Rick Wallace Ph.D, Psy.D.

While we are all human, we are not all the same in the way of desire and expectation. With that being said, we all have financial goals that are unique to us — serving our own unique desires. There are some of us who have immensely extreme financial goals that include a private jet, owning an island and multiple vacation homes in exotic places. Others have more modest goals that are the ones that matter most to them, such as never having to be concerned about having enough money to pay the basic bills and household expenses. There are even others who would simply love to have enough extra money to take the family on an annual European vacation.
At the end of the day, it is my belief that everyone should have financial goals that at least ensure that they are financially independent — having enough money to not only cover all of the day-to-day expenses for life, but enough to enjoy some of the pleasures of life that make it worth living. After all, we are not here simply to survive, we are here to live and thrive.
The point is to make the game of financial achievement and success a winnable one. It does not matter if you are just getting started on your financial goals, or whether you have been working on your financial dream for a while, there are some actionable steps that you can take that will fast track the process.
While most people are aware of one of the most important steps in the pursuit of financial freedom, far too many fail to activate it. In order to take control of your financial destiny, one of the first things that you must do is transition from the position of consumer to that of business owner and investor. You must be able to produce, own and sell a product or service that continually adds to your net worth. If you are completely new to the idea of building wealth, you may not have an understanding of what net worth means. In its simplest form, the term “net worth” is the representation of your total worth, including all liquid and hard assets, after your debt has been subtracted.
If you are going to build wealth and become financially independent, then you are going to have to become an owner and an investor. In fact, you should start investing immediately, no matter how small the amount, because this will allow you to tap into the power of compounding growth. If you are like most people that come to me on a limited income, you are probably saying that I don’t have any discretionary income to invest. This is because you are still in need of an adjustment in how you think toward and view money. The truth is that you do have the money to invest; you are just spending it on other things that you have currently placed a higher value on.

Learn 5 steps that will help you fast track your progress to financial freedom!