If you are born poor it’s not your mistake, if you die poor it’s your mistake – Bill Gates
Wealth is a by-product of our mindset. While many individuals have the privilege of attaining wealth through inheritance, most others generally make it through efforts and smart strategies. Quite often it is perceived in terms of dollar value. However, wealth as such is considered to be of possessing material items that include movable and immovable assets.
To generate wealth first-of-all it is important to analyse our perception and mindset towards it.
THERE ARE TWO MAJOR HURDLES that affect our mindset towards wealth generation. They are:
- Lack of self-worth
- Guilt
How much we value our self can reflect on our wealth status. Those who struggle with lack of self-worth may find it difficult to work on new initiatives towards financial well-being. Therefore it is important to work on our self-worth, self-value and self-confidence to become financially successful.
Guilt is an important mindset hurdle and is closely related to one’s belief system. Culturally, it is quite common for people to see wealth as an evil thing. We have all heard this common saying that money is the root cause of all evil but in reality, it is our attitude towards it.
An example is a knife – when used by a surgeon can save someone’s life but can kill someone if it ends-up in the hands of a criminal. Wealth can be used as a powerful tool to positively change peoples lives.
Lack of wealth can sometimes be running in families due to genetic patterning. Personal development and positive psychology are useful tools that can help to break this chain of negative belief system carried towards wealth and abundance.
Health is wealth and is a great investment. People often spend years towards building their wealth but don’t spend enough time towards self-care, health, and well-being. Repetitive and ongoing health issues are major reasons that affect our productivity, gets us out of focus and blocks wealth generation.
Often times, if we are not conscious about our health we end up losing money on hospitalisations and medical expenses. Therefore, it is a good practice to strike a good work-life balance, exercise, do fun activities and enjoy life to the fullest.
Spiritual practices such as meditation, mindfulness, breathing exercises, yoga, etc have the ability to bring peace, inner balance, clarity, and positive emotions. These tools will eventually lead us to develop a strong and positive mindset and ultimately helps with making the right choices when it comes to building wealth.
While creating wealth requires hard work, maintenance of it is an art.
An important tool to keep the wealth going is to have a deep appreciation towards its value. Many times people who create wealth lose it or give away due to complacency and devaluing it.
Wealth can be a powerful trigger of human ego. Therefore, it is vital to stay grounded and not indulge in frivolous activities that may otherwise lead one to lose it. When we lose something, it is important to build resilience. Resilience is the capacity to recover quickly from challenges and difficulties that happened to us. It also refers to the idea of building our inner core strength. For some people building resilience comes easily while for others they may require seeking professional advice.
Moreover, creating the habit of positive thinking will assist to develop a positive outlook towards everything in life. Often when life challenges hit us, we tend to give up, blame ourselves and others, try to sweep our issues under the rug, don’t seek help and overall become a bit negative. We need to realise that challenges are presented to us for our own growth.
Wealth creation can be a done as a joyful process. This can be achieved by developing a sense of detachment towards the whole thing. Practicing conscious detachment will help us to stay away from unnecessary stress and anxiety that comes as a part of generating wealth.
This article was provided by Dr. Sathiya Ramakrishnan, a Harvard trained scientist turned coach. He provides coaching & consulting services for executives, business owners, and entrepreneurs. He is a keynote speaker and conducts seminars & workshops in the areas of leadership, peak performance and mindfulness. He holds a Ph.D. degree in Biomedical Sciences from the University of Queensland, Australia and has undertaken research fellowships in the topics of Metabolic disease and Neuroscience at Harvard Medical School, USA.
He can be reached via telephone at 0421454209 or Linkedin: https://au.linkedin.com/in/sathiyaramakrishnan
