Section I Seven Steps to Financial Abundance
- Chapter 1 Secrets of A Self-Made Millionaire 3
- Chapter 2 Seven Steps to Financial Abundance 17
- Chapter 3 The Nine Habits of Self-Made Millionaires 23
Section II Cash Flow Strategies of the Rich
- Chapter 4 How the Rich Manage Cash Flow 61
- Chapter 5 The Four Levels of Wealth 71
Section III How to Massively Increase Your Income
- Chapter 6 Commanding the Highest Price Tag 89
- Chapter 7 Time is Money… Here’s How to Maximize It 109
- Chapter 8 How to Magnify and Multiply Your Income in Any Career 121
Section IV Creating Multiple Streams of Income Online
- Chapter 9 Building a Lucrative Business Without Quitting Your Job 147
- Chapter 10 Turning Your Passion into Lifetime Streams of Income 159
- Chapter 11 Secrets of Building a Profit Generating Website 181
- Chapter 12 How to Attract Tons of Paying Customers Online 203
Section V Managing Money & Controlling Expenses
- Chapter 13 The Number One Principle of Self-Made Millionaires 225
- Chapter 14 Strategies to Manage Your Money & Control Your Expenses 231
Section VI Building Your Million-Dollar Net Worth
- Chapter 15 Growing Your Money at Millionaire Returns 245
- Chapter 16 Getting a 12.08% Return Risk Free? 267
- Chapter 17 Winning with Mutual Funds 275
- Chapter 18 How to Pick Stocks Like Warren Buffett 287
- Chapter 19 The Eight Criteria of Buying a Great Business at a Great Price 319
Section VII Your Millionaire Master Plan
- Chapter 20 Designing Your Millionaire Roadmap 341
About Adam Khoo
Adam Khoo is an entrepreneur, a bestselling author and a peak performance trainer. A self-made millionaire by the age of 26, he owns and runs three businesses with a combined annual turnover of
$20m. He is the Chief Executive Officer of Adam Khoo Learning Technologies Group Pte Ltd, one of Asia’s Largest Public Training Companies and Education Group.
Chapter 1 Secrets of A Self-Made Millionaire
The Greatest Money Making Asset That Will Make You A Fortune
it’s not your double degree, MBA or PhD. from the best universities. And no, it’s not the inheritance the ‘lucky’ get from rich dad, rich uncle or rich grandma to kick-start their business.
It is this one single asset that will generate for you unlimited wealth. This asset is your mind, also known as your intellectual asset!
When you invest time and money to expand your knowledge and skills, especially your financial education, it will return you millions of dollars in income streams for the rest of your life! And that is exactly the purpose of this book, to massively increase the power of your intellectual asset.
At the age of 26, I became one of Singapore’s youngest self-made millionaires (despite being in the army for two and a half years). As a result, I was featured in almost every major newspaper and TV
channel in the country. (You can view these press reports at www.adam-khoo.com). Today, at the age of 31, I own three businesses with a combined turnover of over $20 million and personally earn
over $936,000 a year, half of which come from my investments. And I created all this wealth starting with virtually nothing but the ideas in my head... the same raw material that you too have been blessed with. I did it without a single dollar in inheritance, no bank loans or any external investments.
—白手起家全靠腦子
it was during those days that I learnt how to overcome shyness and the fear
of rejection... two important traits of becoming rich. —在互聯網時代，不一定如此，非必要條件
I learnt that by modeling the mindset and strategies of anyone of excellence, I could produce the same outstanding results within a short period of time.
I knew that if I wanted to achieve my dream of becoming a millionaire by the age of 26 (one of my
goals), I had to learn the strategies of wealth creation. So from the age of 15, I started to get obsessed with reading books on ‘how to make money’. —目標感強
One of the first books I read which influenced me tremendously was ‘Think and Grow Rich’ by Napoleon Hill.
My Very First Business Setting Up a Mobile Disco
作者第一份創業是開設移動迪斯科舞廳，一開始是同學參加，後來連父母也用這個服務
The only reason is because they know how to play the game of money whereas most people have not learnt how the game is played
Chapter 2 Seven Steps to Financial Abundance 17
Step 1: Adopt the Million-Dollar Mindset
Step 2: Set Clear Financial Goals
Step 3: Create A Financial Plan
Step 4: Massively Increase Your Income
Step 5: Manage Your Money & Reduce Expenses
Step 6: Grow Your Money at Millionaire Returns
Step 7: Protect Your Fortune
Chapter 3 The Nine Habits of Self-Made Millionaires
Wealth must first be created in the mind before it can be manifested into physical reality.
Take the irrepressible real estate tycoon, Donald Trump (host of ‘The Apprentice’).Trump lost his entire fortune when property prices crashed in the early 1990s during a recession and he ended up US$935 million in debt. Down, but not out, Trump hauled himself up from the pits to triumphantly make a US$3.7 billion fortune, all within ten years! Why didn’t such a crushing failure crush him completely? Because wily Trump of ‘The Art of the Deal’ fame, knew that he may have lost everything physically, but his true wealth did not lie in what he has stashed in his bank, it lay in his mind.
Millionaire Habit 1: Always Exceed Expectations
The Value Reducers
I have discovered that people fall into three categories. In the first category are those who have the habit of doing less than what is expected. Their patterns are reflected in the fact that they probably write down three or four reasons. When you ask them why, they usually come up with excuses like, ‘I could not think of more’ or ‘I had no time’. Because of this pattern of thinking and action, these people do not add any kind of value to their company department. In fact, they tend to reduce the value their company creates. These are the people who, when asked to do ABCD, will end up doing just A and B, forgetting or screwing up C & D. Although they are paid say, $2,000 in salary, they only give $1,500
in value. As a result, they are a liability, a burden to the company. There are always a couple of these individuals in every organization. Have you encountered one before?
The Value Creators
They are called value creators because they create value for companies.
Do Exactly As Expected, And You Will Soon Be Out of Business
So how do you make huge profits and become a millionaire in business today? The answer is that you have to go way beyond your client’s expectations. — 無論作爲員工還是做生意，都要做到超出預期
Millionaire Habit 2: Be Proactive
These people exhibit the reactive mindset. People with the reactive mindset have the habit of waiting for things to happen to them. They tend to act only in reaction to others’ actions. As a result, they have a lot less control and choices over results that affect them
Millionaire Habit 3: Take 100% Responsibility
Don't give excuses to yourself
Millionaire Habit 4: Delayed Gratification
Instant gratification is the habit of always wanting to enjoy now and not having the patience to wait for future benefits. As a result, these people spend a lot more than they invest.
On the other hand, all millionaires adopt the habit of ‘delayed gratification’
when it comes to investing, they do not think twice
Instead of partying, I would spend all my holidays taking up speaking engagements to hone my presentation skills, reading investment books, analyzing company reports and writing chapters of
my first book. I knew that by ‘sacrificing’ my immediate enjoyment, the rewards in the future would be tremendous!
On the other hand, whenever I go to a bookstore, I think nothing of spending $800 buying a whole series of marketing
Millionaire Habit 5: Do What You Love
People become the best at what they do only because they eat, sleep, breathe, talk and think their business eighteen hours a day (sometimes, they even dream about it as they sleep). In other words, they are obsessed with doing what they do and are constantly finding ways to do it better. And the only way you can become totally obsessed and committed towards something is when you have a love and passion for it! All successful individuals have one thing in common. They love what they do.
they do not distinguish work from play.
I love writing, developing curriculum and most of all, I love training and empowering people.
While people are out there partying and celebrating the start of the New Year, I am in my office getting this book finished so it can be published in early 2006.
Every successful millionaire I know has a love and obsession for what they do.
Haven’t you noticed that whenever you are doing what you love, the energy never stops? It’s
like no matter how tired you are, you will always find the energy to do what you love. Well, this is the secret that will lead to your success and wealth!
You see, many people have the mindset that they have to work very hard in life in order to become rich. They have got to force themselves to be disciplined and motivated. They believe that when they eventually make enough money, they can finally do what they love to do and enjoy their lives.
Instead, you must do what you love to do now! Not only will you begin to enjoy your life and be happy but you will suddenly find the natural energy and motivation that will drive you to give your best and become the best. When this happens, the money will automatically follow.
To find the answer, just ask yourself this question, ‘If I had all the money in the world, would
I still be in this career/business?’ If the answer is ‘yes’, then it is truly your passion.
The second question that people always ask me is, ‘just because I love something, can I always make money from it’? ‘What if my passion has no market value’? The answer is ‘yes’! You can always
make a highly lucrative career out of any passion! You only need to learn how to make it marketable and learn how to commercialize it!
Millionaire Habit 6: Acting with Integrity
The truth is that most self-made millionaires share a common habit of personal integrity. Interestingly, in the best-selling book ‘The Millionaire Mind’, author Thomas Stanley interviewed 733 multi-millionaires and asked them what were the key factors that contributed to their wealth. Ranked number one was ‘being honest with people’.
Millionaire Habit 7: Be 100% Committed
Studies after studies have shown that people who achieve phenomenal success and wealth did not just want it, they were 100% committed to achieving it.
When something is a MUST, it will become your number one priority and nothing will ever come in its way until that goal is accomplished. When something is a MUST, you will do whatever it takes to get it.
you will ALWAYS find a way
I can bet you that when you begin on your path to financial freedom, there are going to be huge obstacles and challenges that will get in your way. All the problems that you can possibly think of will come to test your faith and endurance and to stretch you out of your comfort zone.
Let me give you another example. Have you ever had a list of goals to achieve or actions to take, but kept putting them off? I’m sure you have, as it is pretty common to procrastinate. Did you eventually get some of them done? Why? Why is it that you eventually got some things done but not the rest? I would bet that those things that you got done eventually became a must for you! It eventually crossed the deadline and you HAD to get it done.
The trouble is that becoming financially abundant is rarely a must for most people. It is merely a wish.
—真理，苟活也是活
Millionaire Habit 8: The Ability to Turn Failure into Success
So mark my words, you will fail many times before you ever succeed. What’s important is what you do about failure. This is the critical habit that makes the difference between the rich and the poor. There are three ways people respond to failure.
Success is the result of good judgment. Good judgment is the result of experience. Experience is the result of bad judgment – Anthony Robbins
He went back and changed his strategy
Millionaire Habit 9: Respect & Love Money
不要覺得賺錢 恰飯是件可恥的事
Chapter 4 How the Rich Manage Cash Flow
The True Definition of Wealth
A person’s wealth is actually defined by how long a period of time he/she can sustain their lifestyle if they stop working. The longer you can go on living your life without working another day, the richer you actually are. Your wealth is therefore defined by three things: (1)your monthly expenses, (2)your liquid assets and (3)your passive income.
Assets are physical or intangible items that you own. They can be classified into Positive Cash Flow Assets (Assets Cash+) or Negative Cash Flow Assets (Assets Cash-).
The trouble is that they tend to use these savings to buy a lot more negative cash flow assets as compared to positive cash flow assets.
They have in fact, even less financial stability or security. If they lose their jobs or suffer a pay cut, they will end up with huge loans, large monthly expenses and deep in debt.
Chapter 5 The Four Levels of Wealth
Level 1: Financial Stability
You have achieved Financial Stability when:
-
You have accumulated enough liquid assets to cover your current expenses for a minimum of six months.
-
In addition, you have life and hospitalization insurance to protect you and/or your family’s lifestyle should you be permanently disabled, unable to work or if you pass away suddenly.
When you have attained this first level, you will have the peace of mind that should any unexpected challenges befall you (like retrenchment, business failure, pay cut, death or disability), you and
your family’s lifestyle will not be compromised. Or worse, you or your family will not slide into debt.
Attaining this first level will also ensure that you or your family will have adequate time to look for new sources of income to put you back on track. At the same time, you will also have the financial
stability to quit your job and invest your time to build a business,should you need to.
Level 2: Financial Security
accumulated a critical amount of Positive Cash Flow Assets that generate enough passive income
to cover your MOST BASIC expenses. In other words, when you reach this level, you can stop working and maintain a very basic lifestyle.
Level 3: Financial Freedom
passive income to sustain your CURRENT LIFESTYLE.
Level 4: Financial Abundance
Abundance is when you have through the investment of time, money and ideas, accumulated a critical amount of Positive Cash Flow Assets that generate enough passive income to sustain your DESIRED LIFESTYLE.
Chapter 6 Commanding the Highest Price Tag
When I talk about massively increasing your income, I don’t mean a mere appreciation of 5%, 10% or even 20%, I am talking about doubling your income or even increasing it by three to five times, all within 12 months! Is this possible? Yes it is! And you can achieve this without quitting your job.
How? By not just focusing on your single, primary source of income, but taking action to create for yourself additional streams of income.
The rich never depend on one stream, but have multiple streams. The only way I was able to make my first million by the age of 26 was that I focused on creating as many streams as possible.
And that is why I focus on creating two additional streams every year. — 每年增加兩個收入來源
What Determines A Person’s Income?
none of this is really accurate.There are so many examples of people who are younger, less
academically qualified with less experience who are earning much more than a 45 year-old Harvard MBA graduate who happens to be a member of MENSA.
The True Definition of Income
A person’s income is determined by the amount of value he/she creates multiplied by the time he spends creating value multiplied by the scalability factor.
INCOME = VALUE x TIME x SCALABILITY
Your Income is A Refection of the Value You Create
Let’s first focus on how your income is determined by the value you create.
I saw a Sony Ericsson 910i model that had a price tag of $1,400 and a Nokia 2600 with a price tag of
$238. Now, why is one mobile phone priced seven times more than another? The answer is simple. It’s because one phone has a lot more functions and can hence create a lot more value to the user.
Similarly, there are only two ways you can create value for your company. Either:
-
Help the company increase sales or
-
Help the company to reduce costs.
INCOME = VALUE CREATED FOR CLIENTS/COMPANY
Chapter 7 Time is Money… Here’s How to Maximize It
INCOME = VALUE x TIME
There are some activities that create high value while some activities are low in value. In fact, I have
discovered that most average income earners spend only about 20% of their workday doing truly high value added activities while they spend most of their time, about 80%, on low value activities like
checking email, attending unproductive meetings, chit chatting, complaining, waiting, finding lost items...
Chapter 8 How to Magnify and Multiply Your Income in Any Career
Why then is Madonna paid 100,000 times more than a heart surgeon? What does Madonna have that the typical heart surgeon does not have? The answer is the ‘scalability factor’.
The scalability factor is the final and most powerful component of the income formula.
INCOME = VALUE x TIME x SCALABILITY
Strategies to Scale Your Value Immediately
#1 Earn Royalties and Fees from Licensing Or Selling Your Intellectual Property
Selling Information…The Ultimate Product of the New Economy
The great thing about selling information is that the raw material is free.
they are knowledge and ideas you have accumulated in your head! Even if you cannot find enough good information, you can keep enhancing your knowledge by acquiring tons of new ideas and knowledge for free from the internet!
What I know is the result of reading hundreds of books, articles & magazines and modeling the best brains over the years! But my interpretation and perception of all this information is uniquely mine.
Is My Information Really Valuable?Do I Really Have Anything that People Would Want to Buy?
Many of the things you know and the skills you have you probably take for granted. You would be surprised how many people would love to be able to know and do some of the things you do.
Bert Ingley who is an expert at playing sports computer games sells his knowledge by writing an ebook on his game playing tactics and strategies and offers it for sale on his site www.vgsportsinc.com
at US$19.95. In this book, he teaches enthusiastic gamers worldwide how to win at Madden NFL, an online football game. With the worldwide reach of the net, he earns an income of US$187,000 a year!
Steph Bairey has turned his knowledge and love of Iguanas into an additional income stream. He sells a Lizard Care ebook on his website www.practical-pet-care.com and earns profits and royalties
every time this book is downloaded. His cost? Free! His profit margins? 100%! In addition, he has leveraged on the success of this book by creating and selling other pet care books for cats, dogs,
ferrets, fishes, birds, spiders and so on.
#2 Magnify Your Value By Reaching More People at One Time
#3 Earn Recurring Commissions from Sales or Referrals
The third strategy is to multiply your value by earning
#4 Earn Profits, Dividends & Royalties from Businesses
The fourth strategy is to use the power of a business to multiply your values.
When you build a business around your value, you will be able to provide your services to more and more people.
Chapter 9 Building a Lucrative Business Without Quitting Your Job
The best way to achieve this is to start a business based on your passion... meaning what excites you will drive you.
With an Internet business, your market is the world of 935 million Internet users and this number is increasing exponentially every single year.
the power of scalability
However, before we learn how to turn our ideas into profits, it’s important that I dispel some common myths that people hold about Internet businesses.
#1 Making Money Online is Just A Big Hype
#2 Running An Internet Business is Easy
The truth is that there is no such thing as easy money. Building a profitable Internet business takes time, commitment and hard work.
However, the good news is starting and running an Internet business is relatively much easier than a traditional business because you have lower startup costs, overheads and no employees.
#3 You Can Make Lots of Money Fast
When people think that they are going to rake in thousands of dollars in a few months for little effort, they invariably get sorely disappointed, impatient and give up.
Successful Individual Home-Based Internet Entrepreneurs
Bert sells an ebook (US$19.95) teaching gamers the secrets and strategies of how to win at Madden NFL, a sports video game.
Chapter 10 Turning Your Passion into Lifetime Streams of Income
In fact, building a profitable online business follows the exact same principles as building any kind of business! It takes careful planning, commitment and consistent action!
Step1 Identify Your Passion & Expertise
Know that the main reason people come online is not to buy a product or a service, but to look for information to solve their problems or achieve their goals. By focusing on an area of passion and expertise, you will be able to talk passionately about the topic and position yourself as the expert! You will be able to offer something better than what competing online businesses are offering because you know the topic so well.
Once people feel you are credible and they benefit from your (initially) free information, they will then be willing to pay to get more value from you.
Step2 Find a Hungry Niche Market
it must be a ‘niche market’ not a ‘general market.’
A niche market is easier and cheaper to dominate, as it is easier to position yourself as the best in that particular category and cheaper to advertise in.
Step3 Size Up the Competition & Profit Potential
Find Keywords that Have High Demand and Low Competition
They are measured by what is known as a KEI (keyword effectiveness index).
The more of these high KEI keywords you find and use, the more cheap traffic you can buy through advertising. S
Step4 Create Products and Income Streams
Chapter 11 Secrets of Building a Profit Generating Website
c. How to Write Powerful Headlines
This formula of starting with ‘How...’
‘Don’t Buy Another Car Until You Read these Facts.’
Chapter 12 How to Attract Tons of Paying Customers Online
Chapter 13 The Number One Principle of Self-Made Millionaires
Chapter 14 Strategies to Manage Your Money & Control Your Expenses 231
6 Ways to Massively Reduce Your Expenses & Increase Your Savings by 20%-30%
-
Study Your Monthly Expenses
-
Pay Yourself First 存款
-
Stop Before You Buy & Procrastinate
-
Destroy All your Credit Cards but One
-
Plan your Purchases... Only Buy at a Discount
-
Treat it as a Business Expense
Chapter 15 Growing Your Money at Millionaire Returns 245
Your Four Money Baskets
- Security Basket (Target Return of 1.5%-4.5% pa)
This first basket is, as the name implies, for your security.
The funds in this basket grow just enough to keep pace with inflation.
This basket should include cash, fixed deposits/certificates of deposits, personal housing, insurance & capital guaranteed funds.
2. Growth Basket 1 (Target Return of 8.57%-20% pa)
This is the basket where you build your net worth & positive cash flow assets that will lead you to financial freedom.
This basket is where you put your money into index funds, Exchange Traded Funds (ETFs) and mutual funds.
- Growth Basket 2 (15%-25%)
This is the basket where you ACCELERATE the building of your net worth & positive cash flow assets that will lead you to financial freedom.
This basket is where you put your money into a winning portfolio of ten to twelve company stocks. And again, you should hold some Asian stocks as well as US stocks.
- Luxury Basket (0%)
Allocating Your Funds to the Four Baskets
Chapter 16 Getting a 12.08% Return Risk Free? 267
How Do I Buy Stocks of the 500 largest Companies in the US?
Alternatively, you could buy an Exchange Traded Fund (ETF) that tracks the S&P 500 index.
Question 1: When do I buy?
So when do you know? The stock market is overvalued and is at the top of a boom when Price-Earning Ratios (PEs) of stocks are generally very high, like in their 40s, 50s, 60s and above. Before the crash of 2000, PE ratios of some stocks were as high as 300!
Question 2: When Do I Sell?
So when do you sell your index funds? You hold them AS LONG AS POSSIBLE. The longer, the better.
However, if the stock market is overvalued or at the top of a boom, SELL EVERYTHING! When the market crashes (and it always will after the boom), BUY EVERYTHING BACK.
Question 3: How and What Kind of Index Funds Can I Buy?
Chapter 17 Winning with Mutual Funds 275
The Secret to Winning in Mutual Funds
The answer is in knowing how to find mutual funds that have been consistently beating the S&P 500 for the last ten years and at the same time, have the lowest management fees and the lowest volatility!
Chapter 18 How to Pick Stocks Like Warren Buffett 287
Belief #1 The Market is Irrational. Stock Prices Do Not Always Reflect the True Value of a Company
Warren believes that the irrational pricing of stocks gives him the perfect opportunity to make money.
可以實踐，買價值被低估的股票；價值不是看股票單價，而是市值
Belief #2 Predicting the Market’s Next Move has Nothing to Do with Investing Success
Belief #4 It is Better to Concentrate My Funds in a Few Great Companies
focusing only on a few great companies and taking huge positions in them
The Strategy of the Master Investor
Step 1: Identify Very Good Businesses
Step 2: Buy Them Only At A Huge Discount
Step 3: Wait for the Market to Realize a Stock’s True Value or Overvalue It.
Chapter 19 The Eight Criteria of Buying a Great Business at a Great Price 319
可見聯通就不太行
Chapter 20 Designing Your Millionaire Roadmap 341
Over the last nineteen chapters you have learnt how to think like a millionaire. You have learnt how to massively increase your value and how to create multiple streams of income. You have also learnt the art of managing your cash flow and creating a personal financial plan. You discovered how anyone with a great idea can tap into a huge world market with the power of the Internet. Finally, you learnt the secrets of how master investors generate millionaire returns from the stock markets.
For example, if your goal is to achieve financial abundance in five years with a $20,000 a month lifestyle, then the strategy and action plan you will have to take will be very different than if your goal were to retire in fifteen years with a $10,000 a month lifestyle.
The Power of Designing Your Destiny
road map
the combined income of the three percent who had clear goals was greater than the entire income of the ninety seven percent combined!
It was after he suffered a terrible crash that he began to change his mind about that career.
As a result of his focus on pushing himself to be the best in anything he did, he became a millionaire by the age of 28.
The Five Keys to Designing Powerful Goals
a. Specific & Measurable
b. Stretch & Challenge You
The reason why most people don’t get motivated towards their goals is because their goals are not exciting enough.
The most common excuse people have for not daring to aim high is the fear that they are ‘not being realistic’.
But because I was willing to do things differently and model the strategies of self-made millionaires, my goal WAS realistic.
c. Driven by Powerful ‘Whys’
Another main reason why many people lack the motivation to achieve their financial goals is because they are not clear about WHY they want it.
‘why is it important for you?’, I find many lack a compelling reason.
Everyone has got different key emotions or hot buttons that drive them. These key emotions are called our values! Some people are highly driven by the value of ‘recognition’ and ‘winning’ (i.e. Donald Trump).
The thought of betting and winning on huge deals is what fires him up everyday. The money he earns is just a way he measures his winnings. Some people are driven more by the value of ‘security’ (i.e. Warren Buffett)
So, you have to ask yourself what key values drive you in life? Are you driven by recognition, security, freedom, family, God, friendship, love, power or a sense of contribution?
you have to write down all the reasons why this is really important to you. Only if your reasons
are aligned to your core values will you be truly driven to achieve them.
d. An Action Plan
e. A Deadline
Designing a Personal Road Map
So,what should you do with all these goals you have set?The typical person would get excited for awhile, then put it aside and it’s all forgotten after a while and go back to living their life the way it
always was.
If you want to stay focused on these goals, then you have to look at them every day. —所以用notion記錄，不忘記
I also cut out pictures (from magazines) of stuff that I dream of buying and
stick them on my flfl owchart. For example, I used to paste a picture of
a beautiful two-storey house next to ‘Age 33’. —每日晨間日記，夢想指數
a. Make a Public Commitment
b. Have a 36-hour Action Plan
However, you will find that the moment you take the few steps and start seeing progress, you will gain the momentum to continue until the goal is accomplished.
c. Find a Support Group
to find a supportive group of friends.
The Power of a Wealth Builder Group
they all belonged to a strong support group of like-minded individuals where they received the knowledge, advice, resources, contacts and emotional support to succeed in their creation of massive wealth. Yes. It has been proven time and again that behind every s
Final thoughts
With all the knowledge, lessons and strategies you have acquired in this book, the only thing that will stop you from achieving unlimited wealth is the lack of consistent action.