4 Steps to Achieve Your Success

The Merriam-Webster dictionary defines success as a degree or measure of succeeding or a favorable or desired outcome. Many of us also define being success as the attainment of wealth, favor, or eminence another dictionary definition. However, the older definition is a result or an outcome.

So, as you and I move through life, though we would like to see success as the attainment of some temporary goal, we should look more to the idea of success being the outcome of our efforts over time. At some points in our lives, the outcome will be favorable and at others, not so good. However, often both the good and the bad are due solely or partially to our efforts.

However, if you desire to have more favorable or desired outcomes, then you will have to think differently than the great majority of people. This difference is why there only about 2 percent of Americans and less than 1 percent of all North Americans can be defined as millionaires.

Yet, though these individuals are often considered, to me, the real question about success is that of financial independence. Financial independence is being able to live off your investments or sources of income without working.

One way of estimating this is to use data accumulated by the U.S. Department of Health and Human Services study. This government agency did a study of those retiring in the United States. The very upsetting results indicate that fully 95 percent of the people in this country do not achieve financial independence by age 65, instead they end up dependent on the government, or charity, or their families, or they have to keep working until they die.

What an upsetting figure this is. Ninety-five percent of those retiring or retired have to rely on someone else to support them. This is appalling.

Is that what lies in your future?

To avoid this trap, there are several things you can do to change the outcome.

1 – Develop good economic control

Years ago, Joe Dominguez and Vicki Robin wrote Your Money or Your Life, a book about controlling and using money appropriately, which has been reissued. These authors provide practical ways that you can take over your economic life and live well, and within your means. Instead of wishing to live the life you want, you can live a wonderful life with tremendously less stress.

2 – Independent thinking

Learning to think “outside the box” or as a contrarian is critical. To achieve success, you just can follow the masses. You have to know what you want and think carefully how you will achieve it. To do this, you will have to read and consider many alternatives for your future.

3 – Creative problem solving

Once, due to the deceit of a realtor, we were in a place where the income from our only apartment would not make its payments and we could have lost it. Instead, I adjusted the number of dependents we had and, due to the reduced taxes I paid every month, I was able to make the payments instead of losing the building. The real point is that you may have to be very creative to overcome the challenges in your life. Frequently, only through creative approaches can a successful solution be found for your life’s problems.

4 – Believe you can make a difference

I feel that it is normal to enter life with a number of doubts about ourselves and our abilities. The issue, though, is that rather than being undone by your doubts, you have to work to develop self-confidence. When we bought our first investment property, we had to scrape by. But, we believed we knew we could make the payments.

Likewise, you have to identify areas you wish to develop skills in, and then put in the time and effort to master these skills. Yes, I learned how to be a plumber, a repairman, a carpenter and an electrician from my rentals. I wanted to own property and these were the skills I had to master to keep my costs down.

By believing that I could learn these skills, I went ahead. I also have a female friend, who doesn’t’ drive or use a wrench or screwdriver, but who has owned many properties.

The point is not that I or she did it. Rather, the point is that you need to define what you want for success and move forward toward it. Be economical, be independent, be creative and trust that you have the capacity to achieve success on your terms.