Mentors Are a Shortcut to Riches

24% of the wealthy in my Rich Habits Study had a success mentor. Of this 24% however, 93% attributed their wealth to the fact that they had a success mentor.

The average saver/investor in my study accumulated $3.3 million over a period of thirty-two years. The average wealth of the rich in my study who were mentored, however, was $4.6 million, which they accumulated over eighteen years.

So, mentors not only shortcut the accumulation of wealth, they dramatically increase how much wealth you accumulate.

Success Mentors teach you what to do and what not to do. They steer you in the right direction, helping you avoid mistakes and obstacles. They offer valuable feedback, so that you can improve your skills. They share their wisdom and experience, helping you solve problems.

How and where do you find mentors?

• Work – The easiest way is to find someone at work, who is outstanding at what they do, and regularly pick their brain and experience.
• Networking Group – Networking groups are a great way to meet new people both within and without your field of expertise. Over time, your relationships will grow stronger and you will be able to identify outstanding individuals who can act as your mentor.
• Local Non-Profits – Volunteering at coal  community-based non-profits or civic organizations will introduce you to individuals who can become your mentors in life. Many wealthy, successful individuals sit on the boards of these non-profit organizations or work in the various committees that every non-profit has. In these nonprofits you will find that outstanding individual who can act as your mentor.
• Trade Groups – Trade groups or trade organizations are another source for mentors. Getting involved in these trade groups will expose you to many individuals who are leaders in their industry. They have industry-specific wisdom and experience.
• Books – You can find mentors in books. Biographies of successful people share the life stories of these successful people. They also sure the pitfalls and obstacles they had to overcome. This not only helps you identify the potential obstacles and pitfalls you’ll face, but also the solutions to them.

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