How To Achieve Wealth Goals ?
2 min read
Wealth is additive.That is to say,the crores are made of lakhs and the lakhs of thousands.And the systems that produce the thousands and the lakhs are the building blocks of the systems that produce the crores.
So if you would achieve the big wealth goals,remember one simple maxim: Don’t break the chain.
Here’s how Jerry Seinfeld uses the above maxim a wall calendar and a marker:
“For each day that I do my task of writing, I get to put a big red X over that day. After a few days, you’ll have a chain. Just keep at it and the chain will grow longer every day. You’ll like seeing that chain, especially when you get a few weeks under your belt. Your only job next is to not break the chain.”
Those consecutive Xs lead to momentum: the force that allows something , like motivation , to grow stronger or faster as time passes. Momentum, however, faces an equal and opposite force: friction. In science, friction means the resistance caused when one object moves at a different rate than another.In our everyday lives, friction means any one of an endless number of possible distractions: long meetings, cluttered inboxes, chatty colleagues, social media and more. Though we can’t eliminate those sources of friction entirely, it’s crucial to learn how to manage them. Because if you can’t manage friction, it will slow your momentum. But if you can, you position yourself to achieve your most ambitious business and career goals. And it all comes down to sustaining momentum.
Here is an example of how sustained momentum helped generate massive wealth:From age 32 to 44, Warren Buffett increased his net worth by 1,257 percent. In the next 12 years, he grew it by 7,268 percent. How did he achieve these extraordinary results? By leveraging an economic phenomenon known as the compound effect, whereby consistent, incremental changes result in fundamental changes over time.Beginning at age 32, Buffett started building a chain of investments and he never stopped. This sustained momentum created a compound effect, which for Buffett, yielded massive wealth.
