If you want to be rich, you need to decide to be rich

Let’s pretend for a minute you want to become rich.

The first thing you need to do is decide to be rich.

That’s right. You need to decide you are capable, worthy and smart enough to attain the financial status you desire.

Believing in oneself is the first critical step toward accomplishing any goal, including achieving wealth.

Decide that you will be rich, and begin working toward your goal.

Wishing doesn’t produce results, but doing does. So, be a doer, not a wisher.

What it means to be rich

Let’s review the definition of rich as well as several key components to being rich, which are not included in your traditional definition.

The word rich is an adjective. Its definition is: having wealth or great possessions; abundantly supplied with resources, means or funds; or of great value or worth.

The word rich means many things to many people, but often it is misconstrued as merely having lots of money.

From my perspective, wealth is not the most important characteristic of being rich. I believe that Mahatma Gandhi got it right when he said, “It is health that is real wealth and not pieces of gold and silver.”

If you don’t have your health, you don’t have much.

No matter what your religion, age, race or gender are, your life has an expiration date.

I think people should get the most out of life and enjoy it.

If you have a solid investment process and/or work with a trusted financial adviser, a few percentage points of portfolio returns here or there probably will not alter your lifestyle significantly in the long run.