This is a series of Excerpts from “The Rules of Money” by Richard Templar.
By defining what you mean by wealth, you now have a destination. Setting your objectives is establishing a timetable to reach that destination. It’s quite simple. If you know you are going to drive to a certain place it makes sense to know;
(a) What time you are leaving home
(b) What time you expect to arrive
(c) What route you are going to take
(d) What you will be doing when you get there.
Getting rich is exactly the same. You will want to know in advance what rich means to you, how you intend getting there, how long you expect it to take and what you are going to be able to do or what to do with your money when you get it.
So, having defined what wealth means to you, can you now se the importance of setting your objective? Think about how you intend getting rich and how long it is going to take you and then set your objective. It might be simple: ‘I’m going to be a millionaire by my fortieth birthday and I shall make my money by running my own property development company.’
That was easy. Well is was for me because I’m only making up an example for you. For you I wager it’s going to be pretty hard. This is because you won’t have thought about this before. Oh, I daresay you might have had a casual dream – I want to be very, very rich and/or famous and/or successful. But few people – only the rich, famous and successful ones in my observation – actually decide what and when and how. You have to if you too want to be wealthy. And I assume you o or you wouldn’t be reading this far. God for you.
Now set your objective. I can’t wait.
Back already? How did you get on? Your objective has to be realistic, honest and achievable. By realistic I mean that setting an objective of being the richest person in the world might happen but isn’t going to, it isn’t realistic.
Honest means you have to be true to yourself and set an objective that you can live with and work with. Lying to yourself means it will fail. Lying to others means it will fail.
Achievable? Yes that too. If you know nothing about property and aren’t interested in learning, have no capital and can’t get a mortgage, then setting an objective to be a property developer isn’t realistic, honest or achievable.
Happy with what you’ve got? Good. If not have another bash at it and let’s get a move on, we want to get up and running as soon as possible.
If you enjoyed this excerpt, I would recommend you to get a copy from Amazon (it’s about $10), The Rules of Money: How to Make It and How to Hold on to It
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