Possessing wealth gives the holder the means to live life on one’s terms. The answer to financial problems lies in how you see your paradigm and your being able and willing to change it internally. If you believe in this approach, read ahead and change your life forever.

Here are the golden rules.

1. Create asset creating goals

An asset is something that generates cash flow. Most of us are focused on income goals and not asset goals. If asset goals are set, one need not work for a living, which is the fundamental difference. One can evolve gradually to a purpose and create a higher impact.

2. Invest in yourself

COVID has seen many people upgrade their skills and rediscover a higher calling. It can be in lateral skills in one’s existing profession or converting a hobby into a vocation. A sign of when to transition is when there is acceptance in the core audience.

Being rich is when you have money. Being wealthy is when you have time. If you are a professional working in a corporation or self-employed, you need to identify key skills that help in growing income and automate the rest.

Also, one can look at upgrading key skills daily. Over a period of time, one becomes an authority in the line of one’s calling.

Also read: Register for online courses to upgrade your business knowledge & expertise

3. Create passive income

Being rich is when you have money. Being wealthy is when you have time. The key thing is to build a business like a business and run it based on guidelines relevant to that activity. The idea is to understand how to replicate things something consistently quarterly. This can free up your time to focus on activities that can deliver a 10x impact over the long term.

Suppose you are a professional working in a corporation or self-employed. In that case, you need to identify the key skills that help grow income and automate the rest, as additional help may not be available at least in the near term.

4. Identify the missing factor

Many times we experience a sense of emptiness in the daily grind of our lives. It exists because we are not able to keep a balance between

T - Time

E - Energy

R - Relationships

M - Money

Any gap in an area can create a wealth leakage. How?

If time is not properly focused on key issues, value is lost in the process.

If energy is lost, one is not able to enjoy wealth.

If relationships are hurt, one is not at peace.

If money is a shortage, the world does not feel a great place to be in.

Therefore, a quarterly personal assessment is important to keep life on track.

5. Create a compelling vision

It is important to create a compelling vision for the future. Cycles come and go, as long as we have a vision and a dream, life becomes worth cherishing. Remove the shackles within to be free and work towards becoming wealthy. If you are already there, then it is like maintaining good health. Stay healthy.

Convert your potential into reality.

Also read: A roadmap to ease your financial worries in this crisis starting this minute

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