Investing in the stock markets over long periods of time can build fabulous wealth. If you know what you are doing, you can pick individual stocks that return 10 times or more their original purchase price. And even if you don’t know what you are doing, you can buy index tracker funds that rise as the whole market rises.
But is investing the best approach to getting the life that you want? Probably not. Some people build huge investment portfolios over the span of many decades, but there are some real costs.
- Being stuck in a boring job that you don’t want to do
- Denying yourself consumption in the present so that you can invest more
- Having the gnawing feeling that you just can’t enjoy your life
- Putting off all your fun to the future
- Working evenings and weekends to meet your investment targets
Most people don’t follow the investment strategy to wealth precisely because the sacrifices are so great. You often have to give away at least 15 years of your life to consistent working and saving, perhaps without even taking a vacation. So for many, it simply isn’t worth it. They would prefer to enjoy their time now and then worry about their lack of money in the future.
But it turns out that there is another approach to wealth generation called the abundance method. And it offers a host of advantages that you simply don’t get with a traditional investing approach.
The abundance idea is the notion that there is lots of money out there – it’s just a matter of coaxing it to come in your direction. Traditionally, people would set up businesses to accumulate massive wealth. But in today’s world, even social media personalities can do it.
Moving over to the abundance mindset requires a shift in your thinking. Investors, like Warren Buffett, have this notion that resources are fundamentally limited. That’s why they save and invest every penny, cutting back on the things that they want to get out of life.
But the world is actually teeming with resources right now. If you have the right ideas and you execute them, there is no reason you can’t have wealth quickly – not decades down the line.
In this post, we take a look at some of the reasons why investing is good, but abundance is even better.
You get to do what you love
If you decide to adopt the abundance mindset, you must do what you love. If you don’t have passion for a project (and you just want money), it won’t succeed. You need that positive energy to drive it forward and make it happen.
Doing what you love is so fulfilling – way better than working in a career for money. You feel like you are using your life in the best way possible, instead of allowing the years to slip away doing some dull, boring office job. It’s thrilling, but also incredibly rewarding.
The biggest cause of the midlife crisis is lack of meaningful work. People get trapped in all kinds of rackets where every day feels the same, according to tinybuddha.com. They go through the motions – the same daily routines – and it slowly saps the joy from their existence. They begin to wonder what it is all about.
Going down the abundance route changes all that. You are using your time to do something with massive impact. It is automatically more fulfilling.
You get to make a difference
Selling insurance is important, but most people who do it don’t feel like they are making strides in the world. Their income is okay, but they often wonder whether there is more that they could squeeze out of life. They can’t feel a connection between their work and the wellbeing of the community around them.
When you tap into the abundance mindset, though, all that changes. You finally engage in projects that lift up the people around you. You sell a product or service that makes a genuine difference in their lives.
Feeling like you are making a difference helps to create a self-motivating cycle. As you progress, you see the positive effects of your work which drives you forwards even faster. These could be financial, health-related, or spiritual. Whatever it is, you can see it making a practical difference in the world.
You can achieve more wealth than you can imagine
Did Johnny Depp make his $500 million fortune (which he later lost) by saving and investing? No – he did it by tapping into the wealth all around him. Starring in movies, getting royalties from merchandise and buying businesses allowed him to create one of the biggest fortunes in showbusiness.
If you have a regular job and a normal wage, you can build that kind of wealth, but you’ll be waiting a long time. Like fifty years – in other words, most of your life. (Compound interest will get you there eventually).
Most people, though, never go down this route. The costs are just so high. You have to put off consumption your entire life, only to enjoy yourself in the final few years.
But when you go down the abundance route, you can achieve more wealth than you can imagine, without the same delay or sacrifices. People typically achieve massive success in ten years, not fifty. So going for your goals right now can have a tremendous payoff.
You feel satisfied
Tapping into abundance gives you something important in life: satisfaction. When you know you are using your full potential, you feel like you are living life to the full.
Now compare that to people stuck in dead-end jobs and relationships. They feel like they are spinning in circles, not tapping fully into their divine nature. It’s just not the same type of lived experience.
You can create long-term personal value
Changing how you live your life can also help you generate tremendous personal value in the long-term. Once you have it, you no longer have to worry about whether somebody will employ you in the future or you can find work. Instead, people naturally gravitate to you. They want to know as much as possible about you. And that always opens up opportunities to earn yet more money.
The starting point is to build a personal brand. Sites like WebX360.com discuss some of the digital tools you can use to achieve that.
Once you have a personal brand, you’ll want to sell it to other high-value people in your network. The more you can build connections, the more audiences you will encounter, and the more people will become attracted to you.
Eventually, you’ll notice that you hardly need to put any effort into outreach at all. People flock to you. You’re in demand.
You avoid the rat race
Stepping out of the rat race is a truly liberating and wonderful experience. You don’t have to put your life on rails and go through it as everyone else does. Instead, you step off the tracks and find your own path. It’s more authentic.
The biggest obstacle is fear. Taking control of your life in this way is scary. But if you can find a way to manage your anxiety, you soon discover that it is the best way to proceed. You give up clinging to things in life and just embrace the process, whether good or bad.
You stop waiting for life to happen
Waiting for life to happen is a soul-destroying experience. You know that the clock is ticking, yet you feel stuck. For whatever reason, happiness is always a few years away.
Adopting the abundance lifestyle prevents this. Yes – material abundance is important. But an abundance mindset also gives you mental abundance too. You can access inner wealth whenever you want, even as you build your outer wealth.
Getting stuck into a project (instead of spinning your wheels in a regular job) makes you feel truly alive. You have to negotiate with people in the marketplace, convince them that you have a solution, and then scale your operations. You’re not grinding through the same tasks over and over. You’re doing something different.
You opt out of comparisons
Living your life by comparing it to other people is a drain on your happiness. You constantly look at the next person and tell yourself that they have something that you don’t. Over time, it can make you unhappy.
But what’s the solution?
The trick here is to opt out of the comparison game and just focus on what you’re doing. Fundamentally, it doesn’t matter how others are approaching their lives and the success they are having. What matters is the progress you are making personally.
The abundance approach gives you this mindset. It teaches you that there are many resources available. So even if somebody else has a lot, it doesn’t matter. Even if you aren’t at the level of income that you want right now, nothing is going to get in your way of getting there. There are always more opportunities.
In summary, adopting an abundance mindset can be scary, but it is also liberating. You can use it to build your wealth in a way that makes the process fun.
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)