Building a considerable amount of wealth is simple, but it’s not easy.
Simple means easy to understand, not elaborate or artificial, and not complicated.
Easy means not hard or difficult, free from discomfort, quick to master, and comfortable.
Building wealth over a lifetime is simple- all you need is discipline, diligence, emotional control, patience, the ability to reject the game of consumerism, solid middle-school math skills, and an appreciation of the power of compounding. Those things are simple, but if you look around, most people don’t have that collection of skills and are not wealthy. This is because building wealth is hard, not easy. It’s difficult to be disciplined, diligent, patient, and emotionally controlled consistently for decades. It’s hard to control spending in a culture that tells you to buy, buy, and buy some more. I know plenty of people that have a very high amount of income but are still living paycheck to paycheck.
Building real wealth obviously involves being different, because the wealthy are in the minority. In fact, wealth is relative to the surrounding economic culture, so even in a rich culture, wealthy people by definition are few. In other words, somewhere along the path to wealth, you have to stop and say, “No, I don’t like the way you’re all going about this. I’m going to try something different.”
Being different can be just plain hard. The path is yours to figure out, though I hope this site can help along the way. Here’s a general guide to get you started- your details may vary but the general principles will remain constant.
8 Steps to Build Wealth
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I think it does take some knowledge and life experience. Unfortunately, financial education is not taught well in schools or taught at all; people have to learn it for themselves. Personally I don’t need to be wealthy, but I would like to be “well off” and not tied to my job. That would be great :)
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