I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he has had to overcome while trying to succeed. Booker T. Washington

 

Walking In God’s Favor: Do not wear yourself out trying to get rich. Be wise enough to know when to quit. In the blink of an eye wealth disappears, for it will sprout wings and fly away like an eagle. Proverbs 23:4,5

Networking Is An Essential Tool For Building Wealth

We enjoy encouraging those of you who have a plan, purpose and passion for  obtaining wealth. We can be in the middle of a recession and you will find creative ways to reach your financial goals.

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Deciding to become a better steward of your wealth takes wisdom, diligence, and prayer. If you seek the spiritual power that God gives to get wealth, you are going to have to think differently, and make choices that will move you toward your financial destiny.

Guiding Principle: We Can Create Wealth Together

You will be surprised to discover the profile of those who accumulate financial prosperity in America. According to Thomas J. Stanley & Williams D. Danko, authors of the The Millionaire Next Door, who researched Americans that have a net worth of a $1 million or more.

Their findings are interesting. Usually the person is an entrepreneur, who has lived in the same city all their adult life. They own either a service company, small factory, or chain of stores. They remain in a lifetime relationship and have married once. They live next door to people with a fraction of their wealth. They earned their money on their own, and 80%  are first generation rich.

Building Wealth Is A Marathon, Not  A sprint

Here are seven common traits found in people who successfully create wealth:  (Adapted from the The Millionaire Next Door)

1. They live well below their means.

2. They balance and integrate their time, energy, and money efficiently in ways that create wealth.

3. They believe that financial independence is more important than displaying high social status.

4. Their parents did not give them their wealth.

5. Their adult children are economically self-sufficient.

6. They are good at finding and targeting marketing opportunities.

7. They chose the right occupation.

In closing, we leave you with the words of  Jesse Jackson in his book, It’s About Money,  “Income without wealth, is just flash without cash.” Always remember,  income is based on your paycheck, and wealth is based on your assets (what you own).

Prayer: Lord, thank You for the wisdom to create wealth.

Michael J. Vance is the co-host of a weekly podcast Better Husband Father Man a hub forSOW65 all things parenting, marriage, and self-improvement. He is a senior account executive with Hundley Batts & Associates Insurance Agency and co-founder of Stewardshipofwealth.com. Ardella Vance volunteers her time, talents, and financial resources to causes she is passionate  about. She is a gifted educator and a Master Guide in the Pathfinder Club, a global organization empowered to teach life and leadership skills to young people. The Vances have been married well over 30 years and share their lives with four adult children and eight exceptional grandchildren. They currently reside in Huntsville, Alabama and blog from their workbook “Stewardship of Wealth”.

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