What income level do you think it would take to achieve your goals or dreams? Do you want to build wealth through working, investments, or some other means? What kinds of things and experiences would you hope to gain from being rich? A huge home? A yacht? The ability to travel the world? What less tangible things would make you feel rich? Supporting a family? Becoming a leader in your career? Being able to make significant donations to charities?
People are often told that “doing what you love” is the key to success. You can’t always turn your passions into a way to make money, however. Concentrate on finding a job that allows you to earn the level of income you want, and that you value–even if it’s not your dream. For example, painting landscapes might be what you really love to do, but hard to turn into a career that will lead to wealth. However, you might be able to pursue a well-paying job managing a museum or arts foundation, and paint in your spare time. While you might not become super-rich this way, you can attain financial security and still find work in an area you value. On the other hand, don’t make the mistake of seeking a job you hate, just because it leads to lots of money. That’s a sure way to become burned out and unhappy.
Buying an economical car instead of a Rolls Royce Downsizing your home to reduce your mortgage or rent payment Regularly setting aside a specific portion of your income for saving and investments Putting some money toward investments that are higher-risk but have the potential for higher returns, such as stocks, rather than just toward relatively safe but low-earning investments, like savings accounts. Talking to a Certified Financial Planner (CFP) or other trusted advisor to plan your investments and wealth growth. Living frugally, which can increase your happiness. [2] X Research source Studies show that less clutter, fewer things, and fewer expenses can reduce stress, so keep it simple even if you are rich.
Keep your eye on the intangible, non-material things you identified when defining “rich” for yourself. Things like valuing your work, the people around you, your health, etc. matter much more for happiness, in the end, than the stuff that you have or don’t have.
Make sure to spend quality time with your family and friends. Do whatever you enjoy–go on a vacation with them, meet them for dinner, play games together, or just talk. Spending quality time with people you love also shows them that you value them above all things, even money. This will increase their happiness as well.
Spending money to free up more of your time can also increase your happiness. So, if you can afford it, pay someone to clean your house, mow your lawn, or other low-priority tasks, rather than doing it yourself, giving you more time to concentrate on what you love.
Find a charity or organization involved in something you value, whether it’s housing the homeless or giving seed money to startups, and donate.
Tutoring at-risk children Giving motivational talks to young entrepreneurs about how you became successful Getting involved in your community, through local politics, charities, etc.
A strong sense of family Charity (giving to others) Independence (the feeling that you are able to do what you want to) Pride in your work or other accomplishments
Remember that rich people encounter their own problems that aren’t a factor in the lives of others. For instance, they may worry that their children will be labeled “trust fund babies,” or that their friends will only like them because they have money.
You might include an entry in your gratitude journal that describes how you are thankful that someone held the door for you when your hands were full, or how you are thankful for your good health. You could tell your sister “Jane, I just wanted to let you know how thankful I am that you always have a positive attitude. You always lift my spirits!”
Pay down your credit cards, if you have any Work to pay off any loans you may have, such as a mortgage or student loans Avoid taking on more debt for things you don’t really need. For example, if your current car works fine, don’t take out a loan to buy a new one.
The right location for you depends on your values–some people want the excitement and amenities of a metropolitan area, while others long for the openness, quiet, and solitude of rural areas.
