Friday, February 24, 2012

What is Real Wealth - Your Road to Financial Freedom

Wealth is a funny word. The word means something different for everyone. No two individuals will give you the same answer when asked for their definition of wealth.

In reality, wealth is a destination. It is usually defined as something you don't yet have but really want to have. Perhaps a new car, boat, yacht, etc. Maybe it means to be able to travel here, there and everywhere. Everyone wants something different.

What is Your Definition of Wealth

To define what your definition of wealth is, you must first ask yourself what it is that you really really want that you do not have today.

For some people it may mean to be debt free for the first time in their lives. For others, it may mean having x number of dollars in a bank account or in investments. For others it may mean to have a certain level of income in order to buy whatever they want.

The point here is that your definition of wealth will be unique. Even people that we may consider already wealthy may not feel wealthy themselves.It depends on your starting point on the road to financial freedom.
Everyone will be entering this road at a different point and their destinations will all be different. Some will want to go further than others.

How do you Know When you are Wealthy 

The easiest way to tell if you are wealthy is to look back at where you started from. If you have more money than you used to or if your income is higher than it used to be, then you are already wealthy to someone starting where you did. You may, however, not feel wealthy in your own eyes. That will depend on what your vision of your final destination is.

Travel the Road to Wealth

To achieve the things you want in life, the easiest way is to set incremental goals for yourself. In this way, you can focus on one goal at a time and achieve one goal (or step) at a time. You will then be able to determine where on your road to wealth you really are at any given point in time.

By dividing your journey into goals (or steps) you will also find it less discouraging and easier to focus. Many people give up their journey to building wealth because they focus too much on their final destination and not their incremental goals. They become discouraged because the distance is too far.

By taking it one step at a time, you will eventually reach your final destination. Focus on each step. Enjoy each step. Look back once in a while to see how far you have come.

Wealth is truly a funny word. However, once you start feeling it, living it, there is truly no better feeling. The feeling of achieving your goals (or steps).

As always, I welcome your comments and suggestions for future topics.


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