Have a mature understanding of wealth and prosperity, because the one with the most toys usually loses.
This is the first, and arguably the most important, of the NAHREP 10 wealth disciplines. There is a reason this discipline was put first, and it may be the toughest of them all. However, mastering this discipline will offer you a strong foundation for building generational wealth.
Having a mature understanding of wealth and prosperity means having the proper mindset and valuing financial stability and wealth growth potential over material possessions. To master this discipline, we need to reevaluate how we define prosperity and spend our hard-earned money. True wealth and prosperity go beyond just having things. If today we used the money we spend on “toys” – things like jewelry, clothes, and cars which depreciate in value over time – and instead saved and invested it, that money would grow substantially over time.
Wealthy individuals understand that the secret to building wealth lies in consistently saving money and making wise investments, allowing it to work for them over time. Take advantage of things like compound interest and let your money work for you. That is how you build generational wealth.
Take the first step towards financial success by embracing this first discipline. Emphasize the importance of a mature understanding of wealth for a prosperous future.
Take steps today for a prosperous future.
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