Many people like to think of luck when it comes to getting rich. They believe that it is something that just happens by chance. They do not realize that it takes a lot of hard work, perseverance, and determination to accumulate and increases your chances of wealth, and that it will not just happen by accident. This is the cold hard truth on how to become wealthy in 5 years.
We need to face the fact that the chances of our happiness and wealth does not just appear. We have to be willing to make sacrifices for our happiness and to work hard for it. Successful people take responsibility for their decisions and actions and work to achieve their goals. They also set realistic goals and work hard to achieve them. They do not blame luck or bad circumstances for the choices they make and the goals they pursue.
1. Live within your means and pay off your highest interest loan
If you are not saving at least 20% of your income, then you are significantly reducing your chances of becoming wealthy in your lifetime. And this 20% of your income needs to pay yourself in terms of 3 key things — high interest or credit card loans, insurance coverage and emergency funds. Learn to learn within your means and understand that stuff does not make you happy, experiences do. Every dollar saved help to build your foundation and increases your chances of becoming wealthy. This is one way to get rich from nothing, as you adjust your expectations and save more from your current situation.
2. Invest your money to work hard for you
What does it take to become wealthy? According to surveys, it takes more than just paying your bills and saving money for the future. It also requires working hard to save as much money as you can, building credit lines, saving up for a down payment on a house, getting rid of outstanding debt, among other things. But most importantly, it takes an awareness of how to become wealthy and knowing what things to invest in to gain the highest return.
Thankfully, one of the easiest ways today is to automate your investments by allowing robo-advisors to manage your monthly savings for long term returns.
3. Start a business or a side hustle that create cashflow or even passive income over long term
One of the fastest ways to create substantial wealth is to carve your own niche market and create products or services that solve a problem and provide lots of value to your customers. Starting a business and become an expert is not without risk, but with a sound plan and long-term thinking, you are on your way to bulletproof wealth for yourself.
One of the ways you can start multiple streams of income is by getting involved in affiliate marketing. There are many people making a lot of money online with affiliate marketing and many of them have multiple streams of income coming in. In order to get wealthy, by getting involved in multiple streams of income, you must be disciplined enough to work for it initially to build your customer list and momentum.
4. Reprogram your mind
There is no magic formula for becoming wealthy, but there is a certain amount of ability that you can develop in order to harness that power. You can become wealthy by working hard and making smart choices and wise investments, or you can become wealthy by using certain techniques which enable you to access wealth from the universe.
The truth is that nobody can predict their future or exactly what will happen in their lives, so it’s best not to try to guess. What we do know is that if you harness the wealth-creating power of the mind, you can manifest wealth in many different ways. Some wealthy people have said that they made thousands of dollars in their first week of business, simply by reprogram your mind to think wealthy.
Reprogramming the mind is an incredibly powerful wealth manifestation process, and there are many people who have actually become wealthy with this process. It takes at least 30 days to change your thought processes so that you can begin to attract exactly the type of wealth you’re looking for. By changing the way, you think and speak about money and investing, you can begin to get wealthy, but it takes time and requires persistence.
By spending one hour per day listening to this wealth guided meditation, you can begin to reprogram your mind so that you can attract more wealth and make more money. This means that you will never lack money, because you will always have more than you could possibly spend. By using the power of your mind, you can change your life, and in five years you can have business success and become wealthy.
Conclusion: Think long term when making your life decisions
It takes discipline, but if you take action every single day, even if it’s a half hour, you can start to see long-term results. When I say “taking action,” I mean that from the moment you wake up until you go to bed each night. You need to build a lifestyle of focusing your energy on building wealth. If you do that consistently, over time, you will reach a point where you can look back and say that you have achieved some measure of long-term wealth creation success.
Related: 12 Traits of Millionaires to Start Making Serious Money and Building an Empire