Top Seven Must-Do’s To Become Rich In Twenty Years From Now

Someone once told me that you can’t make a flower bloom; that it will bloom when it’s darn well ready to bloom.

And just as the flower needs nourishment and support to get to that stage of growth, so do you need nurturing and support to move through life.

That’s right. Because without knowing what you’re doing, without learning how to build your financial and personal lifestyles to suit your very soul, you live a life of drudgery and frustration.

These top seven tips will demonstrate just how to bloom in twenty years, (or sooner) and will show you how to make your life richer and more fulfilling. Frankly, I can show you how I did it, growing from zero to over a million in savings, investments, with zero debt, but I can’t help you take responsibility for your own choices. That’s up to you.

To tell you the truth, what I did twenty years ago to get to wealthy with zero debt today, I truly wish I had learned this twenty years even before that! Now I’m not complaining, but seriously, it doesn’t matter when you begin. The key is begin today, now.

It’s up to you and it’s a sure sign of independence when you take this information and actually apply it. So even though I can’t make you take responsibility for your life, I sure can encourage you to move forward in the best interests of your experience.

1.  Make a plan – It’s not rocket science.  A simple list of items you want to accomplish will suffice. Decide you will take your money management as something that is as important to your well-being and part of your life with as much attention and passion as eating and sleeping and sex.

2.  Save money – Successful, wealthy people choose not to spend every available dollar on things, but to save and invest it in their own future. Choice is the key to success, like choosing long-term financial security over short-term consumption.

3.   Buy a home – If you save up the down payment, and take out a “reasonable” mortgage that you can afford, even if the economy tanks, do it. You will have this paid off in twenty years and the feeling of home ownership is euphoric!

4.  Monitor your money attitude – If ever there was a key to financial success, it’s attitude. Statistics show that ninety-five per cent of the world’s wealth is controlled by 5 percent of the population. I read somewhere that if all the wealth in the world was collected and redistributed so that every individual on the planet had an equal portion, it would be back in the hands of its current owners within five years. Why? It’s attitude about money that makes the difference. Think about it. Do a little research on people winning a lottery. How long do they stay rich? Temporary at best. In fact, divorce, suicide and even murder has occurred because of money in the hands of people who never had it before and don’t know what to do with it. This proves that people who are not mentally and emotionally prepared to manage money, lose it very quickly.

5. Love what money can do for you People who have attained great wealth, or the level of financial security they were determined to achieve, share a strong belief about money. They believe that their capital should work for them.  I always believed money should work for me and not the other way around. If you begin to believe a portion of your income should be set aside to work for you, it will. If you are deeply in debt and spend every dollar of your income, you could use a shift about money. Your starting point is a belief that takes a long-range perspective on saving and investing. Would you be willing to invest at least 15%? Then reread tip 4 above!

6.  Be consistent – Time and the magic of compound interest can make a small consistent investment into a substantial nest egg. The key is consistency, regular monthly contributions into safe investments that earn 7 to 10 percent every year if possible. Of course, interest rates fluctuate, that’s why safe means dividend paying companies only. (Just my personal experience, stay away from front and back loaded mutual funds. They suck the breathe and depth out of you!) Instead, do your due diligence. For example, if you can invest $120 a month at 10 percent return, it will grow to $159,220 in 25 years. It will also grow to more than $758,889 in 40 years.  (Accumulation of $120 per month compounded at 10% per year)

7.  Start now – today – Even though you may be living pay cheque to pay cheque, in debt up to your eyeballs, frustrated and disillusioned about money, I have good news. There is light at the end of the life tunnel but only if you start now. Of course, if you began building your financial plan when you started your first job or when you earned your first dollar, you wouldn’t even be reading this article. Never the less, the second best time to start is right now, with your next pay cheque.

There you have it.  Not lofty enough? Look, that’s all I did to amass a million net worth over the past 2 decades.  I did my homework. I spent less than I made.  I invested upwards of 15% and more so I could have that nest egg that even if the economy tanked, and there was no more money from government, I would be absolutely okay.

So can you! Start early.  Start now.

We all have dreams and we should have goals.

A goal is a dream with specifics.  A goal has a well-defined objective and a time frame for completion. A dream is very general: “Someday we want to buy a home.” A goal is specific: “We want to buy a home in the Lake District of Edmonton in the next 2 years.” Goal setting, implementation and review are aspects of an ongoing process.  Plus, you send a direct message to your subconscious to warn you if you overspend, and to feel great when you save.

There is only one way to reduce debt and secure your future. That’s taking action. But you can’t take action if you don’t know what you want to achieve. Write it down.

And remember, always tell yourself, great job!


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