#RichLifeLawyer Show 015: Three Qualities of Financially Successful People

On this episode of the show we’re talking about how to become financially successful.

I think what you’ll find as we go through these qualities is something surprising.

First, there is nothing special about these qualities. It doesn’t take an extreme amount of smarts or discipline or a big financial base. It’s simply making good decisions consistently.

Second, none of these create fast wealth. When it comes to becoming financially successful people time is our friend. Compound interest is our best friend.

To get the three qualities and learn a little about implementing them into your own life to increase your financial success, click the link above, watch the video, or check out the transcript below.

Enjoy!

Cheers,

Christopher Small

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Christopher Small is a Kirkland estate planning attorney who helps people get rich and live forever. He is also the owner of CMS Law Firm LLC.

Three Qualities of Financially Successful People Transcript

Hey everybody welcome to episode fifteen of The Rich Life Lawyer show. I am your host Christopher Small. Excited to be here with you, excited to talk to you about the three qualities that all financially successful people have. If you want to get there and sort of adopt these qualities, the wheels will start turning and those start to happen. Let’s just dive right in to this. Quality number one is that they know their numbers. You need to know what your, you should know what your net worth is.

You should know what your take home pay is, you should know what your liabilities are, liabilities debt just means how much debt you have. You should know, to have a plan for paying that off or you should know what does not know what your numbers are. That is a key element to getting were you want to go. Quality number two is that financially successful quality that people have. Is that they are intentional. And what I mean by intentional. Is that they are doing pretty much everything with a purpose.

They have put their money in a specific place for a specific reason. And they’re doing it because they know where they want to be I mean they known where they want to go. And they know how to get there, they know that this is, I want to put this money in this account that’s earning this amount of interest for this reason. Or I’m taking on this debt for this reason. People sometimes think that all debt is bad debt, that’s not necessarily true. Let’s say you have a rental house. And the mortgage is four hundred dollars a month and the rent is eight hundred. But to get that house you have to take out a mortgage of like forty thousand dollars. So technically, you’d be forty thousand dollars in debt. Or you would have that debt on the books.

But is it really bad debt if someone else is paying for it. Probably not. And then the third quality that financially successful people have. Is that they set specific goals. Right and I talk about this a lot. But you can’t get where you’re going. If you don’t know where you’re going. You can’t get there if you don’t know what the destination is, all financially successful people have some sort of goal in mind. Some place that they’re trying to get to that they can then be intentional about and know the numbers are to reach those goals. Because you can sort of spin everything into a number but the number itself is not going to be good enough. All right so, this is what I want to know the question of the show.

Which one of those qualities are you most strong in right now, of those three. Which of those three qualities are you most strong right now. Love to hear, leave me a comment below but. If you have questions. I have answers. Let’s see. On Twitter @richlifelawyer. You can also find me on Facebook facebook.com/richlifelawyer. Just use the hashtag #richlifelawyershow. Ask your questions we’ll start doing some Q and A shows here. And I’ll answer for it. So I’m really excited about that, you can ask me anything you want. Love to help and can’t wait to hear from you. Bye.