Handling money is not an easy task. It is like a game. Those who master that game become the wealthiest in life. Many people do not have an idea about how to handle their wealth. There are different ways to manage it. So in this post, we have discussed the stages and levels of wealth management. Every level demands a different version of the approach.
Having good energy and original ideas is the best method to become wealthy.
What are the stages and levels of wealth management in life?
1. Stability
Human beings crave regularity and consistency. We don't work well in unstable environments, or, to be more precise, we don't believe we function well in conditions that are unbalanced. We operate well in unpredictable environments, but we still crave consistency.
The first phase of being wealthy is becoming stable. Becoming stable includes clearing all the commitments like debts, loans, and unpaid bills. There will not be any mood swings. An individual will be safe, secure, fulfilled, and complete.
2. Investment
It provides financial safety in the present and the future. The brain will become free from tensions when a person is stable because there will be no tension of funds shortage. Whatever he earns will remain with him. He can save parallelly and also he can invest.
It enables a person to increase his assets while also generating some returns. He will begin to get profits once he gets back all his investments.
3. Security
It is the assurance that all the fundamental requirements will be well. A basic human need is to feel safe. Negativity is a result of insecurity.
Investment should not be the only goal. A person should also enjoy a part of his earnings by eating good food, wearing good clothes, and building a house. If not, what is the use of earning so much if it does not give him any basic requirements and security?
4. Freedom
It is the ability to do what an individual wants, live where he wants, eat what he wants, and learn anything his heart desires.
Money will not be an issue if one has several sources of income. When he achieves that level of independence, he has reached a successful state of his existence. He can live happily by traveling, exploring, reading, eating healthy food, etc.,
The above are the four stages of wealth. Most of them take more than 40-50 years to reach the last stage of freedom. Some people achieve it at an early stage of their life. They work hard when they are young.
Always go step by step. An individual will fall if he tries to go to the second stage without reaching the first.
Some of them will fail at the initial step because of poor planning. It is difficult to reach the level of freedom if one comes from a poor background.
Life tip
Wealth is the legacy we leave behind in our life for the people we love and inspire, not the money, assets, prestige, or power.
