Puzzle Financial Advice Pty Ltd - Keys to becoming wealthy
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Why become wealthy?


It is useful to acquire adequate money because money gives you choices and options.

What are the keys to becoming wealthy?


I am sure that many people would say that the key to becoming wealth was to learn to be a good investor. And sure this can help, but it is far from the whole story. I would argue that the keys to becoming wealth are as follows:-
  • First and most important, you must decide that you want to become wealthy. Most people do not become wealthy by accident.
  • Second, you must decide that being wealthy is a very high priority in your life. Becoming wealthy must be one of your very top priorities.
  • Being wealthy, needs to be part of all major decisions you make in your life.

Those are the keys. After that, I am sure that there are many variants, but some things that can help are:-
  • Be clear about what is not important. Do not spend money on these things.
  • Spend less than you earn. Learn to save, and make it a regular habit.
  • It is important that you always have some funds in reserve “for a rainy day”.
  • Mix with people who also wish to become wealthy. You can learn from each other and can be a useful support network for each other.
  • Do not borrow to consume. A lot of people fail this test.
  • Looking for ways to increase you income can help, such as:-
    • learning skills that can help you to earn more money, from your labour,
    • starting your own business, or
    • learning how to become a good investor. However, you also need to recognise that learning to be a good investor is a life-long journey. You will never know it all.
  • Do not pay any more tax than you need to. This includes learning to use the superannuation system to your advantage.
  • Control the things you can control. Give yourself a buffer to help you survive the things you cannot control.



Remember that most people have a choice between being wealthy and looking as if they are wealthy. Which do you choose?



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"Eventually every stock can only be worth the value of the cash flow it is able to earn for the benefit of investors."
Benjamin Graham in “Security Analysis”.