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This is true that being wealthy has been a dream for many of you, isn't it? Yes / No! But, pursuing for the same is like those forgotten dreams which were never fulfilled by pretending to be rich or some sorts of show-offs. Today, I am sharing this post to connect you with your deep desire to be rich, expand knowledge and strengthen your confidence to create wealth while taking charge of your financial future.
Some of you wanted to build assets right from childhood. Though by reaching at the mid age of life, you had get few opportunities whereas you couldn't do much due to almost zero level of skills to deal with inherited corruption in distribution of wealth and allocation of resources by the traditional system.
Many people believe that hard work with combination of a good job mean they can earn their way to a rich lifestyle. But going on this can't fetch you more than a standard living unless you follow the basic of wealth creations.
In Economics, wealth is a stock of assets that can generate future income and well-being. There are 4 different types of wealth -
1) Financial Wealth -
This is the prime thing to be considered for being rich. It includes all of your liquid assets (stocks / cash / bank balance / jewellery / durables / digital assets) and real estates you have in your control.
2) Social Wealth -
This is the total value of the resources that you have to meet your social or emotional needs. Social Wealth fairly depends on social capital which means resource for individuals, whereby you can access support and opportunities. In simple words, how many people you have in your contacts, who made your life comparatively better and stable then you could have done it alone in this world. Please remember, the emotionally unavailable or mentally sick person(s) around you may not directly count in your social capital.
3) Freedom -
Being free is the rarest thing in today's digital world. When you are pre-occupied or stressed then you can't consider yourself free. Similarly, if you are not available for things and people you love, then you are sold out. Time is not just money, time is a real wealth. There is popular saying - if you waste time now then time will waste your future.
4) Health -
You may often hear that, health is wealth. Physical including mental health is your wealth to be preserved at priority basis. Your eating habits determine almost 70% of your health. Due to lack of education and facilities, majority of people have not been okay on managing an adequate health status.
Why does wealth matter?
You may have different perception about it but if you are weak in any one of those four different types of wealth, you will certainly have tough times in achieving what you actually deserve in your life.
On the other hand asset-wise, how much wealth we have is often regarded as an important factor for determining our ranking and respectful position in society, but who holds it and how it is accumulated matters a lot for the economy.
Wealth Creation Strategies by Vegan Sudesh
In very simple terms creating wealth is about investing in yourself at first and taking appropriate risk led investments wherever or whenever required.
1. Invest in Yourself:
There is no bigger investment in your life then investment on your health & education. Having a focus on personal development during college time will help you significantly to increase your earning strength for the lifetime. After that, once you have achieved a high earning level, you may scale up investment on clean lifestyle.
2. Wealth-Oriented Mindset:
Having a positive approach in life can make you win almost everywhere. Surely, you have problems but don't make yourself another problem. Money can buy you solutions for almost everything but if you think money is evil, and the rich are devils then you will never end up someday being wealthy. You have to create positivity around to believe that you can also build wealth, and it is a good thing.
3. Risk & Relationship Management:
My simple advice to you is to stop making yourself a product or in other words stop trading yourself full time for money. There will never be a perfect tomorrow ever. If you’re looking to become wealthy, identify some affordable risks you can take today. Example: People known in this world for their great work. 'If you are a professional, then don’t make it a matter of your identity. Create a platform for other professionals so they create revenue round the clock for yourself.' Risk diversifying strategies will help you to sustain your relationship while playing up in greenfield. It is need to remember, no matter whatever you do for living, your pay cheque depends on value of your contribution in system decided by market forces rather than number of job hours.
4. Art of Self-Regulations:
Be your boss in life. If passive source of income is the transformer for creating wealth, then self-regulation is the gold standard for what keeps it running. Furthermore, if you can't administer yourself then you are lacking with an adequate level of determination, which is required to be wealthy to be in the first place. It may isolate you for some time but it’s to help you realize what’s really important to you and what isn’t when it comes to matter money and wealth. That's it.
To stay updated with my regular posts, plant based recipes and online sessions on lifestyle, follow me @vegansudesh at any of your favourite social media platforms.
Thank you.
Vegan Sudesh
Email: ask@sudesh.org
