GAZELLE MAGAZINE APRIL 2017 | Page 47

FAMILY & HOME

What ‘ Creating Wealth ’ Really Means

By Donald Broughton

The creation of wealth that will last a lifetime is dependent upon developing all aspects of your skills and discovering who you can be . In this column , I am always trying to outline ways to create wealth in all areas of your life , so that you not only have financial independence , but long-term sustainability . Financial wealth without intellectual wealth or spiritual wealth or emotional wealth or physical wealth , is a recipe for bankruptcy in all aspects of your life . So how do you get started ?

Set simple realistic goals for each part of your life and acknowledge that they are all interrelated . Success is not a destination , but a process . The instant you set worthy goals and start progressing toward them , you are a success . Others won ’ t recognize your success for months , years , or even decades , long after you are already successful .
Financial goals – “ Pay off your credit cards in full , and then continue to pay them off in full each month ” is a simple , easy goal that is at the base of every financially successful person . It can be painful at first , but it instills a simple level of discipline that is necessary . Debt , if properly used , can be an enriching experience , but for most people debt is just a four-letter word .
Spiritual goals – “ Believe in something or you will fall for anything ” is an axiom worth its weight . I believe Christ is the messiah , and that is the foundation of my spiritual wealth . But of the thousands and thousands of financially wealthy people I know , none of them sustain that wealth without something they believe in down to their very core . Find some time every day to meditate , pray , read about and study what you believe in . Once you begin to have any financial success , no matter how modest , start contributing a small amount of that wealth to what you believe in .
Emotional goals – “ In order to be trustworthy , you have to trust ” is true , but is often one of the most difficult dynamics of creating personal wealth . Make a list , and over the next week , reach out to those in your life whom you admire , but have lost touch with , and catch up . Meet someone new and get to know them . Whether at school , work or the gym , we all need to expand our network of friends . In short , take time to build new relationships and tend to old ones .
Intellectual goals – “ An investment in knowledge pays the best interest .” - Benjamin Franklin . Most people stagnate in the process of educating themselves after formal schooling ends . Find at least two wellwritten publications , subscribe and read them cover to cover each issue ( my favorites are “ The Economist ” and “ Atlantic Monthly ”). Sign up for a class once a year and learn a new skill . Keep growing your knowledge base and you ’ ll be better equipped to handle the growth in all areas of your life . As Nelson Mandela said , “ Education is the most powerful weapon with which you can use to change the world ,” and your life .
Physical goals – “ Without physical health , all the other goals fall short .” In the end , staying healthy is as easy as drinking plenty of water , eating more vegetables , getting plenty of fiber , eliminating processed foods from your diet , and exercising . Find the time to exercise in some way every day . Go on a walk , have sex , take the stairs instead of the elevator , walk up the escalator , park at the far end of the parking lot - whatever you do - stay active . Set physical goals and work toward them every day .
Why do we have to improve all these areas of our lives ? The tabloids are full of stories about people who have financial wealth , but no emotional wealth . We all know sports stars who are paid millions for a few years , but lack spiritual wealth . There are countless examples of entertainers whose talent produces millions , but that doesn ’ t overcome their lack of intellectual wealth . Creating wealth that is lasting involves enriching all parts of your life . Otherwise , whatever financial wealth you acquire will be quickly drained away by the deficits in the other parts of your life . So go set goals in each part of your life , and start creating wealth .
As chief market strategist , managing director and senior transportation analyst for Avondale Partners , Donald is a frequent guest on CNBC and Fox . He has been recognized as a top stock picker by The Wall Street Journal , “ Fortune ,” “ Zacks ” and “ StarMine .”
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