What's Your Next Level In Wealth Building?

I recently spoke at the Next Level Up Day Party for Women, the room was filled with excitement! The women were eager for information that they could start applying right away. As I considered the ladies’ hunger for growth, I couldn’t help thinking that my next level wealth building message would be just what they needed to hear.

“Ladies,” I said, “I have some good news and some bad news. The good news is that as women we live a long time, on the average 7 years longer than men. So what’s so bad about that? Many of us will also outlive our money.”

How do we stop this from happening? How do we ensure that we don’t have to go and apply for the number one retirement job - a Walmart Greeter?

Think of wealth building in levels

Level ONE - SUSTAINABILITY

76% of Americans live paycheck to paycheck, the act of sustainability in your wealth building is getting to that place where you have more money than month. Where you start to climb out of debt and have excess money in the bank! My philosophy of building wealth is thinking about every purchase in terms of one-dollar, one decision at a time. At first these daily decisions may seem like a sacrifice. Yet as you get a clear vision about your future, it really won’t seem like a big deal.

Steps to sustainability

Step 1 -  Get a clear vision of your future.

Step 2 - Start living each day as if you are moving closer to your vision.

Step 3 - Act as if you’re already there.

Level TWO - Generational Wealth Building

Once you’ve mastered sustainability, you’re able to think clearly about your future and the things in life that are really important to you. As you move into this phase, your bills are paid, you’re out of debt or at least have a manageable plan and deadline for being out of it. This is where you start to build wealth for your children and your children's children.

I had this coaching client, Phyllis who shared with me how she followed my plan and purchased her home then bought two investment properties. One of the properties will be completely paid for by the time her son goes off to college. Her plan is to use a property to fund his college education and then give him a free and clear property to live in. She has changed the course of her family wealth building with her decision to go to the next level and is setting up her next generation for success!

           Phyllis shares her inspirational story with Sonia on SoniaBooker TV

Level THREE - Legacy Building

This is the stage that you get to where you’re making your life count! What will you be remembered for? We’re all put on this earth to make a difference, no matter how big or small, yet most people never get here because they can’t get to the first level of wealth building.

When I look at Oprah Winfrey, I see a legacy of education. The idea that she has built a school in Africa that graduates women who go on to be doctors, scientists, entrepreneurs, teachers, inventors, is absolutely amazing!  And on top of that she sends dozens of boys to Morehouse College each year. As we look at an example like this, we can be encouraged that in all that she does in media, it’s what she is doing with her legacy that’s truly impacting the world!

How will you impact the world? What level are you on and what steps can you take to get to the next level in your wealth building?

Please comment and share your thoughts, I would love to hear from you.

Happy wealth building,

Sonia

Sonia is passionate about wealth building, providing people with tools and resources is part of her unique brand and mission to create a wealth building movement. She knows that a large part of this challenge starts with education. Sonia is the author of Real Estate & Wealth: Investing in the American Dream and the creator of the iBuild Wealth Workshop which a free community and online event offered each April during financial literacy month. In addition, she host the signature sold out event, the  Everything Real Estate Conference & Expo for new and advanced investors to learn all facets of the industry. Sonia coaches a select number of clients each year to fulfill their goals of investing in real estate. She believes that this success is achieved by having a real estate game plan. 

To learn more about Sonia, visit www.SoniaBooker.com.

Resources for this article: Download Your Free eBook Here - The 7 Basics Truths of Wealth Building