The easiest way to find out is to answer five simple questions.
In less than 30 seconds you’ll know.
1. Are you satisfied with your current financial plan? Yes___ No___
2. Do you have a plan in place to financially provide for yourself and family long-term? Yes__ No__
3. Do you run your life like a business? Yes____ No____
4. Have you defined your long-term Financial Life Goal? Yes__ No__
5. Will the way you’re currently handling your finances enable you to live your life goals and dreams in the future? Yes__ No__
Before we talk about your answers let me give you a few facts about how most of the people, “The Jones” living around us, are handling their wealth. Let’s make sure you don’t confuse the Jones’ lifestyle as one that is building wealth.
• As many as 70% of Americans are living paycheck to paycheck.
• They’re driving around in a $29,551 financed car with $493 monthly payments.
• They have an average credit card debt of over $15,000.
• Student loans somewhere between $20,000 and $50,000.
• They’re giving less than 2% to help others (churches, non-profits).
• And, they have less than $50,000 set aside for retirement.
Now back to your quiz score. If you answered “Yes” to all five questions, congratulations. You are definitely on the wealth builder road. Keep doing what you’re doing.
But for most of us I’m going to make a wild assumption that you answered “No” to at least one or more of the questions or at the very least, you have concerns about your finances. Do me a favor. Look back at the questions again and think how it would feel if you answered “Yes” to all five questions? Really think about it. Plus, what would it mean to your family and community? I think we can all agree that five Big “Yeses” would be a good thing. So what do you do to get started? Let me give you a few ideas.
- The first thing before the first thing. I believe before we can truly start down the wealth builder road we have to know “why” we are heading down that road. For me, the answer to my “why” is rooted in what I call my Core Beliefs which you can read more about at www.jeffpinkerton.com. At the center of my wealth building is a fundamental acceptance that none of it belongs to me anyway, but to God.
- Start, NOW. The biggest reason I see that people don’t become wealth builders is they never start. Decide right here and now you have had enough “Nos” in your life and you are ready to start. Not tomorrow, not next Monday, not next week, but NOW. Start, NOW. Oh and by the way, we are never to old to start. Small changes now regardless of age can have significant impact on our lives in a few short years.
- Reject Jones-itis. The Jones are broke; just take a look at the stats above. For most of us to be successful wealth builders we must reject the Jones’ lifestyle. Jones-itis is killing our wealth building dreams. Decide you’re not going live your life like the broke Jones.
- Act Like A Wealth Builder. When you stop and think about it, almost every decision at some level effects our wealth building. The key is to recognize it and then act upon on it. Start looking at all your decisions through the eyes of a wealth builder. Can you imagine the results you would achieve in your wealth building if acted like a wealth builder?
You’ve established your core beliefs; you’ve decided to start… start, NOW; you’ve rejected Jones-itis, and you’ve started acting like a wealth builder. Do you see how quickly you can start to transform a financial life of “Nos” into a wealth building journey headed towards your dreams?
So now what? What do you do now?
My good friend Chris Hogan has written Retire Inspired. Chris’s book can help you create a retirement plan that will get you where you want to be.
Crown Ministries has some great studies, books, and on-line resources; many are free.
Pick up a copy of Randy Alcorn’s book, Managing God’s Money to help you develop your core beliefs.
Maybe for the first time you’re sensing you can do this. I hope so, because you can. If I can help you, let me know.
And remember, when your wealth building dreams are yielding life and joy, that’s Uncommon Wealth.
Enjoy your dreams!
Start tuned to next week when I share the Number One reason people fail at wealth building.