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Becoming A Rich Adult
Pave
Your Way towards Becoming A Rich Adult
By Phillip Johnson
They say a building can be
only as strong as its foundation, and that couldn’t be truer.
It’s all the little details
in a story that makes each chapter worth reading and, as humans, our lives are
full of chapters galore.
One would like to believe that his actions today
might not have that much of an impact on their life a few years from now, but
that’s not entirely true.
Careful planning and smart thinking can
skyrocket one’s growth in the future years, and we’re going to talk about how
and why this works.
The decisions you take in your youth might not
necessarily make or break your career or successful, but it sure makes a
difference to it.
A lot of us are conditioned as young adults to
choose a certain path that’s “safe” or mold ourselves into being something we
might not be.
For example, how many doctors today truly wanted
to be doctors when they were younger?
Or how many engineers became engineers simply
because they were told that that’s the safe option to choose?
Learn Early in Your Youth
Your younger years are when you take some of the
most crucial decisions in your life, and possibly the most game-changing ones
too.
So, how do you use this time to make choices
that lead you to success?
How do your decisions in your youth ensure that
you become a rich and thriving adult?
There are many books and theories that talk
about growth being a process that starts off very early, especially when
becoming rich is the goal.
Think and Grow Rich is a critical self-help book
that discusses how to become rich; and like most life-changing books, reading
it at age 20 is better than reading it at age 40.
If you don’t want to read the whole book, you
can read this quick blog on the 13 principles of Think and Grow Rich; which shows
you how planning and analysis play such an important role in building a future
for yourself.
Here’s a list of tips that we think might just
be the answer:
1. Think big
When we say think big, we’re also saying thing
long term.
It’s not just about an exam you’re taking in
college or the next semester that you need to think about, and it’s also what
your plan of action is going to be when you clear all of that.
To think big, you require self-confidence.
Are you confident enough that you’ll clear your
current obstacles and be able to tackle bigger ones?
If yes, then you’re on the right path. Thinking
big not only prepares you for the future but also equips you to plan for it.
You can’t begin the planning process when you
don’t have the bandwidth to plan in the first place. So, think big, and then
move on to the next step.
2. Plan smart
The reason we’re adding the “smart” after the
“planning” is that anyone can plan; making a plan isn’t that hard, no matter
how simple or complicated it is.
However, it takes a lot of thinking and
assessing to make a plan that’s smart and actually makes sense, both logically
and literally.
A plan that isn’t feasible is just a product of
time wasted, while a practical and probable plan can take you that much closer
to becoming a successful adult.
When you plan smart, a lot of factors come into
play: finances, timelines, current situations, availability of resources, your
own personal abilities, and so on.
3. Save,
save, save some more
We can’t stress enough on how financial planning
in your earlier years can significantly change the way you live when you’re
older.
It’s tempting to throw money on things that make
you happy temporarily, but saving at least a portion of your money and
multiplying it can come very much in handy when you’re older.
Many entrepreneurs, the money they saved up in
college turned out to be the starting point for their careers and business
ideas.
Whatever your source of income might be, whether
it’s an allowance or a part-time job, saving on a monthly basis can really add
on to your advantage later on.
4. Hone your
skills
No one understands your potential better than
you do, and that’s the truth. You know what you’re good at and what you can
excel at, and the next step is to hone this skill.
Some of us are born to do a certain thing, while
the rest of us find our path after a lot of trial and error.
When you’re younger, you have umpteen
opportunities to invest in yourself and truly mould your skills into something more valuable and
lucrative.
We don’t live in a world that is averse to
certain talents anymore.
Today, no matter what you’re good at, there’s a
certain section of the market waiting to welcome you in.
So whether you’re a stellar painter or a natural
born stockbroker, remember to invest in this skill earlier on in life.
5. Upgrade
your knowledge
You’re going to gather information and knowledge
throughout your lifetime, and it’s your job to be as open to new ideas as
possible.
At no point can you say “I’ve learned/understood
enough” because that leads to stagnation of thinking at some point.
What you need to work on is constantly upgrading your knowledge and
your mind, consequently.
Think of your mind as a library that’s
continuously building new shelves to accommodate new books and this space you
have is only limited by your unwillingness to learn.
Someday, even the most minute and insignificant
thing you’ve learned can become a key lesson to remember and even help you out
of a situation.
Get Started towards
becoming a Rich Adult
If you happen to talk to a rich person someday,
ask them this “When did you know that you wanted to be rich?”
And if they respond with “Since my younger
days,” you can be rest assured that their planning to become rich began around
the same time as well.
Becoming rich isn’t just about climbing a
ladder; first, it’s about understanding the ladder, next it’s about learning
how to climb it.
So, what you choose to do with the time you have
in your youth translates into how successful you become as an adult!
The
Editor’s articles are a collection of articles submitted by non-regular
contributors. They are just as valuable as any other. The Editor may have
tweaked with a word or two, to provide clarity or improve readability and
clarity. You read knowing that the Editor has selected some of the best
knowledge to share with the readers of thinkwealthmagazine.com. For comments
and submissions, email theEditor@thinkwealthmagazine.com
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