6 Critical Factors To Financial Freedom And Wealth Building

There are keys to wealth and financial freedom that those who have attained them understand. If you wish to build wealth and achieve financial freedom, then it’s crucial to learn these 6 key factors. Here are 6 things that the successful understand but not the poor or average...


1. They believe in themselves!

Successful people believe nothing can stop them from reaching their goals – financial and otherwise. They do what is necessary to reach those goals. That means they even do things they dislike or take on tasks that seem impossible.

You can sense their self-belief and can almost see it when they enter a room. Successful people exhibit a high level of self-confidence that is contagious. Most are optimistic and maintain a positive outlook even when life is tough. Their confidence is not easily shaken by external factors. They see opportunities in problems!


2. They learn from people who have achieved more than they have!

Successful people know that in order to grow they need to learn from those who have already realized greater success. They know that when you stop growing you are dying!

They ask questions, study and learn from others. One man that I interviewed said to me, “No one has asked me questions like this before!” I wasn’t surprised to hear that as I have heard it before.


3. They recognize the tremendous value of time!

Successful people understand time is their most important asset. They know it is a very scarce resource. They don’t spend much time watching television soap operas. They spend most of their time to find ways to best leverage on their valuable time.

Wealthy people know the power of the use of leverage to achieve maximum gains with minimum efforts. When you can leverage time, you can achieve tremendous results!


4. They understand the importance of investing in themselves!

Successful people understand that many expenses are investments. They know that by spending money to acquire an asset or skill (learning) they will realize a future return. In many cases that return will be a large multiple of their original expenditure. (A good accountant will help them to see this, too!)

Many successful people spend good amounts of money on educational and motivational resources – CD’s, seminars, books, membership websites and more. They know that it is an investment that can never diminish in value because it is an investment in themselves.


5. They implement strategic monetary decisions!

Wealthy people place a significant portion of their wealth in some type of investment that gives them a better return than a savings account. These investments might be real estate, gas and oil, stocks, bonds, or their business.

Successful people also know that not putting all your eggs in one basket is critical. There are far too many stories of people losing everything because
everything was riding on one horse that couldn’t make it to the finish line.


6. They understand the power of being generous givers!

Many wealthy people are also great givers. They have come to see the importance of giving to something beyond themselves. They know that as they give to their community, college, church and other organizations they are helping others and that, too, is a great investment!

To be sure there are tax benefits involved, in some cases tremendous tax benefits (i.e., charitable remainder unit trusts), but for most successful people it is a benefit of giving and not the primary motivating factor.