Financial Mentor

  • New Visitor? Start Here
  • Member Login
Member Login
×Close
  • Home
  • Calculators +
  • Resources +
  • Topics +
  • Products +
  • Coaching +
  • Podcast +
  • About +

Invest smart. Build wealth. Retire early. Live free.

FacebookTwitterPinterestLinkedIn

The Ten Commandments Of Wealth Building

By Todd Tresidder
Advertising Disclosure
Financial Mentor has commercial relationships with certain companies we reference on this website. Opinions are ours alone, and we take a good faith approach to maintaining objectivity. If we wouldn’t use a product ourselves, we won’t recommend it. We strive to keep information accurate and up-to-date, however, all products are presented without warranty.

Financial Mentor has partnered with CardRatings for our coverage of credit card products. Financial Mentor and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Discover the Ten Key Principles to Build True Wealth (Surprise! It's about a lot more than just making money)

Key Ideas

  1. How you can build wealth automatically with the least amount of effort.
  2. How “environments” and habits can literally pull you toward your wealth goals.
  3. 6 different types of leverage to build your wealth.

True wealth is about a lot more than just growing your net worth.

Yes, it's true that financial independence is all about money, but living a wealthy life isn't. This distinction is critical.

We've all seen rich people who are miserable, and poor people who are happy.

Research even shows the relationship between money and happiness is small.

Below are the key ten principles that will help you achieve true wealth — both financially and personally.

1st Wealth Building Principle: Get Deeply Motivated

Money is a shallow motivator — too shallow to drive you deep enough to achieve success.

The problem is financial wealth is an external goal with benefits limited to the world outside of you. Money buys things, but money doesn't buy happiness. It can build you a prettier prison, but it can't get you out of prison.

The inherent limits of external goals (fancy houses, cars, and big bank accounts) similarly limits how motivated you will be when pursuing them.

To succeed in building wealth, you want to be driven by internal goals deeper than just the external trappings of wealth.

You want a cause that will bring transformation to your life and drive you deep enough to overcome all the obstacles that stand between you and financial freedom.

Related: How to be a pro at growing your wealth

Internally-driven goals that might focus your attention long enough to succeed include the following:

  1. Freedom: Break loose from the shackles of daily labor so that you have more time to grow, create, and live to your fullest potential.
  2. Charity: The more you have the more you can give. Charitable foundations created by wealthy families often provide the financial muscle to empower great social and environmental causes.
  3. Growth: When you have financial freedom, you also have more time to pursue personal freedom. The wealth in your external world becomes a mirror to the wealth in your internal world. The principles that lead to financial wealth can also lead to true wealth by affecting other areas of your life.
  4. Leadership: Grow your own wealth ethically and joyfully so that you can lead by example for friends and family to rise above the bonds of financial mediocrity and follow in your footsteps.

The reason deeper causes are essential is because building wealth isn't easy.

You will encounter many problems that must be overcome along your journey to financial freedom. You will pay a price to reach your goal.

To stay the course long enough to succeed, you must be motivated by a commitment that runs deeper than just the lifestyle that money can buy. This step-by-step course to financial freedom can help you find your “why” to propel you toward your goal.

Get This Article Sent to Your Inbox as a PDF…


These 10 Commandments of Wealth Building will help you achieve financial success and true wealth.

2nd Wealth Building Principle: Give More Value Than You Take

Adding value to the world by giving more than you receive makes everyone better off. That's how you build true wealth. You improve others lives by improving your own.

Sure, history is replete with people who have amassed financial empires by exploiting others or the environment, but taking value can never lead to happiness or fulfillment.

Exploitation may bring riches, but giving value brings happiness and fulfillment as well as riches — and that's true wealth.

By giving more value than you receive, success becomes a measure of how much you've given. The wealthier you become, the more you are giving to others.

It's a rewarding way to live.

“From what we get in life, we make a living. From what we give, we make a life.” – Arthur Ashe

3rd Wealth Building Principle: Live With 100% Integrity

Never do or say anything that wouldn't make your Mother and Father proud.

Don't cause harm, encroach on others property, violate moral law, or damage the environment. Don't lie, insult, or cheat in pursuit of financial wealth.

Heck, don't even stretch the truth. It just isn't worth it.

The rule is simple: if it doesn't feel right then it probably isn't. If you don't feel comfortable telling your spouse, children, and parents what you are doing, then you probably shouldn't do it.

Related: How to take back control of your portfolio

Never choose expediency over integrity because no amount of financial wealth can replace a good night's sleep, a clear conscience, and a peaceful mind.

4th Wealth Building Principle: Be Courageous

Humans are social animals which makes us cautious to venture independently. Yet, wealth doesn't come from following the crowd. It results from doing what others won't so you can have what others never will.

Wealth results from doing what others won't so you can have what others never will.
Click To Tweet

It takes courage to be a self-starter and be self-responsible. It takes courage to walk new paths and develop new skills. It takes courage to stand out from the crowd. It takes courage to put out the extra effort when others don't.

In short, it takes courage to build wealth.

It may be true that the nail that stands up is the nail that gets hammered down, but it's equally true that the nail that never got driven is the nail that didn't fulfill its purpose.

Live with courage so you can live fully and experience true wealth.

5th Wealth Building Principle: Be Disciplined

Wealth is the cumulative result of many little things added together and compounded over a lifetime. That means your daily habits will make or break your success.

Saving, investing, reinvesting, and growing your financial and business intelligence are all essential wealth building habits that require persistent and consistent effort.

In other words, wealth building requires discipline.

Without discipline, you risk falling prey to the number one wealth killer: procrastination. You must begin the right habits today without delay. It takes discipline to overcome procrastination by starting today and persisting tomorrow.

There is no substitute for action. Anything less is just an excuse.
Click To Tweet

Another obstacle to disciplined, daily habits is “magical thinking.” This is the false belief that financial security will magically appear out of thin air without a specific plan or action causing it.

Related: Why you need a wealth plan, not a financial plan.

Wealth happens because you do what it takes to make it happen. The appearance of “instant wealth” actually stands on the foundation of years of disciplined, daily habits.

Luck comes to those who make their own breaks, and this course shows you how to do it.

6th Wealth Building Principle: Avoid Conspicuous Consumption

The illusory carrot for building wealth is the attraction of a “more, better, different” lifestyle.

This myth is perpetuated by brokerage ads filled with sailboats, European vacations, and perfectly manicured golf resorts. The problem is consumerism causes your limited resources to be directed toward lifestyle and away from building wealth.

They are competing demands for the same scarce resources – and only one can win the battle.

“Seek freedom and become captive of your desires, seek discipline and find your liberty.” – Frank Herbert

The reality is wealth is a form of delayed gratification. Wealth builders live modestly by spending less than they can afford (in money, time, and energy), so they can invest the difference for greater value in the future.

They understand happiness doesn't result from the material trappings of wealth, because that would only keep them from fulfilling the deeper cause that drives them to success.

Every day you make a choice between consumption today or wealth for tomorrow.

The only way to embrace delayed gratification as the most fulfilling alternative without any sense of sacrifice is to have a motivating cause deeper than your desire for lifestyle. If lifestyle is your cause, then consumption becomes the priority — making wealth eternally elusive.

7th Wealth Building Principle: Build Supportive Environments

If building wealth was easy, then more people would achieve it. Yet, few succeed in their pursuit of financial freedom even though anyone can put together a reasonable plan to become wealthy.

The difference is consistent, persistent, focused action. Life provides an endless stream of distractions to sidetrack your plans for wealth.

The solution is to create a support system that keeps you focused, on track, and literally draws you toward wealth.

Your family environment, relationships, work environment, financial habits, daily rituals, and more must be proactively designed to literally pull you toward wealth by supporting and reinforcing your plans.

You must structure your life to support a wealthy outcome. It's the path of least resistance.

Financial Mentor's coaching and educational products can help you re-design your life to achieve financial freedom. You can either direct your daily life to achieve your goals, or you can passively allow your days to be filled with alternatives.

You either get the results you choose, or you get the results that are given to you. Which path will you follow?

8th Wealth Building Principle: Apply Leverage To Build Wealth

Leverage is the essential success principle that builds wealth. You won't get wealthy by trading time for money, and you can't do it all yourself.

See My Related Book…

The Leverage Equation How to Work Less, Make More, and Cut 30 Years Off Your Retirement
Amazon Kobo B&N iBooks

Building wealth requires you to work smarter rather than harder by applying the following principles of leverage:

  1. Financial Leverage: Other people's money so that you're not limited by your own pocketbook.
  2. Time Leverage: Other people's time so that you're not limited to 24 hours in a day.
  3. Systems and Technology Leverage: Other people's systems and technology so that you can get more done with less effort.
  4. Marketing Leverage: Other people's magazines, newsletters, radio shows, and databases so that you can communicate to millions with no more effort than is required to communicate one-on-one.
  5. Network Leverage: Other people's resources and connections so that you can expand beyond your own.
  6. Knowledge Leverage: Other people's talents, expertise, and experience so that you can utilize greater knowledge than you will ever possess.

Leverage allows you to build more wealth than you could ever achieve alone by utilizing resources that extend beyond your own. It allows you to grow wealth without being restricted by your personal limitations.

Leverage is the principle that separates those who successfully attain wealth from those who don't. It's just that simple.

If you aren't using leverage, then you're working harder than you should to earn less than you deserve — and that isn't going to make you wealthy.

9th Wealth Building Principle: Treat Your Wealth Like A Business (Because It Is)

You wouldn't build a business without a business plan. Why should building wealth be any different?

Design your wealth plan based on proven business principles that lead to success. These principles include competitive advantage, leverage, accurate record keeping, and accountability– just to name a few.

Run your money like a business, because that's exactly what it is: a personal financial management business.

Related: Here’s a scientific system to build your wealth now

Additionally, your personalized wealth building plan should take into account your unique skills, interests, and resources while incorporating the Ten Commandments to Wealth, successful investment principles, and much more.

When complete, your wealth plan will be tailor-fitted to your unique life situation, while honoring the proven success principles that no wealth plan is complete without.

Run your money like the business it is. Anything less will slow your journey to wealth.

10th Wealth Building Principle: Steward Your Wealth

“If a man is proud of his wealth, he should not be praised until it is known how he employs it.” – Socrates

Wealth is your servant, and you are a servant to your wealth. Money is little more than a tool that comes with a responsibility to use it wisely.

The rich man is a fool who dies without arranging his affairs to assure that his wealth does good during his lifetime and after his passing.

Through your legacy of wealth, you have the opportunity to bless yourself and your family's life now and in the future. And you can go beyond that by expanding the circle to include the lives of all who follow you.

As a successful wealth builder, you'll be in the unique position to organize charities that can do great social good. The fact that you can't take it with you means wealth is a gift to be given.

Always understand that wealth isn't something you possess, but a flow which has found a temporary parking place under your stewardship.

Eventually this stewardship will move to others as all things must pass (including you). The wealth builder's solemn responsibility is to use this temporarily gifted power wisely so that it creates maximum benefit for all those who are touched by what you created in your lifetime.

The objective is not just to become rich, but to build a balanced and fulfilling wealthy life. Following these 10 success principles will put you on the path to true wealth -- because life is too short to settle for anything less. Money isn't everything.

In Summary…

There are ten key wealth building principles that lead to true wealth, not just monetary wealth. The objective is not just to become rich, but to build a balanced, fulfilling, wealthy life.

These ten key principles will help keep you on track:

  1. Build Wealth For A Deep Cause: Money alone is too shallow a goal to motivate you to overcome all the obstacles that stand between you and wealth. When you find a deeper goal like freedom, growth, creativity, or charity, then you'll have the internal motivation to persist and succeed.
  2. Give More Value Than You Take: When you give value then your financial success becomes a measure of how much you have given to the world. It's a satisfying way to live.
  3. Live with 100% Integrity: Integrity is non-negotiable because no amount of money can replace a good night's sleep, a clear conscience, and a peaceful mind.
  4. Be Courageous: Wealth results from doing what others won't so you can have what others never will.
  5. Be Disciplined: Life will conspire to distract you from achieving your goal. Only the disciplined will stay the course with consistent enough action to get results.
  6. Avoid Conspicuous Consumption: Nobody ever spent their way to financial freedom. Every day you make a choice between consumption today or wealth for tomorrow.
  7. Build Supportive Environments: The path of least resistance to wealth is paved by supportive environments that literally pull you toward the goal.
  8. Apply Leverage: Leverage is what separates those who achieve wealth from those who don't. You can't reach the goal by trading time for money, and you can't do it all yourself. You need leverage.
  9. Treat Your Wealth Like A Business: As a wealth builder, you're in the personal financial management business and must manage your net worth just like an executive manages a successful business.
  10. Steward Your Wealth: Money is little more than a tool that comes with the responsibility to use it wisely. It's not something you possess, but something that passes through you and must be given back.
Follow these 10 success principles, and you'll be on the path to true wealth.
Click To Tweet

After all, isn't life too short to settle for anything less?

“Say what you will about the Ten Commandments, you must always come back to the pleasant fact that there are only ten of them.” – H.L. Mencken

The One Decision That Can Make Or Break Your Financial Future

There are only four paths you can choose from.

Click below to find out which path is best for you, and why.

Yes! Tell Me About Expectancy Wealth Planning strategy

Want a PDF of this article? We'll email it to you!

+ =

Related...

Andrew Carnegie "The Gospel Of Wealth"
Build Wealth With This Goal Setting System
Expectancy – Millionaire Math That Converts Uncertainty into Profit
FM 011: Automatic Wealth - How To Master Your Habits with James Clear
FM 017: Why "Follow Your Passion" Is Bad Advice with Cal Newport
Faster, Better Results Now: How Accountability Helps You Build Wealth
How To Build Wealth (It's Ridiculously Simple)
Reduce Your Risk by Increasing Leverage - 5 Uncommon Strategies
Ten Percent Rule To Build Wealth
The Great Passive Income Hoax
Compound Interest Calculator - Monthly
Money Saving Calculator
Share:FacebookTwitterPinterestLinkedIn

Comments

  1. Avatarstevenkobrinlutcf

    “Wealth is not something you possess, but it is a flow which has found a temporary parking place under your stewardship.”  How true! What better motivation to become wealthy than to endow the next generation with a legacy of doing good works?!

  2. AvatarHeart Centered Tools

    Absolutely love anything like this

  3. Avatarvjessi11

    Great Article

  4. Avatarinsuringindia01

    nice post

  5. AvatarVannaLIN

    nice post, thanks for sharing

  6. AvatarEmanueleDiStefano

    Effective, practical and a true eye opener. Thank you Todd

  7. AvatarLinda Rita Morgan

    Really good, solid advice!

  8. AvatarChris Kenber Business Coach

    As a business mentor I was drawn to read your blog to see what similarities there are between being a business mentor and a financial mentor. Many is the answer!
    I really enjoyed your post and will be relaying much of what you say to my clients, many of which hope to get rich quick and think that wealth will bring them lifelong happiness!

  9. AvatarDavid Chen

    Awesome list. Couldn’t agree more.

  10. AvatarMighty Investor

    Great article. For the “Avoid Conspicuous Consumption,” I’d call that “Don’t Try To Buy Status” in society. People buy the fancy cars to try to impress. But real wealth is something totally different, in many ways the opposite of financing a fancy car you can’t really afford.

  11. AvatarSteven Kaikai

    Very inspirational article to read. Thank you so much Todd for helping financial illiterate person like me and others like me world over.

  12. AvatarRoger Federer

    Really a informative article, almost all are life learning lessons, thinking to adopt at least few of them for now to build wealth.

  13. AvatarMs ZiYou

    Some good rules there – confident I uphold 7 of them, need to do some work on the others.

  14. Avatarade

    Thanks Todd, Your 10 commandments was a very interesting read, but not being a business person, and i don’t do investments, still we all need principles, like you say one as to be disciplined, in every thing one do’s their whole life through. But i shall be 81 this year , and the biggest fault 90% of the worlds population make is, they make promises they can’t keep, this is upsetting for most people, but most people have long memories.

  15. AvatarAbans Atwizire

    These 10 commandments will be a game changer for me. Thanks

    • AvatarTodd Tresidder

      You’re welcome. I’m glad you found them helpful!

  16. AvatarFinanciallyFree.eu

    Thank you for this list. I need to dig deeper into #8. If all other principals are taken care of, this is where the real magic happens.

  17. AvatarGeorge

    The belief that people should work extra hard if they want to become wealthy is a myth as you have demonstrated in your post. People should learn that they need the help of others and technology to accomplish their goals in life.

  18. AvatarAmani Moses

    What a great article!

    Thanks Todd

    • AvatarTodd Tresidder

      Thank you, Amani!

  19. AvatarTshidy

    From nothing, wealth I am coming for you. I am humbled and most of all, I am learning

This article’s comments are closed.

Trackbacks

  1. 10 Commandments of Wealth Building with Todd Tresidder | His and Her Money says:
    November 3, 2015 at 12:08 pm

    […] The Ten Commandments Of Wealth Building ~ by Todd Tresidder […]

Financial Freedom For Smart People
Book Series

the leverage equation
Amazon Kobo B&N iBooks
how much money do I need to retire
Amazon Kobo B&N iBooks
4 Rule Safe Withdrawal Rates In Retirement
Amazon Kobo B&N iBooks
Variable Annuity Pros and Cons
Amazon Kobo B&N iBooks
Investment Fraud
Amazon Kobo B&N iBooks
Don’t Hire a Financial Coach!
Amazon Kobo B&N iBooks
  • How Anyone Can Retire Early In 10 Years (Or Less!)
  • How To Build Wealth (It’s Ridiculously Simple)
  • The Ten Commandments Of Wealth Building
  • The Secret To Happiness… And Why It Has Nothing To Do With Money
  • 12 Tips To Build Wealth For Early Retirement
  • How To Get Out Of Debt – The Complete Guide
  • The Great Bond Bubble Is Now! What’s Next…
  • Pay Off Mortgage Early Or Invest: The Complete Guide
  • What Endurance Athletes Can Teach Us About Building Wealth
  • The Parable Of The Mexican Fisherman And Investment Banker
  • FM 026: Understanding What Todd Means By “Epochal Change”
  • When is the Right Time to Buy Life Insurance?
  • How To Consolidate Debt, The Smart Way
  • How Much Does Life Insurance Cost?
  • How Anyone Can Retire Early In 10 Years (Or Less!)
  • How To Build Wealth (It’s Ridiculously Simple)
  • How Does Life Insurance Work?
  • Do I Need Life Insurance? Why Is Life Insurance Important?
  • How Much Life Insurance Do You Need?
  • Optimize Your 401(k) Today [Includes Free 401(k) Analysis Tools]
  • Are Safe Withdrawal Rates Really Safe?
  • 7 Key Reasons Why Financial Education Is Your Best Investment
  • 10 Commandments of Investment Strategy
  • Andrew Carnegie “The Gospel Of Wealth”
  • Multiple Streams Of Income – Truth Revealed
  • Retirement Planning Checklist
  • The Smart Alternative To Retirement Planning
  • What Is A Good Investment?
  • Pay Off Debt Or Build Wealth? What To Do First…
  • The Minimalist Guide To Financial Planning
  • Retirement Planning
  • Investment Advice
  • Financial Advice
  • Wealth Building
  • True Wealth
  • How Much Do I Need to Retire?

Testimonials

After working with Todd for only a few weeks I have noticed great results in both my business and my life. Todd helps me bring all of my resistances to the forefront, and, working in unison with me, forges the tools to either overcome them or make them my ally. With Todd on my team, my wealth is assured!
Mike JerrySolopreneur
See All Testimonials Legal Disclaimer

More from Financial Mentor

New Visitors Start Here
Financial Freedom Course
A Smarter Way To Invest
Todd’s Books

Click Below To Learn How To...

Invest smart. Build wealth. Retire early. Live free.

Financial Mentor

Get Your FREE Wealth Building Tooklit:

  • FREE COURSE: 52 Weeks To Financial Freedom
  • FREE BOOK: 18 Essential Lessons From A Millionaire
  • Tools and Tips Not Found On This Site
Free instant access

Calculators

Retirement
Mortgage
Credit Card
Debt Payoff
Auto Loan
Savings
Investment
Loan
Personal Finance
Compound Interest Calculator
Debt Snowball Calculator

Learn More

About Financial Mentor
About Financial Coaching
Our Books
7 Steps To 7 Figures
Podcast
Todd R. Tresidder
Press Room
Contact

Resources

How To Invest Your Money
Recommended Reading
Recommended Tools
New Visitors Start Here
Ask Todd
Courses
Books
Audio

Facebook Twitter Google Plus LinkedIn YouTube RSS Pinterest iTunes

Home   Privacy Statement   Terms of Use   Contact Us

Copyright © 2000–2023• Financial Mentor • All Rights Reserved Worldwide
The information contained on this web site is the opinion of the individual authors based on their personal observation, research, and years of experience. The publisher and its authors are not registered investment advisers, attorneys, CPA’s or other financial service professionals and do not render legal, tax, accounting, investment advice or other professional services. The information offered by this web site is general education only. Because each individual’s factual situation is different the reader should seek his or her own personal adviser. Neither the author nor the publisher assumes any liability or responsibility for any errors or omissions and shall have neither liability nor responsibility to any person or entity with respect to damage caused or alleged to be caused directly or indirectly by the information contained on this site. Use at your own risk. Additionally, this website may receive financial compensation from the companies mentioned through advertising, affiliate programs or otherwise. Rates and offers from advertisers shown on this website change frequently, sometimes without notice. While we strive to maintain timely and accurate information, offer details may be out of date. Visitors should thus verify the terms of any such offers prior to participating in them. The author and its publisher disclaim responsibility for updating information and disclaim responsibility for third-party content, products, and services including when accessed through hyperlinks and/or advertisements on this site.
×

Yes, Send My FREE Wealth Building Blueprint!

  • E-Course: “52 Weeks to Financial Freedom”
  • Audio: Get my top tips
  • E-Book: "18 Essential Lessons From A Self-Made Millionaire"


×

Yes, Send My FREE Wealth Building Blueprint!

  • E-Course: “52 Weeks to Financial Freedom”
  • Audio: Get my top tips
  • E-Book: "18 Essential Lessons From A Self-Made Millionaire"


×

Yes, email me a screenshot of my calculator results!

We’ll email you a screen print of the calculator you just completed, exactly as it appears on your screen. We don’t save any of your data: it’s just an image. You can unsubscribe whenever you want.


Calculator screenshot sample
Sample Screenshot
×



These 10 Commandments of Wealth Building will help you achieve financial success and true wealth.
×

Enter Your Email And We’ll Send You A Convenient PDF Of This Article!



These 10 Commandments of Wealth Building will help you achieve financial success and true wealth.
×

Tell us where to send your 2 video guide showing UNCOMMON strategies for ACCURATELY calculating how much you need to retire…



Free video tutorial
×

Tell Me When The Course Is Ready!

You’ll learn how to make more by risking less.


×

Tell Me When The Course Is Ready!

You’ll learn how to calculate your retirement number with confidence.


×

Hey, I understand that buying this course is an important decision. That’s why I let you…

Test Drive The Course – FREE!
Get 5 Sample Lessons Immediately

  • No cost or obligation.
  • No hooks or gimmicks.
  • The goal is to let you experience the quality for yourself.
  • I just need your email address to send them to you.
  • You can unsubscribe anytime.
Yes! Send me 5 sample lessons
No cost or obligation. Quit any time.
The only way you lose is by not trying.
×

Take your financial strategy to the next level…

Get 5 FREE Video Lessons With Uncommon Insights To Accelerate Your Financial Growth

  • No cost or obligation.
  • No hooks or gimmicks.
  • The goal is to let you experience the quality for yourself.
  • I just need your email address to send them to you.
  • You can unsubscribe anytime.
Yes! Send me 5 sample lessons
No cost or obligation. Quit any time.
The only way you lose is by not trying.