ARE YOU A WEALTH CREATOR OR …?
How do you define wealth? For most is having plenty of money. For others is having free time and plenty of money. For others is having free time, plenty of money and great relationships. For others is having free time, plenty money, great relationships and excellent health. And for others is having all the above and a great relationship with Christ and living the life He modeled for us to live. No matter how you define wealth, these three principles apply into wealth creation.
PRACTICE LONG TERM THINKING
Decisions compound over time either for the positive or negative. Always ask the questions how will it matter in twenty or two thousand years?
Have I really earned what I want? If we have not earned something we do not deserve it. Mortgaging the future for short term pleasure is a recipe for wealth destruction.
APPLY THE POWER OF COMPOUNDING
This is the 8th wonder of the world. Compound is to pay interest on both the accrued interest and principal. A ways to picture compounding is to imagine the ripple effect. Throw a stone in a quiet pond and see the ripple waves on the water surface. Some of the ripple effect we can see but most powerful of ripples are invisible to the eye and to our own understanding. This is where faith comes in. Let’s dive into the power of compounding so we can learn how to benefit from one of the most powerful principles available to anyone who takes the time to learn and apply. The bottom line is that our actions matter a great deal because they compound over time. Initially we may not see its effect; it is only in the long term that the differences are obvious.
1) Compounding of money. Most of us we think linearly when the world is not linear. You know the example of the penny double every day for 30 days.
2) Compounding of relationships. Learn what it takes to grow and prosper in long term relationships. It takes commitment and hard work but the rewards are truly priceless.
3) Compounding of wisdom. Choose the hard life early on and life will get easier and easier. Applied knowledge compounds faster than money.
4) Compounding of friends. Discover the art and science of developing long term friendships. The compounding effect of partnerships is truly amazing.
5) Compounding of freedom. It is a lot harder to achieve it than to lose it.
6) Compounding of love. Discover the art and science of love. True love is a powerful force.
7) Compounding of faith. Compounded faith can truly move mountains. Out of all the above, this is the most important one. Eternity is a long time to be wrong. The entire list can be graphed and improved.
Will you share with others how you define wealth?
Be blessed and be a blessing to others
Carlos Fontana, President of Phalanx
Co-author of the book Follow to Lead (The 7 Principles to Being a Great Follower)
Author of the book PRICELESS (Sixty-Six Simple Stories of Reflection, Love, and Legacy)