The ABUNDANCE Loop

WRITTEN by Michael Corthell

Several years ago, a single mother of very modest means won over $10 million in the lottery.

Immediately she started spending her money on designer clothes, luxury cars, big houses, and very expensive vacations.

In just under 10 years she had spent it all, every last cent, and was essentially poor.

This woman's story teaches us that wealth is not about money, but about mindset.

A positive person with an abundance mindset with only $100 to their name is much better off than a scarcity-minded individual with $10 million to their name.

All you have to remember after reading this article, is that building wealth has nothing to do with money, it has everything to do with your positive, abundance mindset.

You always wanted to know...How to Get 'Rich'? Here's how in black and white:

The Wealthy are avid readers.

Read, read, read. Read everything.

— William Faulkner

It's all about shared knowledge.

Warren Buffett, one of the world’s greatest investor sof all time (worth approximately $85 billion), was once asked about the key to success, he responded by pointing to a stack of books and saying: 

Read 500 pages like this every day. That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.

He is not alone.

Mark Cuban (worth $5 billion) says he reads three hours a day.

Bill Gates (worth $94 billion) reads over 50 books a year.

Elon Musk (worth $17 billion) said he learned to build space vehicles by reading books.

If you want to become rich, you need to be reading books about how to become rich, not Googling 'fast, easy ways to make money'.

You become rich by increasing your knowledge base in these areas: business, money, salesmanship and marketing.  You can only do this by reading.

The Wealthy are persistent and resourceful.

He that is good for making excuses is seldom good for anything else.

— Benjamin Franklin

Wealthy people are persistent and resourceful, they always figure out a way to succeed and make more money, regardless of any circumstance.

When the wealthy are dealt a bad hand, they don’t blame the dealer, they don't complain and just figure out a way to win.

In the words of Theodore Roosevelt, Do what you can, with what you have, where you are.

If you want to be successful, face every one of life's challenges with those words in mind.

The Wealthy don't save, they invest.

How many millionaires do you know who have become wealthy by investing in a savings account? I rest my case.

— Robert G. Allen

The idea of wise and prudent investing is practiced by all wealthy people and has been done so for centuries. 

If a person saves $1,000 a month for the next 50 years they will have $600,000. BUT if they invest $1,000 a month for the next 50 years in a fund that offered them a 7% return, in 50 years they would have nearly $4.9 million.

That is the difference between saving and investing. 

Albert Einstein was right when he said, Compound interest is the eighth wonder of the world.

The Wealthy believe in positive energy and the value of people

Recognize the fortunate so that you may choose their company, and the unfortunate so that you may avoid them… do not die of another’s misery.

— Robert Greene

Simply 'birds of a feather, flock together'.

Hanging around weak, negative people will only rub off on you. Love the negative minded, but keep your distance. You can help but insulate yourself from their mindsets.

The Wealthy live with big expectations, they set clear and defined goals

You’ve got to be careful if you don’t know where you are going, ’cause you might not get there.

— Yogi Berra

When the lost Alice happened upon The Cheshire Cat, she asked for directions, Would you tell me, please, which way I ought to go from here?

The Cheshire Cat answered Alice with a toothy smile, That depends a good deal on where you want to get to.

In life you had better know where you want to end up, because that's the only way to get there.

Let me ask you a few questions… How much money do you want to save this year? How much debt are you wanting to pay off this year? How much money do you want to be worth in 10 years?

Chances are, you haven’t thought about any of these questions. Humans have a bad habit of falling into a day to day routine where we subconsciously begin to go through the motions… and because of this we don’t feel like we are going anywhere.

If you want to be wealthy, don't say 'I want to be wealthy!.

If you want to be wealthy, set the exact amount of money as a goal, and then plan how you are going to get there.

The Wealthy learn from other people's mistakes

After you burn your mouth on hot coffee you wait for it to cool.

— Old Starbucks Proverb

This may be overused Never make the same mistake twice but it is true. Mistake use up time and resources. 

Fools make the same mistakes over and over again. Wise people make a mistake only once. The enduringly Wealthy are wise and learn from other people's mistakes.

Quite a few people will say making mistakes is the only way to put yourself in a position to one day succeed, which may be true — just don’t make a costly mistake.

Again, building wealth has nothing to do with money, it has everything to do with your positive, abundance mindset.

Finally, the best part just might be, that as you build an authentic and sincere abundance mindset, you will find that your positive outlook will wash over and influence all the people around you.

William James said, The greatest discovery of my generation is that a human being can alter his life by altering his attitudes of mind.

Your mindset is your biggest asset!

____________________

Create an Abundance Mindset 

by Scott Epp

Overcoming a scarcity mindset is possible by creating an abundance mindset. Abundance is believing that, You are more than enough, you have more than enough and more than enough is coming to you in the future.