Wealth Steps.pdf

Effortless English

Wealth Steps

“There was a study done a number of years ago of rich and poor all around the world. The study

wanted to find out how people born into poverty eventually become wealthy. The study found that

these people, regardless of which country they lived in, possessed three qualities. These qualities

were:

1. They maintained a long-term vision

2. They believed in delayed gratification

3. They used the power of compounding in their favor

The study found that these people thought and planned for the long term and knew that they could

ultimately achieve financial success by holding to a dream or vision. They were willing to make short

term sacrifices to gain long term success. They invested money, even tiny amounts, and multiplied

it by the power of compounding interest .”

--Robert Kiyosaki

What are your dreams? What is your glorious vision?

What kind of life do you truly, deeply want?

Write it down. Now. Write down your big dreams.

Next, ask yourself, “What am I willing to sacrifice now to achieve my long term dreams?” Be specif-

ic . Write it down.

Then, every day, review your dreams and the sacrifices you are willing to make. Remind yourself,

again and again, of your big dreams. Don’t let them fade . Don’t let them die. You must keep your

vision alive. You must feed it with your excitement and your belief.

Remember the study-- those that succeed maintain a long term dream. They make small sacrifices

now to get closer to their long term dream. They cut a few unnecessary expenses. They eliminate

all liabilities. They save money. They invest.

They use the power of compounding. In other words, they invest in businesses, or stocks, or real

estate, or something that pays them an extra percentage every month. Perhaps they make 1% on

their investment every month. Perhaps they make 5%. Perhaps they make 10% or more.

The amazing thing is-- even small percentages create great increases long term. Three percent is

almost nothing after one month, but after 20 years, even an extra three percent return on invest-

ment can create big increases in wealth.

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This formula takes patience. You must have a long term view. You must have your big dreams and

big vision-- and you must sacrifice now so you can have that big dream in the future.

This study looked at people from many different countries, and the formula was the same for all of

them. They all had a dream. They all sacrificed in the short term to succeed in the long term. They

all sacrificed by reducing expenses and eliminating liabilities.

They all focused on investing by creating profitable small businesses, by intelligently buying stocks,

by intelligently buying real estate , by intelligently buying education, training, and skills.

This is a formula that you can follow too. It may take time. It will take patience and discipline. But

you can do it.

And you will succeed.

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