The following methodology is from Napoleon Hill’s inspirational classic “Think And Grow Rich”.
This book conveys the experience of more than 500 men of great wealth, who began started from the bottom, with nothing to give in return for riches except THOUGHTS, IDEAS and ORGANIZED PLANS.
In the book Hill lays out the 6 ways to turn desires into gold. They are paraphrased below…
First, fix your mind to the exact amount of money you desire. It is not going to work if you just say “a ton of money” it must be specific.
Second, determine what you will give to get that money. The old saying is true, you can’t have something for nothing.
Third, establish a concrete date. This is you drawing a line in the sand.
Fourth, create a plan and start at once. Kind of a no brainer right?
Fifth, write out your plan, the amount of money, and the date in which you will obtain it.
Sixth, say what you just wrote aloud twice a day (once when you wake, and once before you go to bed).
Thoughts on how to turn desires into gold
I definitely think Napoleon is onto something here…
However, this framework applies to much more than just money.
I have often heard people talk about “their number” which is the amount of money they would be happy with.
I am learning that this is futile and a waste of time.
In all honesty, planning 5 years in advance could be difficult with all that life throws at you, I can’t imagine planning out 30 years.
But this framework has some great advice.
To me this almost sounds like creating a S.M.A.R.T goal.
I think the most important parts of this are the writing down what you want, and drawing a line in the sand.
If saying it aloud helps, then go for it.
About The Author – Alex
I am on a journey of personal growth. I love learning about investing strategies and ways to actively improve my life. Follow along and connect with me if you are looking for a path to financial freedom and becoming the best version of yourself.