Want To Be Rich?

Here’s What You Need to Know…

By Charles White

We all know that obtaining the finer things in life requires having the bank account to get them. But how many of us know how to get that bank account? In this exclusive installment of Purse Strings, financial guru Charles White offers a veritable “How To” guide to get you on your way to wealth!

 The pursuit of wealth is as old as mankind itself. From the days of picking up the first shiny rock to sailing after rumored gold in distant lands, man has constantly been on the move to acquire what is called “riches”. In my business, I have seen people become very wealthy, go broke and obtain wealth again. I have found that there is not one set way to become rich, but there are some basic commonalities. There is a saying that “success leaves clues,” so if you want to pursue wealth and become rich, let’s look at some of the clues that I have found. The list is not meant to be exhaustive, but just an overview to help the regular person.

Increase your Education

The increase in education will set you apart from everyone else, no matter what field you decide in which area to become wealthy. This includes medicine, metals, agriculture, foods, real estate, aerospace, etc. Increase your learning through seminars, books, webinars, etc and make it a daily habit. Someone told me long ago, if you will study the same subject every day for one hour, you will become world class after 7 years. I believe this to be true in the pursuit of wealth. Learn to love learning something new every day and you will set yourself apart and it will give you the knowhow edge when pursuing wealth.

Master Something

Ever hear of the phrase, “Jack of all trades, master of none”? Too often people will try to become everything to every subject, but not take the time to really master something. Wealthy people know that the person who masters something, will be the person in demand. This person will be paid by others because they will be believed know something others don’t. Again, this is true no matter what the field you decide to pursue.

Understand the Financial System

Time and time again, we see people who achieve great wealth, but lose it all. Usually, these people obtained wealth through inheritance or they won it in a lottery or through not having a thorough understanding of our current financial system. Understanding the financial system means understanding taxes, fiat currencies, equities, debt, interest rates, bonds, stock markets, corporations, laws and above all, how to protect and grow your wealth. This is important if you don’t want to lose what you have built up. You can have ownership in lands, buildings or diamonds or whatever, but without understanding money, you will have to sell your hard won items, just to live. You have to have money for daily or long term needs. If you have lots of money, but no real ownership in anything of value and that currency falls out of favor, you will be broke the

very next day. A person has to understand our present financial system to have long term wealth. My suggestion is to make it a continual mission to understand our financial system.

Understand the Age in Which You Live

We don’t live in the age of the “horse and buggy” or the Stone age. We presently live in what has been coined the “Information Age.”

What this means is that in order to obtain wealth, we have to understand our place in time and in history. Men in the past became wealthy by the ideas of their age. This is powerful to understand, because a person can become wealthy in our with the knowledge of computers, computer languages, the internet or by processes and services that your forefathers couldn’t even dream about. I remember reading about the founders of Skype and how they sold their business for billions of dollars, even though they didn’t have a real product just a service. Ideas and the execution of those ideas are one way to become wealthy in our era.

Get a Team of People to Help

Every wealthy person has a team of people to help them obtain wealth and keep their wealth. You can’t do it by yourself. You have to eliminate this thought from your thinking. Your team should include whatever is outside your area of core competency. This may be an accountant or marketing person. Enlist a mentor. This is someone who has been down the road that you are trying to go. They will know something that you don’t or help you see the caution signs on your way.

Focus, Focus, Focus

This should go without saying, but you will need to focus on one idea or thought at a time. You can’t ride a horse in two directions. If you want wealth, you will need to turn off the television and other distractions and just focus on the one idea. Your best thoughts and directions will come because you decided to focus.

Write It Down

If you are going to a distant city and you are leading a team of people, do you just tell them where they are going or do you write it down and make it explicit? Well, the same is true in pursuing wealth. If you have a team and you are determined to get to a certain financial level, it will have to be written down. The written statement can be a mission statement or it can be daily, weekly or yearly goals. Whatever it is, it has to be written. Why? People will forget, get distracted or generally, be unsure of what they are doing and why. By writing it down, this eliminates all of this and keeps you and the team focused on where you want to go.

About the Author: Charles White is the owner of AAA Data Information. He has previously worked at IBM, MCI (WorldCom), Pagenet of America and AT&T. He has helped small businesses obtain wealth for over 15 years. He presently resides in Portland, Oregon. He can be reached at info@aaadatainformation.com