Every normal person would wish to be counted as successful. Definition and interpretation of 'success' varies as the number of persons defining it. In this context, however, I am referring to financial success, where there is money available to meet all of one's needs with no opportunity cost. I refer to a state of being financially independent and free of loans and any form of indebtedness.
There is a simple way to test your preparedness and readiness for financial freedom. To test yourself, answer this question sincerely.
'What will you do if you were given $5 million today?'
I understand that the list will be endless so much so that the money may not be enough. I know that needs are insatiable. Among the items that will make the list include, resign from your paid job, buying a dream home in a choice location, getting on to the much desired exotic cruise holidays, getting a new top of class electric car, etc. Some will include donations to charity.
If all you will do with a gift of $5m is to spend it in improving your lifestyle, then you may have failed the test. This is because the money that seemed to be much at the beginning will soon diminish as time goes on. The money will be spent as fast as it came and the later state will be worst than the former because of difficulty to sustain the false lifestyle created.
If you see the money as seed that must be planted so as to produce more fruit, then you have passed the test and proven that you are ready for financial success. Seed must not be eaten but must be planted. It is therefore important to ensure that a portion of that money must be invested (planted) so as to reproduce itself, as a minimum. Money has deep respect for those who put it to productive use and quickly flies away from those who waste it or make it dormant. This is the reason the rich keep getting richer.
Finally, to prove you are ready for financial success, you do not have to wait to get the money before you decide what to do with it. Decide now what you will do with such money and expect the money to come your way. Money has a way of knowing those who are ready to put it into productive use and will eventually find its way to such persons.
There is a simple way to test your preparedness and readiness for financial freedom. To test yourself, answer this question sincerely.
'What will you do if you were given $5 million today?'
I understand that the list will be endless so much so that the money may not be enough. I know that needs are insatiable. Among the items that will make the list include, resign from your paid job, buying a dream home in a choice location, getting on to the much desired exotic cruise holidays, getting a new top of class electric car, etc. Some will include donations to charity.
If all you will do with a gift of $5m is to spend it in improving your lifestyle, then you may have failed the test. This is because the money that seemed to be much at the beginning will soon diminish as time goes on. The money will be spent as fast as it came and the later state will be worst than the former because of difficulty to sustain the false lifestyle created.
If you see the money as seed that must be planted so as to produce more fruit, then you have passed the test and proven that you are ready for financial success. Seed must not be eaten but must be planted. It is therefore important to ensure that a portion of that money must be invested (planted) so as to reproduce itself, as a minimum. Money has deep respect for those who put it to productive use and quickly flies away from those who waste it or make it dormant. This is the reason the rich keep getting richer.
Finally, to prove you are ready for financial success, you do not have to wait to get the money before you decide what to do with it. Decide now what you will do with such money and expect the money to come your way. Money has a way of knowing those who are ready to put it into productive use and will eventually find its way to such persons.
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