We think that building wealth is about acquiring competency, putting in effort and harvesting the gains.
We all want the X% returns over time to build from $0 to $1 million.
But there is a factor that often turns out to be the toughest to overcome: Yourself
That’s right, how you feel and how you behave.
As human being we are not robots. We often do not do the right things because we feel we get afraid.
Our minds play trick on us. We get influenced by our surroundings and people.
This section delves into the motivation to build wealth, but also the psychological aspects of wealth building that makes us lose money, or stop us from reaching our full potential.
Acquiring the Knowledge & Wisdom needed to Build Wealth – A Framework
One of the key pillars of successful Wealth Building is Knowledge and Wisdom.
You need to build up competency in building wealth. How do you go about doing that. In this write up, I share with you a framework to go about acquiring facts, building up data and testing them in real life to gain the wisdom needed to build wealth wisely.
Make a decision to build wealth
Sometimes we try to motivate our friends and family members to build wealth, or get out of debt and we failed miserably.
Why? They have no motivation.
Motivation is an important ingredient to doing something difficult.
In this article we talk about how serious will you motivation be to build wealth and 2 case studies that I encounter along the way.
My Understanding of Risk and Volatility