It’s no secret that most of us want more money in our lives. And while you can’t wave a magic wand to become a money magnet, you can take some simple steps to attract wealth.
It might sound like an infomercial, but the truth is that even people who are currently struggling with their finances can grow richer by adopting the right habits and mindset.
“Just because you’ve had money issues doesn’t mean you can’t change,” said Michael Kay, a certified financial planner and author of “The Feel Rich Project: Reinventing Your Understanding of True Wealth to Find True Happiness.” You just have to be willing to change.
Here’s how you can become a money magnet — if you want it badly enough.
1. Understand Why You Want to Be Wealthy
Wanting to be rich isn’t enough. You have to understand why being rich is so important to you. “Sometimes people have ideas [about wealth] but not a solid thought behind it,” said Kay.
To increase your odds of achieving wealth, take time to think about your goals. Do you want to make a lot of money so you can own a big house, have a fancy car and take nice trips? Or do you hope to acquire wealth so you can retire early?
After you pinpoint exactly what being rich means to you, you can determine whether your goal is a realistic one given your current financial habits. For example, Kay said that, as a financial planner, he’s had people come to him saying they want $3 million by the time they retire.
“I say, ‘You have $27 in the bank. How do you see this happening?’” he said.