed your mind and source for new insight and knowledge.
I personally would recommend to anyone who aspires to for financial freedom to begin by reading these books.
“Why A students work for C students, and B students work for Government” – By Robert Kiyosaki.
” The Millionaire Next Door” by Thomas J. Stanley.
” The Laws Of Success” by Napoleon Hill.
These books are great resource to prepare you towards your financial dreams.