Wealth is made with 4 key ingredients

4 Ingredients for a Wealthy Life

wealth

Major keys to becoming wealthy

Financial security is often the first thing people think about then the word wealth starts to get thrown around. The ability of providing for your family & yourself, all the needs and wants that may rise is fulfilling. Wealth comes with some serious benefits that can't be ignored but those benefits certainly don't include guaranteed happiness. The terms riches and wealth are also open for self interpretation. What one person considers enough money to be wealthy may be astronomically higher then what another person may find adequate wealth. Fortunately no matter what you may find as the defining line for wealth, the rules for acquiring and maintaining wealth are the same.

Income streams

Whether Real estate investing, Stock Dividends or owning a small business, there are hundreds of ways to create multiple streams of income. Having multiple streams of income in todays economy is almost a necessity. Its needed for retirement planning, child care, education and as mentioned before financial security. All wealthy individuals in America have a number of common denominator but the must common among all of them is multiple streams of income. Its not possible to gain financial wealth with only one stream of income."Don't place all your eggs in one basket."

Training Education

Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime. Its understood among certain groups that if you take all the money from a financial wealthy man within a reasonable amount of time he will be able to gain it all back. The reason for this is due to the mindset of the wealthy. Wealthy people don't think like the typical individual. They don't spend like the typical person and this is what separates them.The wealthy don't spend money collecting liabilities and depreciating assets that eat away at their income, assets and resources. The wealthy however are consistently spending time and money better their education. They better that education in the form of college/universities, seminars, conferences, book, podcast, and the many of platforms to gain intellectual gain."I know one thing: That I know nothing"

Hard work

I'd like to offer a quick story to explain the two remaining key ingredients.A young man decides to quit high school and pursue a career doing whatever hobby he may have an interest in at the time. Because this young man is not skilled enough in the basics of business, finance and economic he is likely to be forced to get a job before his hobby can be monetized. Statistic predict this young man will spend majority of his life struggling to maintain at a poverty level. Its safe to say, this is a hard, grueling and taxing life to live.Another man continues his education throughout high school and into college. While faced with hard work and obstacles throughout his schooling career this young man perseveres. Once this young man enters into the work force and calls forth his quality morals and character instilled in him by family, combined with education he succeeded and raises in his career endeavors. Because he raises in career his hard work then become less and less grueling and taxing. It then turns into work formulated on Working Smart and not hard.The moral of the story is, choosing a life of poverty or choosing a life focused on financial gain both require grueling and taxing hard work. Although the grueling nature of an impoverished life calls for far more hard work then that of financial gain."Laugh now cry later, cry now laugh later"

Wise Planning

Their are many individuals who have chosen the path of the second young man mentioned in the story above. Unfortunately they story above is just that, a story. That story does not and could not possibly represent everyone who has chosen the second path. There are many obstacles that could alter the entire story; ranging from social, financial, emotional and most popularly financial hardships.The most important thing that is not mentioned in the story and often forgotten in many of our stories. "There is nothing new under the sun". No matter which hardship you are faced with, their has been an individual who as been faced with the same. The Earth has been home to a countless number of souls, souls that have offered solutions and remedies to issues and problems as deep as the mind can imagine. When faced with issues and problems that seem like they have no answer the best course of action is to request, research and repeat a solution that has already been rendered.The 1 percent didn't become wealthy trading time for money, and neither will you. It's tolerable for a start, but at some point, you have to intensely focus on scaling and leverage. Wise planning will entail duplicating a process that is locked solid and works. Lastly, your wise plan must have the right team capable of implementing all components. This team will need to operate seamlessly and without strenuous maintenance.