How to Become Wealthy By Mel Feller, MPA, MHR Mel Feller Seminars, Coaching For Success 360 Inc. /Mel Feller Coaching Napoleon Hill, in his great book, Think & Grow Rich, describes the six steps to turn your “desires into gold.” First: Determine exactly how much money you want to accumulate. Second: Determine exactly what you will do to get this money. Third: Establish the date by which you will do this. Fourth: Create a definite plan to accumulate this money. Fifth: Write out a clear, concise goal statement. Sixth: Keep your goal statement at the top of your mind.

1. How to Become Wealthy
By Mel Feller, MPA, MHR
Mel Feller Seminars, Coaching For Success 360 Inc. /Mel Feller Coaching
Napoleon Hill, in his great book, Think & Grow
Rich, describes the six steps to turn your “desires
into gold.”
First: Determine exactly how much money you want to accumulate.
Second: Determine exactly what you will do to get this money.
Third: Establish the date by which you will do this.
Fourth: Create a definite plan to accumulate this money.
Fifth: Write out a clear, concise goal statement.
Sixth: Keep your goal statement at the top of your mind.
Here is an example:
To learn how to get rich, you'll want to create a budget. Yes, even the rich have budgets!
How to Become Wealthy by Mel Feller

2. The average person has a lot of financial stress and may be dealing with student loans, credit
card debt, a mortgage, car loans, and sometimes even other forms of debt.
However, not many people have a budget. In fact, more than 60% of households in the U.S. do
not have a budget.
Budgets are great, because they keep you mindful of your income and expenses. With a
monthly budget, you will know exactly how much you can spend in a category each month, how
much you have to work with, what spending areas need to be evaluated, among other things.
Remember, even those with high incomes have a budget. The rich stay rich because they have
learned how to manage their money better than the average person, which includes being
aware of your spending and saving.
When creating your budget, be sure to include all of your income and expenses.
Here are some expenses you may want to include when creating a budget, but do not forget
any expenses you have that are not listed:
Home – House payment, rent, maintenance, utilities, insurance, property taxes, etc.
Car – Monthly car payment, gas, maintenance, insurance, and license plate fees, and so on.
Television, cable, Netflix, Hulu, etc.
Cell phone.
Internet.
Food – Groceries, restaurant spending, snacks, etc.
Clothing.
Entertainment – Entertainment can include many things, such as going to the movies, going out
for drinks, concert tickets, sports, and so on.
Charity – If you regularly donate to charity, then this should be an area you budget for.
Savings funds – This can be for your retirement fund, wedding, travel, etc.

3. Taxes – If you are self-employed, then taxes may consist of a large part of your budget.
Health insurance.
Miscellaneous – Pet expenses, fees, childcare, school, gifts, etc. Let us say you want to retire in
30 years with $1 million. You find that you can expect to earn 8% per year by investing in an
index mutual fund. Using your handy spreadsheet or financial calculator, you determine that
you need to invest $667 each month.
Here are the easy steps to take so that you can start investing yourmoney:
Start saving your money. In order to invest your money, you need to start setting aside money
specifically for it. The amount of money you save for investing is entirely up to you, but in
general, the more the better.
Do your research. Before you start dumping your money into the stock market and other
investments, it is a good idea to know what you are putting your money towards. Reading
about various investment-related tips and research will help you become more informed about
your investing decisions, which will then help you make better decisions well into the future.
Find an online brokerage or someone to manage your investments. There are two main ways
to invest your money. Either you can invest your money yourself through a brokerage or you
can find someone to manage your investment portfolio for you. You will need to take part in
one of these options to actually start investing your money. Personally, I like to do everything
myself through Vanguard.
Decide how you will invest. Now that you have opened an investment account, you will want
to decide where you will put your investments. How you invest depends on your risk tolerance,
the time for which you are investing (when will you retire?), and more. Generally, the sooner
you need your funds the less risk you will take on, whereas the longer your time period is, then
the more risk you may be willing to take on.
Track your investment portfolio. The next step when learning how to get rich by investing is to
regularly track the things you have invested in. This is important because you may eventually

4. have to change what you are invested in, put more money towards your investments, and so
on.
Continue the steps above repeatedly. To invest for years and years to come, you will want to
continue the steps above repeatedly. Now that you know the steps it takes to invest your
money, it only gets easier.
Do you have $667 each month to invest? Before you answer “no,” read about The Richest Man
in Babylon. Now, if the answer is still “no,” what can you do to get it? Can you cut spending
somewhere? What can you do to pick up a few extra bucks?
Successful people do what unsuccessful people. If you want it badly enough, you will find a
way!
Mel Feller, MPA, MHR, is a well-known real estate business consultant and speaker, specializing
in performance, productivity, and profits. Mel is the president of Mel Feller Seminars with
Coaching For Success, Inc. and Mel Feller Coaching, a real estate and business specific coaching
company. His three books for real estate professionals are systems on how to become an
exceptional sales performer. His four books in Business and Government Grants are ways to
leverage and increase your business Success in both time and money!