Learning to Manage Money

Are You Even Playing The Wealth Accumulation Game?

Lately, I see and hear people complaining about not having enough money or even jealous of me because I have more money saved than they do. I have to wonder if they are even playing the wealth accumulation game?

Case in point, one such person is my buddy that makes about 20k more than I make (okay, that makes me giggle a little.).  He’s making more than I make, so wouldn’t you think he’s have more saved then me?  Afterall we live is a similar area, work at the same company and even occasionally do lunch together…  We aren’t even close!  I estimate that I have about 10 times more wealth than he has.  Literally, he and I are not playing the same wealth accumulation game.

So what do I mean by “Are You Even Playing the Wealth Accumulation Game”?

Well, in a nutshell, the Wealth Accumulation Game is the strategy that you use to increase your net worth.  You see, most people aren’t playing or even acknowledge that there is a game going on.  They don’t have the focus and thought process around the game.  You see the wealth accumulation game for me is like a long drawn out game of financial chess.  One that last years, no decades, no even longer than decades…, really it lasts a lifetime, and perhaps even longer than that if you are planning on leaving an inheritance.

Most people have no idea where their money goes after they earn it.  Many complain about their significant other spending patterns and unfortunately they don’t take into account their own expenditures.  If you don’t know what happens to your money after you earn it, how do you expect to grow wealth?

So is there rules to the Wealth Accumulation Game?

No, although I would highly recommend in only pursuing legal means in your pursuit of wealth, but other than keeping it legal, I don’t recognize and “true” rules.  In addition to keeping things legal, I’m aware of others in my pursuits.

For instance, instead of working 1 job, work a 2nd or 3rd part-time job and invest the earnings in ETF.  If you are an entrepreneur at heart try to start a side business of some sort.  Like monopoly there is always the option of “cheap” property too.

Be creative, but most importantly try to grow your assets.  if you don’t try to grow assets, it’s practically impossible to get wealthy.

I think there are two critical stages with the wealth accumulation game

  1. Believe it’s possible to be wealth
  2. Try to be wealth, just don’t procrastinate and worry about it…  Go out and do it!

That’s all there is to it!

Rich

 

 

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