THIS POST MAY CONTAIN AFFILIATE LINKS. PLEASE SEE MY DISCLOSURES FOR MORE INFORMATION
Have you ever said to yourself, “I want to be rich and successful”?
Although a lot of people have a dream to become rich thanks to some lucky numbers on a lottery ticket, to become successfully rich on your own terms has far greater rewards.
Not only will you have the satisfaction of a job well done, but you will most likely be rich for the long term.
So how do you find success so that you can start becoming rich?
There are 13 key things you need to develop if you want to learn how to become successful and rich.
In this post, I will list them for you so that you can start your journey of success and building wealth.
13 Things Needed To Become Successfully Rich
You need to have determination to succeed.
You can’t let obstacles prevent you from achieving your objectives. Goals can be easily set, but it will take your own efforts to make sure that each one can be realized.
While there may be things that prevent you from achieving your dreams, it will be your own resolve that will dictate whether you ultimately succeed or fail.
And when I say fail, I mean fail overall.
You will experience setbacks along the way.
The key is to understand they are a part of life and you need to push through the failures.
Figure out why things went wrong, make adjustments and move on.
A lack of motivation is what prevents many people from realizing their dreams.
For whatever reason, these people feel that the task is too great or too complicated.
In order to become successfully rich, you need to find what motivates you to continue and keep your focus on the objective.
The key here is getting specific.
When I say ‘I want to retire early’, that is good, but it’s too general. It’s too easy to get off track.
But if I say, ‘I want to retire early so I can spend my afternoons with my grand kids playing and writing my novel’, that is specific and gives me something to latch onto and motivates me to reach my goals.
So be sure to take the time to get specific and clear so you will remain motivated for the long term.
Here are some great questions to ask yourself to help you get detailed on what you want out of life.
- What are your 5 most important values in life?
- What have you always wanted to do, but were afraid to try?
- What do you most enjoy doing – more than anything else?
- What do you want to experience in your life if time and money weren’t an issue?
- What makes you the most happy?
- What inspires you?
- What does a successful life look like to you?
Being tenacious can be a good trait, as long as you’re not overly pushy.
This goes hand in hand with determination as it can help drive your success.
In most cases, you’ll need to be persistent in order to be successful.
Always remember that the squeaky wheel gets the oil.
Just go about asking in a friendly, conversational tone and not a direct, questioning tone.
You will find more people will be open to helping you when you are nice rather than mean or direct.
#4. Set Clear And Realistic Goals
When you set goals, be realistic and detailed.
Anyone can say they want a million dollars by the end of the year, but few will achieve that goal without a detailed plan.
Setting realistic goals can help build confidence and motivation to continue towards the greater objective.
When it comes to financial goals, it helps to use a financial calculator so that you can set realistic goals.
Once you have your goals, make sure you write them down and you have them out so you can see them and track them.
If you write them down but then put them away in a drawer, you will forget about them.
Trust me, I know from first-hand experience!
You have to see your goals or have a visual reminder of them on a regular basis in order to see them through.
Another tip with goals is to use affirmations. Specifically, money affirmations.
By reciting positive affirmations, you put yourself in the right mindset to achieve your goals and build your wealth.
Here are 50 great money affirmations for you to get started.
#5. Have A Strong Work Ethic
Look at most wealthy people who made their wealth and didn’t inherit it and you will find they have a strong work ethic.
They grind out the work that needs to get done to achieve their goals.
This could mean working at nights or weekends, taking shorter lunch breaks, and more.
On order to become rich, you need to develop a strong work ethic and not make excuses.
Sure it would be great to just veg out on the couch all day, but that won’t get you to where you want to be.
Don’t confuse work ethic with working hard.
Yes, becoming rich and successful is hard work.
But you need to work smart too.
Outsource things that aren’t worth your time and focus on the tasks you need to do that will provide results.
#6. Develop Rich Habits
What do I mean by rich habits?
These are habits that make you a better person and push you forward towards achieving your goals in life.
For example, reading books, educating yourself, budgeting your money, calculating your net worth, and networking are all examples of rich habits.
Binge watching television, spending hours on social media or playing video games are not rich habits.
Look at the vast majority of rich people and you will see they are constantly working to improve themselves.
Look at poor people and you will see very little being done to improve themselves.
Step outside your comfort zone and start building habits around things that will make you better every day.
Speaking of networking, let’s look at this one more deeply.
In today’s world, networking on social hubs such as Twitter, Facebook and LinkedIn can help you professionally.
Getting the attention of others that can help you may not be as difficult as it was years ago.
The internet can be advantageous for those looking for assistance.
If you can get the attention of the right people, many opportunities can present themselves to help you.
To network effectively, reach out to and stay in contact with your friends and colleagues.
When you talk to them, try to find another connection you have that may be able to help them and make an introduction.
After a while, your network will start doing the same for you.
And don’t be scared to get this ball rolling either by asking your network.
You never know who they may know.
Successful people are excellent at troubleshooting.
Troubleshooting is used to solve a variety of problems in any aspect of life.
If something isn’t working, figure out what needs to be changed in order to be more conducive to your objectives.
While some of these changes may be difficult, keep focused on the end result and what you can do once you reach the primary goal.
In the beginning, troubleshooting may be tough. You might spin your wheels a bit.
But as you troubleshoot more and more, you will pick up tips and tricks.
This will help you to troubleshoot more effectively in the future.
And being more effective will allow you to save time in the long run.
#9. Invest Your Money
If you want to be rich, you need to save money and invest it.
By investing your money, it compounds and grows into larger amounts over time.
Don’t think you need to invest mutual funds here.
While some think that to become a successful person you need the stock market, the truth is you can invest in a lot things.
For example, real estate or art are ways to invest.
The key is to find an investment that matches your risk profile with the return you need to achieve.
#10. Create Multiple Streams Of Income
Most people will not become rich simply by working their day job.
This is where having extra income streams helps.
By earning extra money from a side hustle or two, you can save and invest more money every month.
And as this money compounds over time, it will grow into a lot of money.
To make this work, you need to find things you enjoy doing and see if you can earn an income from them.
I started doing this with blogging.
I enjoyed it and turned it into a second income stream.
I was making $10,000 on the side and after paying taxes, I was saving everything I earned.
After a few short years, my net worth grew substantially and is still growing as a result.
Now it is my own business and I love every day going to work as I get to do something I enjoy.
#11. Stay Out Of Debt
When you are in debt, you are not building your own wealth but the wealth of others.
I know it can be frustrating to focus your energy on paying off credit cards and paying down student loans.
But the sooner you get rid of these debts, the sooner you can save and invest the most money possible, which will grow your wealth faster.
#12. Be Realistic When Defining Wealth
When you think of a typical rich person, you think they live lavish lifestyles.
While the richest people in the world do live extravagant lifestyles, most rich people live life like most other people.
This was highlighted in the book The Millionaire Next Door.
They typical millionaire lives in a modest house, drives an older car and has a standard career.
The point in this is to make sure you define what wealth really means.
To most people, it ultimately means freedom.
The freedom to work if you want to, not because you have to.
#13. Have Patience
Don’t fall for those get rich-quick schemes.
You need to be patient and continue working on achieving your goals.
For the most part, financial success and success in general isn’t going to be created overnight.
You may have to wait several months or several years, but the rewards may be greater than anything you could imagine.
I know in today’s society, we want everything this very instant.
But this usually never is good.
You either cut corners and don’t do as good of a job, shortchanging yourself, or you never really value what you have.
Just look at lottery winners.
They win a fortune in an instant and most end up broke shortly thereafter.
Why is this?
They never worked hard for the money so when they received the windfall, they didn’t value it.
Same can be said for many inheritances as well.
It takes a great deal of work and dedication to become successfully rich.
Instead of focusing on a way to have an instant boost in income, center yourself more on what you can do today to improve your financial standings.
There is far more stability when you work for a financial objective as opposed to winning some lottery.
It will give you greater insight into how to keep your money instead of blowing it all.
And the result will be lifelong success and wealth.
2 thoughts on “13 Things You Need To Become Successfully Rich”
Great list! In my case motivation and networking were the two that took care of all the others. My motivation was winning, I’m highly competitive and getting to the top of my company was my measure off success. That’s probably a terrible goal for most people but it fit me and in my early retirement I feel great about my former career and even better about my interesting side gigs/retirement career.
We can all look back and see where we had a idea or thought and did not act on it.. I told my husband so many times ” that business is going to make it”. I never once took money and put it into their stocks. That comes from lack of self assurance. Fear that you are not right. Parents teach your children that their “gut feeling” is right 90% of the time. I was not taught to truely believe in myself. Money is made from ideas and acting on them.
Comments are closed.