According to the , a thefreedictionary.com road map is a detailed set of plans, guidelines, instructions, explanations and/or standards to determine a course of actions. Riches refer to wealth or an abundance of money, valuable possessions and properties.
4 Reasons Why a Road Map to Riches is Necessary
1. To have an overview of all the plans and actions to be taken to accomplish the objective of becoming rich
2. To avoid procrastination and waste of time
3. To show to other expert and successful people the journey that you have taken and the obstacles you have met for consultation and advice
4. To be used in monitoring plans and actions taken if they are within the timetable.
5 Steps On How to Prepare a Road Map to Riches
1. Finalize and confirm the objective of becoming a millionaire
2. Gather all the tools needed to accomplish the objective
3. Prepare the initial road map to riches by listing down all the detailed plans and actions to attain the objective.
4. Make changes to the road map, if necessary
5. Post the road map on the wall where it can be seen every day
Tools Needed to Prepare a Road Map to Riches
The objective or decision to become a millionaire
Changed attitude and discipline
Commitment to take the long journey to riches and finish it up to the finish line
Books, magazines, ebooks and other reading materials related to wealth building
List of possible sources of income
Basic knowledge of money management
Bank checking or savings account
Credit card or debit card
Internet service connection
Net worth computation sheet
A list of possible sources of income enumerates where money will be coming from in order to contribute to wealth. Example: online and offline businesses, multilevel marketing, real estate and stock investments, bank savings and certificate of deposits, and others.
Net worth computation sheet is a proforma form where detailed assets, liabilities and net worth are listed. To compute for net worth, liabilities are deducted from assets.
Example of My Road Map to Riches
Objective: TO BECOME A MILLIONAIRE IN TEN (10) YEARS
Period Covered: July 01, 2012 to June 30, 2022
Plans and Actions
Assess present financial situation (I have US$1,000; checking account; used computer and printer; Internet service connection
Finalize and confirm the objective to become a millionaire
Conduct research on how to become a millionaire (books, online information)
Set my mind that "I want to be a Millionaire"
Determine possible sources of income based on the present financial situation
Create a website with blog
Finalize the Road Map to Riches
Post the Road Map on a wall that can be seen everyday
Do monthly or weekly blogging
Surround myself with books related to wealth building for easy reference and guidance
Put advertisements on my website
Subscribe to Affiliate Marketing
Create and sell ebooks
Solicit money donations
Sell products & services
Join Multilevel Marketing
Reduce number of credit cards
Pay credit cards with high interest rate
Reduce car expenses
Minimize dining out
Eliminate landline phone and subscribe to Magic Jack Plus phone
Buy and sell real estate properties
Compute for Net Worth to monitor progress
2013-03-15 (and every year)
2013-04-15 (and every year)
Since I have a very limited money, my strategy is to start with a website with a blog which I can use to generate income. I expect that the online income from advertisements and affiliate marketing will be limited during the first year of operation. Once I publish at least 50 blogs, I will submit my blogs to carnival blogs to attract more traffic and tune up my search engine optimization, I am hoping that my online income will start to increase on the second year and thereafter.
You can copy the sample Road Map to Riches and make adjustments based on your financial situation. The earlier you implement the Road Map to Riches, the sooner you become a Millionaire. GOOD LUCK!
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