5 Vital Pieces for Your Wealth Creation Foundation

Wealth Creation Foundation

I’m going to be creating a series on ways to increase/create/build your wealth, but I want to make sure you have a full understanding for the foundation of wealth. We don’t want to just jump into building wealth when we don’t have a foundation for it. You know the saying, something like, the house that was built on sand got washed away. We don’t want that to happen to us. PS – if you don’t feel like your finances are quite in order to start creating wealth, like not knowing how much you can start investing or don’t know what your current expenses are, check out my Budgeting Bootcamp Course here, to get you ready for your wealth creation!

There’s 5 vital pieces of our wealth creation foundation. (There’s actually more we could add to this, but let’s keep it simple today.)

1.Know What You Want Regarding Wealth

The first piece of building wealth is to actually know what you want. To say, “I want to be wealthy,’ means a lot of different things to different people. It could mean having a ton of properties or owning your own island or just not having to worry about being able to pay the bills or it could mean being able to spend time with people you love. It’s just too generic of statement, so I need you to be specific and visualize what being wealthy looks like to you. Wealth includes not only the financial aspect, but other parts of your life as well, such as social, physical, mental and spiritual.

Come up with a scenario of the day in the life you when you’ve achieved what you wanted. Do you come home to your gorgeous immaculate home with large bay windows overlooking the valley? Is your husband there? Are there little kids running around? Do you have a BMW parked in the garage? Do you feel stress free because you know you are building your wealth through your investment properties? Do you have your own successful business? Do you have a chef that’s made breakfast for you?

Know what you want your life to look like, feel it, imagine it, visualize it. Be specific, put details in there. I know I’ll have a little red-head running around. 🙂

2.Know Why You Want Wealth

Why do you want to create wealth? There’s lots of different reasons for desiring to have wealth. What are your reasons? I don’t want to hear, just because life would be easier. I want it specific again. I want to be able to take care of my family without constantly worrying about if there’s enough money coming in. I want be able to spend time with my family. I want to be able to give even more to my church. I want to create a free tutoring program in my neighborhood.

What are you reasons? Knowing your reasons will keep you motivated to build your wealth. If you just say, because I want more money, it won’t be enough motivation.

Think of what you will do when you create your desired wealth. Keep these things in mind as you continue to build and create your wealth so you can continue to move forward.

3. Set Your Wealth Creation Goals

Time to set some wealth creation goals! We know what we want our life to look like, we know why we want it, now let’s get there!

Set SMART goals. Just a recap, SMART stands for: specific, measurable, attainable, realistic and time bound. Let’s set our first goal. In order to create the life you want, what will you need to get it? Will you need to be making a $100,000 this year? A million? Set a SMART goal to reach in one year from today. Don’t hold yourself back either. We want it to be somewhat of a stretch (or a lot of a stretch, let’s go for it!).

What is you want to reach within a year’s time? Is it to make $100,000? Maybe it’s to purchase your first home. Or pay off your car. Or take your dream vacation to Bora Bora. Whatever it is, write it down.

Next, create sub-goals to reach that goal. Let’s say our goal is to make $100k. Make another goal to make $50,000 in 6 months. Another to make $25,000 in 3 months. Keep breaking it down into smaller, smaller and smaller chunks of time. Let’s set our goal to make $1,200 this week. Now we have a short timeframe goal that we can put action toward it today. Let’s think of some ways I could create $1,200 this week. I could sell something I don’t need anymore. I could pick up an extra shift at work.

We want to pick something we can focus on TODAY to start working toward our large goal. That is actually how goals are achieved. It’s through our daily actions, it doesn’t happen magically overnight (if only that were how it worked…), so always break down your goals into action steps you can take today.

It could simply be to start learning how to create your own online business. You could break that down into, researching, ‘how to start an online business,’ for one hour tonight.

Hopefully this is making sense. To give you an example of who else uses this system, about a week ago, I went to a presentation by Brandon Staton about how he started the website, Humans of New York. He mentioned that Humans of New York wouldn’t be what it was today if he didn’t start with the first step and continue to take action everyday. It wasn’t easy, it was hard work, but that’s what making our dreams come true is – it’s hard work. Some days will be easier than others, but we need to put the effort in and take action everyday.

4. Know You Can Achieve Your Desired Wealth

Setting goals like these sometimes seems impossible and that we’ll never get there. Well, just stop it. It is possible! While taking action, we’ll need to adjust our mindset to believe we can achieve our goals.

Have a positive wealth creation mindset. If you start thinking a negative thought, immediately flip it around and come up with the positive version of that thought.

“What the mind can conceive, the mind can achieve.” -Napoleon Hill

If we think we can’t then it’s a guarantee we won’t. So keep a positive mindset even when things may not be going your way. There is still a way, it’s just different than you originally thought.

Here’s one of my favorite wealth affirmations to say, “I have a wealthy life I absolutely love.”


Create your own wealth affirmation that will help you overcome negative thoughts. Make it something you truly believe. Maybe, “I have a wealthy life I absolutely love,” is too far of a stretch right now. It could be something like, “I know the actions to take to create a wealthy life.”

Come up with something you love, it can be short or long, whatever works for you!

5. Know Your Options for Achieving Your Desired Wealth

Woohoo! We’ve visualized exactly what we want. We know why we want it. We’ve set our goals to achieve it. We believe we can achieve our wealth. Now, we need to know our options for achieving the wealth.

There’s lots of different options we can take, so be in tune with what your intuition is telling you. It could be as simple as to ask for a raise at work. Or stop wasting money on all those clothes you don’t really need (I know, ‘but they are so cute and they were all on sale Tiff, it was so much fun buying them’ — just stop. Remember what we visualized above. What you really want your life to look like. Will you get there by buying all these clothes right now?? I don’t think so. Time to stop, pum’kin. As my coach always says, ‘said with love, of course.’)

There’s also some other ways to invest you may like more information on handling, so let’s go over three of those.

Paper Assets
Paper asset investing includes your 401k, Roth IRA, individual stocks, ETFs, index funds, bonds and more.

Real Estate
Real estate investing would include your own home and/or rental properties.

Investing in yourself would include your own business, your habits, mindset, plus more.

I’m super excited to be going over these three options for creating wealth, so stay tuned for the step by step processes to help make it easier for you to invest in these three categories.

While you are thinking about which options you might like to go with, remember to go with what fits your lifestyle. I personally use all three options and am completely happy with my choices. If I was someone that moved a lot and can’t stay in one spot for too long, maybe real estate wouldn’t be the best option for me. Take into consideration what works for you. Of course, if you want to adjust your lifestyle to help you grow your wealth in all three areas, that is definitely an option! It’s your wealth creation plan, no one else’s, so make it what you want and adjust along the way. But let’s get started now!!


Alright for today’s post, here’s the action steps I want you to take:

1.Figure out what you want your life to look like when you do achieve your desired wealth. Visualize it in your mind. You can also write it down and review it often.

2.Figure out your motivating factors for creating your desired wealth. Write them down and review them when you feel stuck or like it’s not working.

3.Set one SMART goal to be achieved within a year then break it down to smaller goals so you know what you can start working on today to get you to your goal!! Today!!

4.Choose one daily positive wealth affirmation you can repeat to yourself when you start to think negatively.

5.Review investing options and decide what you think would work best for you to start building your wealth.

Share in the comments below what action you are taking today to put you on the path of wealth creation!

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