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Setting Goals For Wealth Creation

Dec 7, 2007
The right mindset and attitude is essential to money making success. Without it, wealth creation will remain an elusive ideal, an unattainable dream. Developing a great wealth creation mindset starts with acknowledging your dreams for financial wealth; and that starts with identifying exactly where it is you want your efforts at creating wealth to take you.

Why Do You Need To Set Goals For Financial Wealth?

The most direct path to anything in life is one with a clear end-goal. This is especially true on the path to wealth creation. After all, if you haven't identified what success is, how will you know when you get there?

Goal-setting is critical to wealth creation. A clear set of financial goals will

- Help you set a course and schedule for wealth creation

- Help you tailor your financial course to meet your expectations for making money

- Help you track your progress towards financial wealth

- Let you recognize when your efforts to create wealth have been successful (tell you when you've arrived!)

Bringing Dreams Of Wealth To Life

The first step in establishing your goals for success in wealth creation is self-evaluation. You have to know where you are, what is most important to you, and what it will take to make you feel successful in wealth creation.

-Determine how much money you need to make to meet your monthly expenses

-Determine what is most important to you in regards to wealth creation; what do you want to establish first,financial protection, security, independence? Financial freedom?

-Determine the economic goals that will allow you to live an easier, more stress-free financial life; can you breathe easier if you reduce debt? Have cash on hand? Have a big net worth?

-Determine what you'll need to make money for in the future that you do not immediately pay for now; children's weddings, retirement, education

-Brainstorm the things you really want and be selfish! This is your life, your work; you should aim for the things that will really make you happy!

-Set a schedule for wealth creation by determining when you want the money you desire, when you the need the money to pay for life expenses and meet investment goals, and when you want to achieve ultimate financial freedom.

Do You Really Know What Your Financial Picture Looks like?

Jamie McIntyre, wealth creation expert, self-made millionaire, and author of What I Didn't Learn At School But Wish I Had, guides his readers through an interesting exercise in his book. Realizing that few people have an accurate picture of their financial status, he asks his readers to submit to a simple test before they even start setting their financial goals for wealth creation.

His readers are asked to make a guess, just off the top of their heads, at

-How much money it would take to be financially free
-How long it will take to make that amount of money

Jamie asks this because he has found that very few people can name a figure and time frame with much accuracy. Simply realizing this often serves as a call to action to 1) gain a better understanding of the overall financial picture, and 2) commit to the effort of creating wealth for financial security.

If, like the majority of people, you find yourself floundering for an answer for these questions, or you doubt that you could ever achieve financial freedom faced with the dollar-figure you need to get you there, it is time to set some wealth creation goals for yourself. Doubtless, you will not be able to achieve these financial goals without some guidance, but that is of little importance. There are many great programs for wealth creation out there. The fact that you are taking that first critical step to identify how much money you need and when you need it means that you are already on the path to financial success and wealth creation!
About the Author
Sean Rasmussen is a part time stock market investor and internet marketer. He is known online as a Wealth Creator and success communicator. He shares this information on his websites and blogs.
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