As I reflect on my journey from 11 years ago, I remember grappling with what to eat over the coming weeks. It was a challenging time, having unexpectedly lost my job a few weeks earlier—a story for another day.

With no income and little savings, my fridge, freezer, and cupboards were nearly empty. I was falling behind on bills, and my electricity was on the verge of being cut off. Fear loomed large. Would I go hungry? Would I be left without heat? The anxiety was overwhelming.

If I had only understood then what I do now, I wouldn’t have panicked as much. Although times were tough, I now realize that everything would eventually be alright. The problem was my mindset—I was fixated on my financial scarcity.

Instead of questioning how I ended up in that predicament, I should have been pondering, “What steps can I take to prevent this from happening again?” The challenge wasn’t merely about job loss or financial hardship; it went deeper.

Fast forward to today, and I can share what I’ve learned. I survived those frightening weeks; I didn’t starve or freeze. The experience taught me invaluable lessons. Here are the core issues I faced back then:

1. I relied on a single income source.
2. I had accumulated no savings.
3. I lacked knowledge on wealth creation.
4. I was focused solely on the present and ignored future planning.
5. I failed to learn from past experiences.

> “The person who doesn’t know where his next dollar is coming from usually doesn’t know where his last dollar went.” — Unknown

It would be nice to say I figured things out immediately, but the truth is, it took years of struggle. Yet, every challenge was worth it. The greater the struggle, the more valuable the lesson. I learned the importance of developing multiple income streams, but my understanding at that time was limited, leading me to make mistakes.

Gradually, I began to grasp the right mindset regarding wealth and finances, but I still had much to learn, resulting in wasted time. The good news? There's a relatively short time frame required to begin creating wealth if you know what you're doing.

Like many who face financial difficulties, I lacked a solid plan. Without a plan, I was susceptible to various pitfalls, such as:

• Investing time and energy into ineffective websites.
• Spending money on products that wouldn’t sell.
• Falling victim to online scams.
• Engaging with deceptive marketing tactics.
• Being distracted by trendy but unproductive ventures.

Over the next few years, I tried all these approaches and continued to feel miserable, realizing that the journey itself could be just as rewarding as attaining wealth. I checked off paths that didn’t work, yet each misstep taught me valuable lessons, keeping me on the lookout for the right avenues to wealth.

Wealth creation isn’t a straightforward six-lane highway. If it were, everyone would be financially thriving. Instead, it resembles a network of highways, some leading to success and others leading away from it. The critical task is identifying the profitable paths.

Once I slowed down and began strategizing rather than acting impulsively, I experienced a breakthrough—like deciphering a treasure map. Without a guide, I had no hope of discovering my treasure, but with one, I could navigate toward success.

What was my treasure map? It seems obvious now, but at the time, I was blinded by greed. To succeed, I had to shift my mentality significantly, starting with how I viewed the world and money.

> “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” — Abraham Lincoln

I realized I had been operating under a flawed perspective regarding money:

1. Money is finite.
2. Money is difficult to acquire.
3. Wealth is best gained through a traditional job.
4. The system is rigged against me.
5. My skills should naturally lead to wealth.
6. Luck is essential for success.

At that point, I believed my only chance at wealth was through luck, akin to winning the lottery. This led me to invest in ventures with negligible chances of success, akin to playing a lottery with odds of one in 500 million.

Determined to change my approach, I studied the habits and methods of wealthy individuals. Could they all be lucky? Were they born into wealth? Perhaps jealousy had clouded my judgment, preventing me from exploring how the affluent truly made their fortunes.

A common misconception among those struggling financially is viewing the wealthy as simply lucky, believing they were handed their success. While some may fit that mold, many wealthy individuals worked tirelessly to achieve their status.

Once I set aside my envy for the successful, I began examining the paths of those who built their fortunes from humble beginnings. I discovered numerous shared traits among these successful individuals:

1. They refrain from complaining.
2. They minimize their losses.
3. They plan strategically.
4. They continually refine their plans.
5. They view failure as a lesson rather than defeat.
6. They read daily.
7. They actively seek innovative ways to generate income.
8. They improve upon others’ ideas.
9. They prioritize their mental and physical well-being.
10. They embrace lifelong learning.

This list is not exhaustive, but it highlights the most crucial qualities in my view. These attributes won’t automatically make you rich, but they can help shift your mindset and enhance your understanding of money and value—an investment in itself.

To recap:

1. Focusing on a lack of money is a detrimental mindset.
2. Relying on a single income stream is risky; diversifying is essential.
3. There are many pathways to wealth creation.
4. A lack of a financial plan guarantees a lack of money.
5. Learn from those who have succeeded and emulate their strategies.
6. The journey can be as fulfilling as the end goal.

Now, let’s discuss what’s currently working for me. I hope you’ve found valuable insights in this narrative. Here are some effective avenues I’ve discovered for wealth generation, which work best when combined:

1. Writing on Medium: This is a worthwhile investment in your future. If you persevere, you can excel, potentially reaping financial rewards and personal fulfillment.
2. Selling Digital Products: This is straightforward; you’re already knowledgeable in something. Create a helpful digital book and distribute it for free. Once you build an audience, you can start selling more books.
3. Investing in Real Estate: I’m launching my own real estate investment business in early 2024. With prior rental experience, I keep an eye on potential investments. Platforms like Fundrise and Landa allow you to start small with minimal risk.
4. Investing in Stocks: This approach carries short-term volatility but has historically trended upward. My strategy aligns with Warren Buffet’s; I assess whether I’d want to own a company long-term before investing.
5. Investing in Crypto: This is the riskiest option, with extreme volatility. Despite my significant gains, I’ve also faced losses. If you choose to invest in crypto, remember three key points: educate yourself about the industry, focus on top-tier coins, and consider consulting with a reputable advisor, like Weiss Ratings.

I encourage you to find the right strategy for yourself. Success for me doesn’t guarantee it will work for you. Take your time; don’t rush into everything at once. Choose one avenue, conduct thorough research, and develop a plan.

Before embarking on your journey, reassess your strategy. Consider the likelihood of success, why you chose this path, who can support you, and how you’ll navigate both obstacles and achievements.

As I conclude, remember that wealth transcends mere money and possessions. Reflect on what truly constitutes a wealthy lifestyle for you.