Wealthy Mindset: Let’s Face Reality


By Jason Ray

Wealth can change your life. 
The definition of wealth varies for many. Freedom, time, and money are important variables that make up the definition of wealth. Attaining these 3 variables is not easy and is never complete, but having the right mindset is important to progress towards each. Specifically, a wealthy mindset is critical for this progress and it involves four pillars: framing, brainstorming, taking action, and evaluation. This essay will explore these four pillars in an effort to provide you with a wealthy mindset framework. 
Money plays many roles in your life. Take a moment to think about all the different ways money has impacted your life. Some examples may be your shelter, your mental and physical health, or your education. 
Framing money’s impact on your life is the first step to creating a wealthy mindset. Write down a short list of things you would with access to an unlimited amount of money. Some examples may include: 1) traveling to experience other cultures 2) purchasing land and real estate and 3) donating funds to important causes like racial justice and curing various forms of cancer. 
Keep your list handy. 
Brainstorming ways to create income is next logical step to achieve the items on your list. There are four primary ways to generate income in our society. 
1. Get a job. Companies will pay you hourly or a salary and may provide health and retirement benefits in exchange for your time to advance their desires or mission. 
2. Do freelance work. Similar to having a job, but you can control the time spent making money. 
3. Start a business. You can create a business around your purpose, ideas, or skills. Your income will be dependent on your ability to grow the business while your health and retirement benefits are your responsibility.
4. Invest in things that pay you. This can range anywhere from stocks to cryptocurrency to real estate. Investing is the only item on this list that can provide passive income. 
Craft the different ways that you can generate income from this list and take action! Once income starts flowing from bullets 1-3, it is important to find and make the right investments to position yourself for passive income generation. 
Every investment comes with a risk/reward probability that should balance how aggressive the items on your list are versus your total amount of money invested. For example, consider a list item to end world hunger but you don’t currently have any money invested. If you select investment with optimal risk/reward probabilities, you will likely have a better chance to achieve the items listed. Keep these three things in mind when developing an investment framework. 
Invest in things you understand
Simplicity drives optimal investment outcomes
Invest in things you believe in
Find ways to get quality data and information
Once you begin executing your money-making channels and acting within your investment framework, you should begin to evaluate the impact of both actions. The last step to solidify a wealthy mindset is to evaluate and project the growth of your money and make a plan to fully detach your time from making money at some point in the future. Said another way, stop working for money and let your money work for you while you accomplish the things on your list. This is the zenith of a wealthy mindset! 
Jason Ray is the founder & CEO of Zenith Solutions. Jason grew up in Michigan and attended Princeton University.  After college, Jason pursued a career in financial services at Lincoln Financial Group, FS Investments, and Carnegie Wealth Management. 
Jason believes that effective wealth management techniques should not be unique to high net worth individuals. Jason founded Zenith to deliver accessible and actionable wealth advice to young professionals and minorities. He currently lives in Philadelphia with his wife Rukiya and dog Coco.