Tweet

Improve Your Financial Future - Start Thinking Like a Rich Person

Guest post by: Scott Ewart

Article Overview: Improving your financial future and working to become rich starts with changing your mindset. Retraining the way you think so you will be better informed to make better decisions that will help make you rich. This article describes some methods you can implore to start thinking differently than you do today.

Improve Your Financial Future - Start Thinking Like a Rich Person

Most of us have grown up thinking that it was hard to get rich, and that we will have to spend our lives working harder and harder if we want to even come close to wealth in our retirement. So how is that going for you? Well, it was not going well for me until I learned that I had to start thinking differently if I was even going to come close to becoming rich. Fear of the unknown is what keeps most people back in life. Changing the way we think takes time, takes retraining of our thoughts and lots of practice. Most of our habits, particularly around finances, keep us from getting rich whether we realize it or not. Our habits and a lifetime of wiring in our brains have us resisting the thought that there could be a better way to make and manage money.

In the book Rich Dad, Poor Dad by Robert Kiyosaki, he spends time explaining the different mind sets between the rich and the poor and middle class. Not that one is wrong or right over the other, just that they are different ways of thinking. Different realities. Forming a different mindset takes time. It takes knowledge, experience, success, and failure.

You also might think it is not OK to want to be rich - that it sounds greedy or self-serving. Struggling with this is normal, but just think: If you become rich enough to provide enough cashflow and assets for yourself and your family for a lifetime, the fear of struggling to make ends meet and preparing for retirement savings go away. That struggle is real for you, and how big the fear might be relevant to someone else's struggles is irrelevant - It is important enough for you as an individual to remove that fear by becoming rich.

Improving your financial future and working to become rich starts with changing your mindset - retraining the way you think so you will be better informed to make better decisions that will help make you rich.

Related Articles
  Getting Online Business Education To Succeed
  Article #2 Fed Up With Not Being Rich?
  Wealth Creating System Step 1 – How to Think and Grow Rich
  Why We Want You to Be Rich
  Are You Planning To Be A Rich Dad Or Poor Dad? Welcome To The New Economy updated

Article Tags: assets, brains, cashflow, changing your mindset, dad poor, decisions, different ways, experience success, fear of the unknown, financial future, lifetime, middle class, money, preparing for retirement, realities, retirement savings, rich dad poor dad, struggle, success and failure
Referred by: http://jaykubassek.com



Related Forum Posts
Future Financial Corporation - I've never heard of Future Financial Corporation is this a new company?
Re: How To Be Rich - [quote="TheRainmaker":tst8wsa8]Sounds great. What exactly have you found to be eye opening??[/quote:tst8wsa8] The first eye opener was measuring wealth by your total assets 1 Million - 2 Million Pounds The Comfortable Poor 2 Million - 5 Million Pounds The Comfortably Off 5 Million - 15 Million Pounds The Comfortably wealthy 15 Million - 40 Million Pounds The Lesser Rich 40 Million - 75 Million Pounds The Comfortably Rich 75 Million - 100 Million Pounds The Rich 100 Million - 200 Million Pounds The Seriously Rich 200 Million - 400 Million Pounds The Truly Rich 400 Million - 999 Million Pounds The Filthy Rich Over 999 Million Pounds The Super Rich
How to valuate a business - Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out: How Northern Crown Capital Valuates a Business 2008 Financial Projections Earnings Before Tax $5,865,000 Tax Rate 42% Taxes $2,463,300 Net Earnings $3,401,700 Amount Seeking to Raise Today $3,500,000 Discounted Value of Future Opportunity, 5 Years Out 2008 P/E Ratio 15 Value of Company in 2008 $51,025,500 Discount Rate Applied 30% Year 2008 $51,025,500 Year 2007 $35,717,850 Year 2006 $25,002,495 Year 2005 $17,501,747 Year 2004 $12,251,223 Value of Company at Investment in 2003 $12,251,223 Less: Investment Amount $3,500,000 Present Value $8,751,223 Discount for Risk & Private Company 40% Less: Discount for Risk & Private Company $3,500,489 Private Company Value $5,250,734 Present Value (What the Owner Keeps) $5,250,734 60.00% Financing (What the Investor Gets) $3,500,000 40.00% Total $8,750,734 100.00% I hope this helps!
Respect?!? - Hi there, A successful business depends on ongoing series of transactions. This inlvolves people. To what extend is respect important? When one thinks of himself alone, like me, me and me, how can respect become real? How many types of respect can we come up with? I think of a few: Respect of disagreement can be one. Then there is Respect of the Customer. Respect of position. Respect of 'Older Person'. By the same token, Respect of the 'Younger ones'. etc..... Has anybody got any other ideas on this subject. Kindest Regards Beat "Unlock People's Potentials!"
Re: What I Enjoyed Reading This Week - Oct 14 - I really enjoyed the Improve your vision with an app article in the New Scientist. I don't wear glasses and think a lot of people cripple their vision by wearing specs from an early age instead of exercising their eyes... Nice to see someone has developed an ap that will help.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Do You Deserve To Be Happy and Successful?

Igniting Your Unstoppable Business Destiny

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.