Creation of wealth is a challenge to many people.

Based on
  • My experiences.
  • Books I've read.
  • Podcasts I've listened.
  • Other people's experiences.
Here are 12 things you need to look out for if you want to create wealth.

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Fear can be paralyzing, especially when it relates to building wealth.

People fear:
  • Risk.
  • Uncertainty.
  • Losing money.
  • What other people think.
  • Making a bad investment.

All of these traits result to inaction. To create wealth, train yourself to be courageous and have faith.

2. Comfort

Comfort is a drug. And it can be addictive.

Many people can't build wealth because they are satisfied with their current lifestyle conditions. Are you?

Most are living :
  • paycheck to paycheck.
  • Have a huge amount of debt.
  • Have the nicest house on the block.
But, creating wealth requires you to get uncomfortable.

How can one get uncomfortable?
Its requires you to make significant changes in your life that will help you:
  • Increase your income.
  • Decrease your expenses.

3. Mindset

Mindset is very important.

Truth is, It's going to be very challenging to build wealth if you have a fixed mindset.
Openness to learning :
  • Ideas
  • Concepts
  • Investment Challenges
Will help you win and develop a growth mindset. Make that turn if you find yourself with a rigid mindset.

4. Ignorance

If you don't know, you really don't know. But if you are interested you can learn.
Most people don't know how or why they should build wealth.
It's easy to say ignorance should not be an excuse, but this is the reality for many.

5. Impatience

Patience is a virtue. We live in an "instant" world.

Communicating with people around the world is instant through our phones or the internet.

But building wealth takes TIME.
It takes many years of investing to create wealth and you can't do without patience.

6. Distractions

We live in a busy world. One of the main causes for lack of wealth creation is distractions.

When you let the distractions of world take your time, creation of wealth is going to be an uphill task.
This is because wealth creation requires focus.
Distractions not tamed create a cycle and eventually building wealth won't be a priority.

7. Multitasking

Focus on one thing.
When most people think about building wealth, You find them investing in all of these assets.
  • Crypto.
  • Stocks.
  • Real Estate.
But the truth is, you just need to pick one and start building wealth.

8. Consumerism

It is important to have self control and manage your wants.

Consumerism teaches people that "You can afford it if you like it."
This are just catchy words used by salesmen. The truth is most people can't afford it.

If you'd like
  • New Car.
  • Designer Clothes.
  • Expensive Vacation.

The first step is making a plan.

9. Inconsistency

Be a creature of good habits.

Most people have inconsistent money habits related to:
  • Savings.
  • Investing.
  • Savings.
It won't work if you only invest a few times times an year.
Wealth creation requires you to consistently invest regularly.

10. Lack of Capital

It is obvious that you need money to build wealth.
But you don't need a lot of money when starting an investment journey.
Your investment capital should come from the additional capital after expenses.

11.Lack of Discipline

Discipline exceeds motivation.
Motivation is great but may fail you but discipline will not.

Many people start investing for a few months and they give up.
You will need disciplined once motivation is gone. Also, learn to automate whenever possible.

12. Lack of Self Belief

Most people surfer from self doubt.

You need to believe in yourself first before other people can believe in you. Have faith.

Creation of wealth requires you to "bet" on your:
  • Skills.
  • Ability.
  • Knowledge.
If you suffer from lack of self belief, its time to take a new turn.

Here are more points to guide you in creation of wealth.
  • Take care of yourself.
  • Always learn.
  • Avoid high interest debt.
  • Spend less than what you earn.
  • Purchase income-producing assets.
That's it. Feel free to leave your feedback in the comments.