{"id":167,"date":"2023-02-01T23:07:58","date_gmt":"2023-02-01T15:07:58","guid":{"rendered":"https:\/\/jonfire.com\/?p=167"},"modified":"2023-02-13T15:46:26","modified_gmt":"2023-02-13T07:46:26","slug":"riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success","status":"publish","type":"post","link":"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/","title":{"rendered":"Riches Revealed: 8 Proven Strategies for Building Wealth and Achieving Financial Success"},"content":{"rendered":"<p>Wealth is a topic that comes up often in discussions, but how do we define it? What does it look like in our lives? Is wealth limited to money and possessions, or does it come from more intangible things? In this post, we will explore eight strategies for building real wealth and achieving financial success.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#1_Establish_A_Plan_For_Your_Lifes_Purpose\" title=\"1. Establish A Plan For Your Life&#8217;s Purpose.\">1. Establish A Plan For Your Life&#8217;s Purpose.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#2_Invest_In_Yourself\" title=\"2. Invest In Yourself.\">2. Invest In Yourself.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#3_Dont_Be_Afraid_To_Ask_For_Help\" title=\"3. Don&#8217;t Be Afraid To Ask For Help.\">3. Don&#8217;t Be Afraid To Ask For Help.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#4_Save_More_Spend_Less_And_Always_Pay_Yourself_First\" title=\"4. Save More, Spend Less, And Always Pay Yourself First.\">4. Save More, Spend Less, And Always Pay Yourself First.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#5_Create_An_Emergency_Fund\" title=\"5. Create An Emergency Fund.\">5. Create An Emergency Fund.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#6_Create_Multiple_Income_Streams\" title=\"6. Create Multiple Income Streams\">6. Create Multiple Income Streams<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#7_Build_A_Solid_Foundation_With_Debt_Repayment\" title=\"7. Build A Solid Foundation With Debt Repayment.\">7. Build A Solid Foundation With Debt Repayment.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#8_Protect_Your_Financial_Future_With_Life_Insurance_And_Disability_Insurance_Coverage\" title=\"8. Protect Your Financial Future With Life Insurance And Disability Insurance Coverage.\">8. Protect Your Financial Future With Life Insurance And Disability Insurance Coverage.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#If_you_follow_these_8_principles_you_can_build_real_wealth_for_yourself\" title=\"If you follow these 8 principles, you can build real wealth for yourself\">If you follow these 8 principles, you can build real wealth for yourself<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"http:\/\/jf.local\/riches-revealed-8-proven-strategies-for-building-wealth-and-achieving-financial-success\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"1_Establish_A_Plan_For_Your_Lifes_Purpose\"><\/span>1. Establish A Plan For Your Life&#8217;s Purpose.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">When you\u2019re clear about what you want to achieve in life, it\u2019s easier to make smart financial decisions. The more focused you are on your goals, the better the chance of success and fulfillment. To ensure that this happens:<\/p>\n<ul>\n<li>Define Your Goals<\/li>\n<li>Set A Schedule For Achieving Them<\/li>\n<li>Be Realistic About Your Goals And Don&#8217;t Overreach Yourself Too Soon Or Too Fast<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"2_Invest_In_Yourself\"><\/span>2. Invest In Yourself.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">Investing in yourself is the most important thing you can do to build wealth and achieve financial success. You don\u2019t need to be a millionaire to invest in yourself; you just need to find ways of learning new skills and increasing your knowledge base.<\/p>\n<p>You can start by reading books on investing and finance, like this one! Reading books will help you develop the right mindset for building wealth. Then, once your mind is ready for action, it\u2019s time for some hands-on learning: take courses or classes at local colleges or universities; sign up for online courses that teach specific skills like coding or web design (many are free!).<\/p>\n<p>You might also consider hiring an advisor who knows more than you do about investing\u2014this person could be an accountant who specializes in retirement accounts; a financial planner who helps clients plan out their finances; or even just someone who has experience working with young professionals!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"3_Dont_Be_Afraid_To_Ask_For_Help\"><\/span>3. Don&#8217;t Be Afraid To Ask For Help.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/businessman-drowning-in-the-sea-with-a-hand-holding-a-sheet-of-paper-with-help-written-stockpack-adobe-stock.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-268\" src=\"http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/businessman-drowning-in-the-sea-with-a-hand-holding-a-sheet-of-paper-with-help-written-stockpack-adobe-stock.jpg\" alt=\"Businessman drowning in the sea with a hand holding a sheet of paper with help written\" width=\"1000\" height=\"668\" title=\"\" srcset=\"http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/businessman-drowning-in-the-sea-with-a-hand-holding-a-sheet-of-paper-with-help-written-stockpack-adobe-stock.jpg 1000w, http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/businessman-drowning-in-the-sea-with-a-hand-holding-a-sheet-of-paper-with-help-written-stockpack-adobe-stock-300x200.jpg 300w, http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/businessman-drowning-in-the-sea-with-a-hand-holding-a-sheet-of-paper-with-help-written-stockpack-adobe-stock-768x513.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p data-pm-slice=\"0 0 []\">You will never know what you are capable of unless you try. Don\u2019t be afraid to reach out for help and advice from family, friends and professionals. If someone tells you \u201cno\u201d, don\u2019t take it personally; just ask someone else.<\/p>\n<p>There is nothing wrong with asking for help in building wealth or achieving success in any area of life (including your career). Don\u2019t be embarrassed about needing help for managing money\u2014the more people who know about your financial goals, the better chance they have at helping achieve them!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"4_Save_More_Spend_Less_And_Always_Pay_Yourself_First\"><\/span>4. Save More, Spend Less, And Always Pay Yourself First.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Save more than you spend.<\/p>\n<p data-pm-slice=\"1 1 []\">If you can\u2019t save money, it\u2019s likely because of:<\/p>\n<ul>\n<li>You spend too much and don&#8217;t have any left over to save.<\/li>\n<li>You don&#8217;t know how much money is coming in each month, so spending is out of control (no budget).<\/li>\n<li>It&#8217;s difficult for people who have been taught that buying things will make them happier to learn that saving for future needs or investing in something like real estate can actually bring more happiness than buying new things all the time!<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"5_Create_An_Emergency_Fund\"><\/span>5. Create An Emergency Fund.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">An emergency fund is an important part of your financial plan. The purpose of an emergency fund is to have money set aside so that you can pay for unexpected expenses without having to borrow or use your credit card. The amount you should have in your emergency fund will vary depending on your situation and personal preferences, but it\u2019s recommended that you have at least three months\u2019 worth of living expenses saved up in case something goes wrong.<\/p>\n<p>If possible, try to keep this money somewhere outside of your checking account so that it\u2019s not affected by overdraft fees or other types of charges associated with having insufficient funds in checking accounts (which may happen if one part of your income stream dries up). You might open up a high-yield savings account at a local bank or credit union\u2014or even investing the money for greater returns!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"6_Create_Multiple_Income_Streams\"><\/span>6. Create Multiple Income Streams<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/man-puting-golden-coins-on-a-board-representing-multiple-streams-of-income-concept-of-multiplying-sources-of-revenue-composite-image-between-a-3d-illustration-and-a-photography-stockpack-adobe-stock.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-269\" src=\"http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/man-puting-golden-coins-on-a-board-representing-multiple-streams-of-income-concept-of-multiplying-sources-of-revenue-composite-image-between-a-3d-illustration-and-a-photography-stockpack-adobe-stock.jpg\" alt=\"Man puting golden coins on a board representing multiple streams of income. Concept of multiplying sources of revenue. Composite image between a 3d illustration and a photography.\" width=\"1000\" height=\"618\" title=\"\" srcset=\"http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/man-puting-golden-coins-on-a-board-representing-multiple-streams-of-income-concept-of-multiplying-sources-of-revenue-composite-image-between-a-3d-illustration-and-a-photography-stockpack-adobe-stock.jpg 1000w, http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/man-puting-golden-coins-on-a-board-representing-multiple-streams-of-income-concept-of-multiplying-sources-of-revenue-composite-image-between-a-3d-illustration-and-a-photography-stockpack-adobe-stock-300x185.jpg 300w, http:\/\/jf.local\/wp-content\/uploads\/2023\/02\/man-puting-golden-coins-on-a-board-representing-multiple-streams-of-income-concept-of-multiplying-sources-of-revenue-composite-image-between-a-3d-illustration-and-a-photography-stockpack-adobe-stock-768x475.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p data-pm-slice=\"0 0 []\">You can create multiple income streams by starting a side business or freelancing, starting an online business, and investing in stocks and bonds.<\/p>\n<p>Multiple income streams are important because they help you build financial stability. If one stream dries up, you will still have others that can support you until the first one gets back on track again.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"7_Build_A_Solid_Foundation_With_Debt_Repayment\"><\/span><span style=\"color: #000000; font-size: 22px;\">7. Build A Solid Foundation With Debt Repayment.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">While it\u2019s important to build a firm foundation with debt repayment, it\u2019s also crucial that you have enough money left over each month to pay all of your other bills, as well as live on. If you\u2019re not sure whether you can afford something and still make ends meet, then don\u2019t buy it!<\/p>\n<p>You should start by paying off any high-interest credit card debt first (you can do this by transferring balances from high-interest cards onto one low rate card). Once all of that\u2019s been paid off, apply the same principles used for student loan repayment above: decide how much money needs to go toward paying down each type of debt so they\u2019re all paid off within five years.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"8_Protect_Your_Financial_Future_With_Life_Insurance_And_Disability_Insurance_Coverage\"><\/span><span style=\"color: #000000; font-size: 22px;\">8. Protect Your Financial Future With Life Insurance And Disability Insurance Coverage.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">Life and disability insurance are essential for protecting your family\u2019s financial future.<\/p>\n<p>Life Insurance: If you die, life insurance can provide them with a lump sum payment to help cover funeral expenses, their mortgage or debt payments and other living expenses such as food, clothing and shelter. It can also pay for education costs, such as tuition fees, for your children\u2019s university education.<\/p>\n<p>Disability Insurance: In case of an accident or illness that prevents you from working, disability insurance would pay out regular monthly income until you return to work or reach retirement age (whichever comes first). If left unclaimed by the policyholder upon death or if not claimed within 2 years after termination of employment (if applicable), this benefit will lapse into the hands of their beneficiaries instead, so make sure they know where it is stored safely!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"If_you_follow_these_8_principles_you_can_build_real_wealth_for_yourself\"><\/span>If you follow these 8 principles, you can build real wealth for yourself<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">Wealth is not a measure of money. It\u2019s the ability to live life on your terms and achieve financial freedom. Wealth is the ability to buy what you want, when you want it\u2014and there are no limits on what that might be: an expensive car? A beautiful home? A vacation home in Hawaii? All of those things are possible with enough hard work and persistence!<\/p>\n<p>Besides being able to make big purchases without worrying about how much they cost or where the money will come from (i.e., having enough saved up), wealth also means being able to retire early if that\u2019s your goal. With a few smart investments now, it won\u2019t be long before those dreams become reality!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><span style=\"color: #000000; font-size: 22px;\">Conclusion<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-pm-slice=\"0 0 []\">We hope that this list of 8 proven strategies to building wealth has been helpful. We know it&#8217;s difficult to get started with your finances. But we also believe that if you follow these principles and make them part of your daily life, then it will become much easier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wealth is a topic that comes up often in discussions, but how do we define it? What does it look like in our lives? Is wealth limited to money and possessions, or does it come from more intangible things? In this post, we will explore eight strategies for building real wealth and achieving financial success. 1. Establish A Plan For Your Life&#8217;s Purpose. When you\u2019re clear about what you want to achieve in life, it\u2019s easier to make smart financial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[19,12,17],"tags":[9],"_links":{"self":[{"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/posts\/167"}],"collection":[{"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/comments?post=167"}],"version-history":[{"count":5,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/posts\/167\/revisions"}],"predecessor-version":[{"id":270,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/posts\/167\/revisions\/270"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/media\/169"}],"wp:attachment":[{"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/media?parent=167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/categories?post=167"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/jf.local\/wp-json\/wp\/v2\/tags?post=167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}