I too want to be rich. Who doesn’t? Being wealthy would remove worries from my life, insure my family will be OK in tough times and that my children will be able to go to school and get an education without developing debt. Also, I could spend more time with my family and enjoy life instead of just living it. What have I done to be rich? About the same as most. I have looked for ‘get rich quick’ schemes. I have invested in penny stocks that promise a big windfall but never deliver. I have thought about being a professional gambler, even tried to play online for awhile. My intentions of being wealthy are the same as those that are wealthy but I do not seem to be on that road.

I’m an intelligent guy and as such I often spend introspective time. This is something I want to post about one day, but I often look at my life as if I were not myself. I try to get an objective view of myself and see if I am doing something that doesn’t make sense, is spot on, or is just plain nutty. So, I did this technique about my financial plan. I ranked solidly on the nutty side.

I went to the drawing board. I first decided to not make another investment until I had researched the subject. I realized quickly that my idea of money was just plain wrong. I am not entitled to be rich. I am not deserving of a 52 inch plasma screen TV. I am not needing an expensive bottle of wine every week. What I need to do is save that money instead of spending on things I simply do not need. Once saved, let compound interest take over. Afraid of a vilotile market? Throw it in a savings account and earn a guaranteed 3%. I need to stop thinking about that one big windfall and start thinking about those dimes and nickles adding up to dollars.

That’s great for saving money, but what about making it? It’s absolutely true that the ways to be rich require a higher level of income than expenses. The higher the ratio the more you will make and the faster you will be rich. Ok, great, so how do your level of income? I’ve posted before about education and how it’s not the way to go for this goal. Sure, if you want to be a doctor or lawyer it’s required, but absolutely not if you want to be rich. The key is to treat your life as if it were a company. A company wants to increase revenue streams while decreasing it’s expense reports. Of course, companies can borrow against banks, go into debt and try several methods to increase revenue. A person should not do that. But what can they do?

For most, it is very difficult. What you need to do is find a passion, determine if it can turn into a revenue stream, learn all you can about how to turn it into a revenue stream and attack that avenue. Like to write? Start a blog! Interested in stocks? Do some research! Sites like http://themarketguys.com/ offer tutorials into how to trade effectively. Sites like http://www.stevepavlina.com/blog/2006/05/how-to-make-money-from-your-blog/ offer good suggestions for making money at blogging.

The key is to remember that little steps over time are big ones. Don’t look for that one big windfall. Look for lots and lots of little ones that will add up. That is the plan I am going with.

I will continue to post on this theme and topic and to see how well I’m doing at it. Lets see!