Before building a home, blueprints are sketched, supplies are purchased and the house is built. I know that’s pretty simplistic but it will work for our purposes so bear with me :).
The blueprints are the plan. You must first decide on your goals. What does your life look like 3 years from now? 10 years? 30? Some people unrealistically think they will be rich as soon as they land their first full-time paying job but that’s usually not the case. Be realistic and think about what you want your life to look like when you reach your ultimate goal. Then start building goals that will get you closer to that goal.
If you’re not sure where to start I recommend you check out the book Think and Grow Rich by Napolean Hill. It’s a motivational book that touches on building goals and having the right mindset to get where you want to be in life.
Ok back to the house… Supplies.
The supplies you have help you achieve those goals. Tools like this blog, websites and books with educational information and mentors will assist you along the way. Some of the tools I use to help me invest include Morningstar.com, the Wall Street Journal and SeeingAlpha.com.
Now that you have a plan and the tools, you need to build the house. Some people don’t think they are ready to invest because of their mountain of debt, but as a young adult you cannot waste any more time. It’s possible to build a strong house and fix the cracks in the walls at the same time. As long as your foundation- your work ethic and determination- is strong then there is always hope.
Recommendations for today: Read Think and Grow Richand work on your plan for financial success.
What are your goals for achieving success?
If you need deeper work around healing your relationship with money or overcoming your blocks and fears, maybe it’s time for some money therapy.