Financial abundance is the result of hard work, financial knowledge, and expert guidance. As part of investing in yourself and your wealth this year, it is also essential to cultivate a mindset of financial abundance – one geared to making the most of your wealth, today and into the future.
When we speak of a mindset, we are not talking about an airy-fairy concept (like ‘think rich and you’ll be rich)’ but rather of taking up the practice of considering your wealth through a series of actions and mindful decisions that will lead to opportunities for greater wealth.
Ways to think abundantly about your wealth
1. Give up self-limiting beliefs
Think you’re not smart enough to engage in an investment strategy? Worried that you don’t have the ability or knowledge to manage your money effectively? Believe you’ve left things too late to be truly wealthy? Think again. Self-limiting beliefs lead to scarcity thinking and lack of action. For example, if you don’t think you can save, you probably won’t even try. Rather, replace self-limiting beliefs with strong statements and actions such as knowing and acting on the fact that everyone can learn more about investment and how it can work to increase your wealth.
2. Make planning a priority
Financial success and long-term financial stability don’t just happen. From your budget to your investment strategy, you need to plan how best to manage your wealth. And you need to think about and re-assess your financial status and goals on a regular basis. Your money needs direction and your mindset needs to be one of a financial mission, rather than a ‘what happens, happens’ approach.
3. Focus on the long-term
Too many people focus on what their money can bring them today – the material possessions they can enjoy with their latest pay check. While money is to be enjoyed, it can be employed to much greater (and ultimately more valuable) ends. Take the time to focus on the bigger picture – do you have a retirement portfolio? An emergency plan? An investment strategy? True financial abundance comes from having a balanced wealth management plan to build on and that’s where your financial focus should lie first.
4. Think personal, not relative
When it comes to successful wealth protection and creation, there is no one winning formula. Your money should be personal to you and your unique situation and your wealth plan should be tailored to your financial needs, rather than being a cookie cutter version of what it could be. This understanding of money as personal requires a mind shift away from comparison – stop comparing yourself to your family members and colleagues. Financial plans need to align with your own situation and needs and not be made in relation to others.
5. Decide to get the help you need
Life is full and you might find yourself pressed for time, focused on the daily tasks you must complete. This can lead to the most important decisions about your wealth being left for tomorrow and tomorrow and tomorrow. Want to know that your wealth is being managed effectively and expertly? Seek out the services of a reputable independent financial adviser and work with them to establish a wealth management plan that fits into your lifestyle, is geared towards your goals, and offers you peace of mind.
When it comes to making the most of your wealth, it is essential to surround yourself with successfully minded and experienced individuals. Looking to work with experts in wealth management? At TRG, we can help you put in place a wealth plan that covers all your financial goals, from insurance to investment management, as well as help you cultivate a healthy and evolving relationship with your money.