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5 Signs You’ll Be Rich 10 Years From Now
Did you know that most people don’t build wealth in their lifetime not because of things they can’t control but because of things they can control? 🤔
For some people, “wealth” means being able to pay their bills without worry, and for others it means good health and financial freedom.
Whatever your definition of wealth is, everything we share in this post will help you shift your thinking so you can go from where you are now to where you eventually want to be.
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Financial Joy: Eliminate Debt, Grow Your Money, and Unlock Financial Freedom in 10 Weeks
5 Signs You’ll Be Rich 10 Years From Now
Here are 5 daily things you need to stop doing to really get rich.
1. You don’t do everything yourself
The idea of doing everything yourself is born lack of.
According to our experiences, one of the most effective ways to achieve your goal is to do it through other people.
Suppose you want to acquire some assets one day, e.g. real estate.
Combining effort, ideas and money with other people will help you get there faster.
In addition to such examples in our life with family, we had members of our community, a Financial Joy Academy, raise money to purchase a property.
They were only able to do this because they had built over time confidence and their mindsets aligned.
The same goes for successfully building a business or side hustle. You need other people.
As well as running The Humble Penny we run a nursery business with other family members.
Even though we are not involved every day, we benefit from this business even though it is run by other people every day.
Making these successful moves across asset classes required a subtle shift in mindset from only thinking of yourself as the source of your future success, but instead thinking that others will come along with you.
If you dig deeper, you’ll realize that building wealth is rooted in creativity, and creativity is rooted in connecting with others.
Action step: Stop doing everything yourself. You will get along faster with other people.
2. You are not living in expensive debt
The UK, US and other similar large economies have been built on debt with a debt to GDP ratio of over 100% for all of them.
This normalization of debt can also be seen in the rise in household debt in the UK and similar economies.
Many households rely on expensive debt to afford their lifestyles.
Although some people need debt because of the challenges of the cost of living crisis, for most people, the issue of debt is due to bad money habits.
Here’s a snapshot of UK household debt:
In addition to student loans, credit card and hire purchase debt remain a huge growing problem for households.
We even asked the Humble Penny community what their debts looked like outside of a mortgage, and here’s what they shared:
The trend is quite similar to the national picture.
But not all debt is bad. How wealthy and less wealthy households use debt is different, according to the survey.
The Wealth and Assets Survey (ONS) shows that wealthier households use cheaper debt to acquire assets (e.g. property) that I estimate with inflation:
Wealthy households also have a lot of pensions and financial wealth.
Here is the picture of wealth per decennial:
In our experience, wealth is possible (over time), but only once you get rid of your dependence on expensive debt.
Action step: You need to work on the root cause of your bad money. Only when you stop relying entirely on expensive debt does asset investing become the focus.
3. You don’t hear too many voices
Chances are, you might be getting poorer right now just because of what you’re hearing.
Since 2020, when we were all locked and glued to the internet, the number of people sharing information online has skyrocketed.
While this is great for creativity, it also unfortunately means that there is a lot of false, fraudulent and poor quality information out there.
Be very careful.
Before you do anything you learn from people, do more due diligence yourself.
Action step: Pick 1 – 3 people you listen to and make sure they have the credentials and lived experience.
4. You don’t wake up without a goal and a plan
What is your current goal right now? 🤔
Too many of us wake up every day and go into autopilot and yet expect certain results in our financial lives.
Having a goal and a plan gives you focus, belief and a sense of purpose.
It also means you’ll get better at saying NO to random ideas, business or career opportunities if they don’t align with your plan.
Action step: Write down your goal and plan in a notebook (not on your phone) and look at it every day without fail. Make sure it relates to the vision you want for your life.
5. You don’t stand in your own way
We love this Napoleon Hill quote:
“Whatever your mind can conceive and believe, it can achieve.”
The problem is that most people don’t give themselves enough time to grasp anything.
If you can’t conceive of anything, how can you believe in anything?
If you don’t believe in anything, how will you achieve anything?
You have to go out of your way.
Action step: Give ME more time to think about exactly what you want to achieve in your life. Then ask yourself, WHERE can you reach me faster This is one way to get out of your own way.
conclusion
Building wealth is like doing admin.
It is about shifting resources (time, skills and money) including other people’s time, skills and money to good opportunities.
By scaling back, building wealth requires a radical change mentalitya desire to improve yourself skill set and a need to follow a proven set of tools and design.
One such set of tools and plan is the step-by-step 10-week plan to help you get out of debt, grow your money, and unlock Financial Freedom.
In a world of uncertainty and a high cost of living, many people need to know how to build wealth while enjoying life and prioritizing their well-being.
This is why we decided to write our book from the lived experience of a couple with children who actually have a lived experience of achieving financial independence.
We know what it’s like to start from scratch and try to build wealth with so many daily challenges.
Financial Joy will help you turn your life around from small beginnings and plan a life of financial freedom filled with small experiences that bring you joy.
Financial joy is for all and it’s accessible to you now, not later. Get started today to grow your money and create a life you love 😍.
Huge thanks to everyone who helped make our book a #1 bestseller on Amazon within 24 hours. Thank you 🙂
Pre-order our book here
Other things to read about how to get rich:
Which of the 5 signs you’re going to get rich from today’s post resonated with you the most? Comment below and share some thoughts.
