Wealth Creation Blog

Ironically one of the biggest barriers to creating wealth is the very institutions that are presumably designed to aid us in financial management. In other words, banks and lenders and other financial institutions. These actually impede wealth in many, perhaps the majority, and they do it in a few ways.

The Financial Institution Fear Factor

Wealth creation experts agree—the rich are rich because they do things differently. They make different choices with their money, they use their money differently, and they have different definitions of what is valuable and what is an asset (real estate and homes for example). The wealthy have a much better perspective on the tools of the trade. They understand what is truly an asset to them and what is a liability.

The wealthy also understand that the banks are not out to help them, really, they are out to make money for themselves and their shareholders and vested parties. This understanding comes with a level of clarity, too. The kind of clarity that you get when you understand a person or entity’s true motivation. In this case that motivation is not for your personal financial well-being, it is for the bank’s.

What happens for the not-yet-wealthy is that we are raised with a duty and respect of banks, lenders, and financial institutions. It becomes ingrained in us that we have to play by the lenders’ rules if we are to enjoy any level of financial flexibility. Many of those rules don’t fit into the strategies for true wealth creation, though. In the end what we have left is a factor of fear. We fear going against the system, bucking the trends and breaking the rules of these institutions—even when we can clearly see that there are alternatives.

Are Banks All Bad?

Banks are not all bad and they do have their place. What you need to come to terms with though is that that place is probably quite a lot different than what you were raised to understand it to be. Part of learning to build wealth is re-learning how to work within established systems. To do that you must come to terms with lingering fears and with your own ability to succeed financially—and with the likelihood of having to go against the trends of the establishment.

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

You can think your way to financial success, but along with those thoughts you need to take action. Without action, there is no conduit for success. There is no way to connect the thoughts and thinking with the end result—with becoming rich. And as we know, the best way to maximize the impact of your actions is to give them a degree of focus and planning—to make a plan, set goals, and take actions to achieve those goals. In the beginning it can be difficult to know what your plan for creating wealth should be. So here I’ve worked out a basic plan for achieving financial prosperity. It is basic in nature and is adaptable to your individual wealth creation plans. It is presented in the spirit of progress, and of giving a framework to guide your attempts. It largely covers the steps that are necessary for any successful attempt at building wealth.

The Plan

The plan, as you’ll see, is fairly simple, but if you follow it you will enjoy financial success.

1. Commit. Unless you commit yourself you will never really get things off the ground. This needs to be the first step.

2. Educate. If you knew how to be wealthy you would be already. Find out what you didn’t learn in school and what you need to do differently to build wealth.

3. Set goals. Goals are you targets. They help you get from one point to another and then another until you reach that desired level of wealth.

4. Focus thought. You know by now that thoughts and mindset are elemental in wealth creation.

5. Take action. You also know that to enjoy tangible success you have to take actions to get you there.

6. Continuity. Achieving wealth is an ongoing process. You cannot think once, do once, and then suddenly become rich. You have to continuously live a wealthy lifestyle, continuously improve upon yourself and your thoughts.

Personalizing The Plan

As I said it’s a basic plan. It is a framework to guide you, but you have to personalize it to really succeed and become rich. You need to take this plan to the next level and fill in the details. Decide how you will become educated, decide what your goals are, and decide what actions you will take to see it through. The keys are here, you just need to act upon them to develop your own personalized plan for financial prosperity.

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

More than anything, wealth creation centers around mindset and the thought process. All but the newest of readers here know that if there is one thing we focus on it is mindset and building a mindset of success, for success. Anything that we discuss here in terms of building wealth and making money and becoming rich starts with thoughts. It’s a simple, yet proven, effective method of creating wealth.

The concept is so simplistic that many people find it hard to accept as the way to financial freedom. It’s not unusual for someone to say that they have tried to think their way to wealth, and just had no results, so the concept must be flawed. The answer to that is that the concept is not flawed—but you do have to take care with its implementation. There is more to the wealth creation mindset than having intermittent, fleeting thoughts of wealth.

Thoughts Vs. Dreams

One thing to be cognizant of is the fact that there is a difference between what thoughts and dreams are. It’s a very fine line, and certainly dreaming rich can’t hurt, but your thoughts are more solid and actionable than what dreams are. Dreams are elusive and not given the same weight in reality that real thoughts are. Dreams are intermittent and ever-changing. They are less controlled and less controllable.

You can start with a dream of wealth, but to make that a reality you have to move on and develop those dreams into thoughts. You have to make those thoughts the foundation of your life, plans, and goals so that they have the ability to grow into financial wealth. When your thoughts are not producing results it is time to reevaluate them and find out—are you really thinking wealthy thoughts or just daydreaming about being rich?

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

We’re almost there—to having wealth. We started with being wealthy, and then we talked about what that meant. We know that the reason to be wealthy is so that you can take wealthy actions—because poor people do not take wealthy actions, they take actions that impoverish. Logically, then, our next move is to figure out how to act wealthily.

Define Wealthy Action

Most people are more than willing to take wealthy action. It’s easy to convince them to be wealthy and act wealthy…or at least it would be if they knew how. If you can figure out the actions that wealthy people take, then you could begin to mimic them and develop wealthy habits and actions all your own. Let’s start, then, by taking a look at wealthy actions that are possible for you to undertake now.

Before we do though, I want you to keep in mind one thing—that even a small wealthy action is a good step. That wealthy action is a step towards having financial wealth—money! And also, one step leads to another, which continues the cycle of wealthy action, which continues on to being wealthy, more action, and more wealth. So even if all you can do is find one wealthy act to take today, you are being wealthy and building more wealth.

To start, think about the things that the wealthy do and do not do. If we take a lead from wealth creation, we know that the wealthy

• Make money work for them

• Save and make themselves a financial priority

• Buy quality

• Do not think in terms of want and need—they think in terms of getting and having, of finding ways to get and to have

Any one of these are things that you can do today—you can save money, put it in an account which bears interest (working for you), role it into an investment or share purchase, put off the cheap and easy purchase for a purchase of quality, or simply make a plan to get what you desire. On one level or another you can do each of these things today.

One wealthy action is all it takes. Take an action. Continue the cycle, and let it loose! Act as the wealthy to be wealthy.

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008

It’s not enough to know what you want to be. You have to be what you want to be. Mindset is more than about thinking about becoming, it is about learning to actually be that person.

Don’t Just Think Wealthy Thoughts, Be Wealthy

If your goal is to become wealthy, you have to start now and be wealthy. As long as wealth is limited to something that you will be in the future, you will not achieve that goal—because wealth will always be something that remains in the future, much like the many things on that endless ‘to do’ list that there never seems to be time to do.

If you are ever to be wealthy, you have to start today to be that person. You have to change your mindset to one not only of future wealth creation, but of actual success and wealth. You have to start believing, knowing, that you are what you want to be. You have to stop thinking and acting like a person that wishes and wants and start acting and thinking like a person that is and does.

You Are What You Think You Are

You are whatever it is that you think you are—you are whoever you tell yourself that you are. This is why it is imperative that you first be that person. Because that is who you will continue to be. If you are the person who is living in moderate means now, struggling and financially stressed, that is the person you will continue to be. And that is the house you will build. You will not create wealth; you will only create a stronger house of financial stress and moderate success.

If you are the person who is wealthy, that is the person you will continue to be. The house you build will be one of wealth. You will create a stronger house of wealth.

Poor people are not wealthy people, and wealthy people are not poor people. You cannot be two things at once! So you have to choose today which one you will be. And then you have to be that person. You can change who you are, but you have to elicit that change. Start today and be wealthy!

Sean Rasmussen
Wealth Creation Blog
UniversalWealthCreation.com © 2004 - 2008a