Brian Tracy outlines six exercises for financial independence: record ideas in a notebook, set goals with reflection time, visualize removing obstacles, project forward 3-5 years and work backward, use the 20-idea method for solutions, and save consistently. Investing $100 monthly at 10% from age 20 to 65 grows to about $1.1 million.
Six.
Approximately $1,118,000.
How to Start Thinking Like a Millionaire Whatever you can do or dream, you can begin it. Brian Tracy I think you'll agree when we say that everyone wants to know how to become a millionaire and get rich. Unfortunately, some people just don't know where to start. Would you be surprised to learn that you can get rich in your own way starting today? The following tips will help you visualize the road ahead of you and enable you to set goals to make more money than ever dreamed. Here are six exercises that will bring clarity to your life and help you figure out how to become a millionaire and achieve financial independence. First, start by writing down your ideas. Buy a spiral notebook, carry it with you if you can, and write down every idea that comes to you throughout the day. Review this idea Log on a regular basis. Sometimes one idea that you have while driving along, sitting, reading, watching television, or in a conversation may be the insight that will lead you to the start of your fortune. If your goal is to make more money, write down all of your ideas as to how you will achieve this goal. The rule is catch the idea and write it down. If you don't write it down fast enough, you will often lose it. Second, Goal Setting Relax and reflect on your financial goals. Take regular timeouts to relax and reflect on your goals and the obstacles that are holding you back from achieving them. During these times of relaxation, ideas will often pop into your mind that can save you hours, days, and sometimes years of hard work. Third, gain financial independence by using the magic wand technique. Practice the exercise of fantasizing on a regular basis. Brian Tracy calls this the Magic wand technique. Imagine that you have a magic wand and that you can wave it over your current situation or problem. Imagine that as a result of waving this magic wand, all the obstacles are removed from between you and your financial goals. Fourth, project forward and think back on your financial goals. Imagine that your goal is to build a successful business in a particular field. Project three to five years and imagine that you now have a successful business in that field. What would it look like? How big would it be? What kind of people would you be working with? What kind of reputation would you have in the marketplace? What would be your level of sales and profitability? How would you be running this business and especially what can you do, starting right now, to make this future dream a reality? Fifth, practice mindstorming on every problem. Perhaps the most powerful method of stimulating creative thinking is called mindstorming or the 20 idea method. More people have become wealthy, including Brian, by using this idea more than any other method of creative thinking ever discovered. In fact, this technique alone could enable you to gain financial independence. The method is simple. Take any problem or goal that you have and write it at the top of a sheet of paper in the form of a question. For example, if your goal is to double your income in the next 12 months, then you would write, how can I double my income over the next 12 months? You then discipline yourself to write at least 20 answers to that question. You can write more than 20 answers if you like, but you must use your discipline and willpower to write at least 20 answers. Sixth, save your money. One of the easiest ways would be if you were to save $100 per month from the time you started work at the age of 20 until the time you retire at age 65 and you invested that hundred dollars per month in a mutual fund that yielded you an average of 10%, you would be worth approximately $1,118,000 by the time you retired. Chances are, your discipline and your resolve to continue saving at any age year in and year out would have such an effect on your character and your personality that you would end up earning far more than 10. But at $100 per month, anyone can become a self made millionaire. Now it's time to take action. Focused questions stimulate your mind and provoke creativity. Decide on a goal and then ask yourself, why am I not at this goal already? What is the main reason? Start by practicing these exercises today to start on your path to getting rich. Now we'd love to hear from you. So our question today is what are you going to do today to start thinking like a millionaire? Leave a comment below and we'll be sure to follow up with thanks for watching. And as Brian Tracy says, if you want to change your future, take action and take action now.
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