Short post today. It’s January 1, 2013 and the talk of resolutions is thick. I don’t hold much stock in New Years Resolutions, but I do value an attitude that embraces change in the way we approach things. I was working on the Family Wealth website today and realized there is a very small but very huge difference in two terms. Small in the fact that there is very little difference in effort needed, but huge in the mindset necessary to change from one to the other. This is the difference between wage earning and wealth building.
The two require similar amounts of work. Think about it, does someone with great wealth have any more hours in the day? No! In fact most of the wealthy I know actually work less than the average wage earner. So the amount of work is essentially the same.
The big difference is in the mindset. Wealth building requires the mindset that “I’m building a future for myself and my family” rather than “I’m earning a paycheck for my self and my family”.
One mindset will get you to Friday. The other one will get you to future generations.