Wanna be rich First, discover your why

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    Money can make life easier in many ways, and when you are rich you can take your life to the next level. However, if you are clear about why you want to be rich, you can avoid making money mistakes upfront.

    Ramit Sethi

    Man writing in a notebook

    I wrote my NYT bestselling book, I Will Teach You To Be Rich, to help people live rich lives. But sometimes it gets me a bad reputation for teaching people how to get rich. I was told, “You just want to make money.” Or “Money is not everything.” And these people have a point. But actually I’d rather be asked WHY I teach people to be rich. Because being rich is not only about amassing large amounts of money, but also about what you want your life to be like.

    When thinking about your financial future, it is important to ask yourself: Why do I want to be rich?

    Take a second and think about it.

    Do you want to have a luxurious lifestyle? Do you want to travel Eat in nice restaurants? To get rid of your 9-5 job?

    I think it’s really important to think about it consciously Why you want to be rich. If you don’t, it’s easy to get into a race to make more and more money without ever knowing why. What are you working towards?

    Bonus: After you have figured out why you want to get rich, follow this step-by-step guide to get there. Download my FREE Ultimate Guide to Making Money

    Find your why

    Here is a simple exercise you can do right now to find out why you want to make more money. “I just want to be rich” is not a good answer here. Receive Really specific about what you want, why you want it and how you plan to get there.

    Set actionable wealth goals

    1. Take an hour to grab a notebook and pen.
    2. Write down your long-term and short-term monetary goals.
    3. Notice any topics that come up – do you focus on any number (“I want to make a million dollars”) or do your goals reflect a larger purpose (“I want to travel internationally every year”)? These larger goals form the basis of your “why”.
    4. Next, take a look at your calendar – do you actively spend time working on your most important goals every day?
    5. If not, adjust your schedule to include activities that can help you meet your financial goals.

    This is easy to say and harder to do, so I’ve followed my own advice below. And hopefully I can use these things to explain why I teach people to be rich. It’s not just money – far from it.

    Why I wanted to get rich

    In one sentence: I never wanted to have to make a bad decision because of the money (e.g. staying in a job because of a job I don’t love because of car payments).

    Long-term goals to earn wealth (okay)::

    • Give my parents a retirement where they don’t have to work if they don’t want to
    • Comfortable, sometimes gaudy lifestyle (I love pens)
    • Make career decisions because I want to, not money
    • Keep in touch with my friends by seeing them in person often

    There it is: an online accountable list of goals why I teach and learn how to be rich. What if you made such a list and checked it every 6 months to see if you were getting closer to your goals?

    And when you’re ready to get seriously rich, download my free ultimate money making guide below.

    Bonus: Would you like to know how to make as much money as you want and live life on your terms? Download my FREE Ultimate Guide to Making Money

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