I previously wrote about the excuse I often hear that people don’t have enough time to create wealth. This week I want to explore further the reasons why you need to find time to prioritize wealth creation.
It is no surprise to you that the world is changing, and it seems at a more and more rapid rate now. The way things are done is constantly changing.
The challenge to you is to try to work out what the changes are going to be, how they are going to affect you, and what you can do to take advantage of them.
If you fail to do this, you will be left behind, wondering how you missed the tide.
Changing Employment Market
To give you an understanding of the scale of change. I was at a conference a while back now where the discussion included the future of jobs in Australia. The presenter suggested that in the next 20 years, more than 5 million current jobs will no longer exist (Australian market) and will need to be replaced with jobs that meet the current technological advances.
The nature of employment in Australia will need to change dramatically to manage the changing scope of jobs. As will the type of education that is provided to meet the demand of these new jobs that will replace the ones that are no longer required.
Are you prepared for this change?
This type of change has always been going on, think about the changes to transport when cars were invented, or faxes and then email, how they changed office environments.
History is littered with examples of where technology advanced society, and people who were prepared achieved great success and wealth.
Current research suggests people entering the workplace now will have up to 9 or 10 changes in their career path in their working life. Compare that to your grandparents who would have expected to have one job for life.
And now after the pandemic there is a realisation that the way of the past is not the way of the future. One in four people are considering or have left their job as they realize that the demands they were living with, tolerating, they no longer are prepared to do it anymore. The impact on the employment market of these changes is going to be HUGE.
Time to Prioritize Wealth
In addition to technology changing the nature of employment, life expectancy is rising. We now expect to live longer as new technology keeps us healthier for longer.
And people are leaving the workplace earlier.
Many people now spend almost as much time in retirement as they did at work, and they have much higher expectations of what their lifestyle should be, especially when compared to their grandparents.
To survive in this changing world, YOU need to be aware of what’s going on, how it might impact you, and make plans to take advantage of these changes.
And this is why time is of the essence…
You need to be making plans for your future now.
And these plans must include how you are going to manage your financial future, how you are going to achieve your financial dreams and ultimately achieve financial freedom.
It’s time to prioritize wealth.
Understand that earning a good wage today doesn’t mean you are creating wealth for tomorrow.
Most people live in a state of pay period to pay period. They earn a good wage but spend it all as well.
You may have the fancy car, the big house, the overseas holidays every year and the things you want when you want them, but are they doing anything more than feeding your ego?
I can tell you with confidence that the wealthy don’t spend a cent until they have allocated part of their income to their investments.
To create wealth you need to be investing…
And The Investor’s Way is to teach you to put available cash into appreciating assets, like property and stocks.
This means YOU need to find a way to put some of each pay into the investing process, before you spend on anything else.
In this blog I have placed considerable time to the mindset of wealth, and that has been deliberate because it is the most important component of your success.
Once you have the mindset understood and you are practicing proper money mindset rituals and techniques, then you can proceed to prioritize wealth creation strategies.
As I have explained previously, wealth creation takes time. The power of cumulative returns takes time to build momentum, so each year you delay is potentially costing you millions of dollars.
Not today, but in the future when your assets are less than they could have been…
So the time to prioritize wealth in your life is NOW. Spend time learning everything you can about HOW to create wealth, and get on the path to wealth, because there is no better time than TODAY.
I am here to give you that knowledge, the guidance and the strategies to grow your wealth. All you have to do is put your hand up to let us know you want the help. In case you were concerned about asking for help, remember that Olympians, Elite Athletes, Titans of Industry, Gurus and everyday winners ALL have coaches. Just sayin’