7 Principles for Building Your Wealth

What would it feel like if you woke up each day feeling confident building your wealth? Instead of starting and ending each day worried or stressed about your finances, you can follow principles that will propel you forward to building real wealth within your life.

Responsibilities can overwhelm us and are a challenge to manage, which often requires building wealth on the back burner. Don’t despair; you can grow your wealth by having clear goals and being prepared.

Begin your journey by understanding why you want to have better finances. What will you do with more wealth? You can create a financial plan that works for you and your lifestyle. There is no need to worry if your current situation is not perfect.

You can change your approach as you learn more and your needs change. The objective is to make a simple and easy plan to follow, so you will feel good about your finances and confident in growing your wealth.

One strategy for building wealth is investing a portion of your money in the stock market. What is important is that you learn to develop an optimistic investment trading psychology. Develop consistent habits that will help you create a solid financial foundation. 

This approach will help increase your confidence and strengthen your belief that you can accumulate wealth now and for your future.  With more experience, you become more strategic about meeting your goals and will notice more opportunities.

Successful Investing

Growing your wealth by investing in the stock market takes discipline, a winning mindset, and managing your risk. Controlling loss is the key to be successful at investing. Small losses are the best losses.

When investing, you want to have guidelines that you are comfortable following since there are days when wide swings in stock prices occur, so you want to take the time to develop a written investment plan that includes an exit strategy.

By being prepared beforehand, you can handle the market fluctuation if it moves faster than expected and your investment goes against you. To learn more tips on investing in the comfort of your home, sign up for my free no cost masterclass, Stop Struggling Building Wealth.

When you have a risk management strategy to employ, you can increase your trading success. Prepare before you purchase the security by setting a price objective of how much you are willing for the investment to go against you before you take action. Doing this in advance creates a go-to plan where you will be ready to protect your capital.

Sometimes it’s a challenge not to make investment decisions when the market starts falling quicker and/or faster than expected. Do your best to continue following your investment plan. Below are seven principles that you can start doing now that will help you build your solid foundation for building wealth.

7 Principles For Building Your Wealth

1. Start as early as you can to invest. Investments grow significantly over time.  Invest 5-10% of your income in an investment account.  I’m here to support you if you need some guidance.
2. Streamline your finances by consolidating your different bank accounts. If you have several retirement accounts (like a 401k plan from a previous job), speak to your accountant to see if it’s OK to roll into an IRA account. Reducing paperwork and potential account fees makes it easier to trade.
3. Don’t invest money that you need for day-to-day living expenses. Doing so causes unnecessary excess stress and leads to poor decision-making.
4. Schedule time every day to develop a positive winning mindset. Speak to yourself with positive words.
5. Follow a simple written plan outlining small steps and use it to stay focused on attaining your goals. Be disciplined, patient, and consistent.
6. Keep track of your trading decisions.  Write down your successes and be willing to learn from your mistakes. Create a checklist of what works for you, and then follow your plan. To help you get in the habit, you can send yourself a reminder in an email message or write yourself a written note and keep it near when you trade.
7. Reward yourself with time off. Scheduled rest time will help you stay refreshed, keep you inspired, and moving in the direction of your dreams. Never stop dreaming.

Imagine your life filled with peace, prosperity, and happiness. Begin to make a few adjustments in your wealth habits and see new results. Why wait? Start today.

Bonnie
Coach, Consultant, and Author

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Bonnie S. Gortler

Bonnie Gortler, Consultant, Coach, and Author specializing in Wealth and Well-Being, is a successful stock market expert who has been instrumental in managing multi-million-dollar client portfolios within a top-rated investment firm during her over 35-year corporate career. As the author of “Journey to Wealth,” Bonnie has made it her mission to share the importance of risk management and how to enjoy real financial well-being by applying the technical and mental sides of investing. Bonnie has an M.B.A. and is a certified life coach. It is through her love of coaching, consulting, blogging, and social media that she creates change in the lives of many and inspires people from around the world. Bonnie is fully committed to your personal growth and development as she shares her winning spirit and powerful techniques with you. Visit BonnieGortler.com to gain tips and insights about investing, personal development, and inspiration through her articles on Wealth and Well-Being.
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