Wealth Building

Building Wealth – Use This Tool Build Wealth and Make Money Fast

Here we are going to look at a specific way for anyone can use to make money fast and start with small amounts. This is article will give you a step by step guide anyone can use to build wealth, if they are prepared to learn and apply the knowledge.

The tool to use is leverage.

Let’s assume you have some capital $5.000 and you open a trading account with it and you can immediately leverage it up to $1 million dollars. Can anyone do this?

The answer is yes!

By opening an account to trade currencies. You may say I know nothing about trading currencies and its hard and risky, well consider this fact.

Anyone can learn to trade currencies and this example will demonstrate the potential.

The turtles

You have probably never heard of them but in the eighties in a famous experiment legendary trader took 23 traders from all walks of life and taught them to trade financial markets in just 14 days – he then allowed them to trade.

The result?

They made over $100 million dollars for Dennis and the turltes went on to become some of the most famous traders of all time.

How did they do it?

Dennis taught them a simple method they could have confidence in, a money management system to run profits and cut losses and the discipline to follow the system.

You can read more about the experiment in Market Wizards Jack Shwager (edit) and The Way of the Turtle by Curtis Faith.

Is it easy to do then?

The answer is yes and no – it depends on your mindset.

If you have the desire to make money and learn you can succeed.

Nothing in life is easy, when it comes to making money but there is a difference between something being easy and something being achievable.

Becoming a successful currency trader can be achieved by anyone, you may not become as rich as the turtles – life is simply not like that but you can make a lot of money.

Handling leverage is the key and putting it to your advantage. Leverage is a double edged sword it gives you big profit potential but where there are big rewards there is risk, so you must learn to cut losses and run profits and you can do this if you have a specific plan.

Getting started

All the information you need to trade currencies via technical analysis is available on the web and you can learn and practice a system before risking money in a real time demo account.

All you need to trade currencies is a desire to learn and apply what you have learned with discipline.

Anyone has the potential what separates out the successful traders is desire a willingness to learn the RIGHT knowledge and the discipline to apply it for long term success.

The Opportunity Awaits You

Trading global currencies is one of the few ways for trader’s to start with small stakes and get rich and it’s the frontier of the free market economy.

Anyone has the potential the challenge is do you want to realize your potential?

If the answer is yes – then look at this opportunity in more detail and you may be glad you did.

Wealth Building

The Golden Rule of Wealth Creation: Part 2

Building wealth is not rocket science. In fact, the process can be explained in one simple but powerful formula, an equation I like to call " The Golden Rule of Wealth Building ." Believe me, I've seen The Golden Rule in action many times during my career as a professional wealth planner, and it still amazes me. So if you are curious on how to get on the right path to financial success, read on.

In a previous post I explained the story behind how I came across the magical Golden Rule . Now I am going to show you how the formula works, and why it is the basis of all wealth building strategies.

To me, the Golden Rule is the Holy Grail of finance. Once you truly understand it, the process of creating wealth becomes clearer. The greatest power of the formula is its ability to tie lots of good financial advice together. In fact, much of today's financial wisdom comes directly from the Golden Rule .

Many Wealth Building Sources Repeat. What Gives?
If you are a fan of personal finance (like me), you may have noticed the handful of themes that keep coming up. If you take time to listen to a few financial experts, you'll see that even though their styles may be different, they all say pretty much the same thing. (To paraphrase Mark Twain: They don't exactly repeat, but they sure do rhyme.) That's because all wealth building boils down to just a few key components. The Golden Rule cuts out the noise and focuses on those key elements of wealth building.

So here is the Golden Rule again:

FW = CW × (1 + R) T Where FW = Future Wealth, CW = Current wealth, R = Return, T = Time

For those who hate math, don't worry. My focus here is to translate this math equation into PLAIN ENGLISH. And for those who have seen this formula before and are unimpressed right now, I totally understand. I once thought the same thing myself! Trust me; the more you think about the Golden Rule , the more you will appreciate its power.

Multiplication is the Fuel in the Wealth Engine Tank

So let's take a closer look at the actual formula. Translated into English, the formula says your future wealth (FW) depends on your current wealth (CW), your rate of return (R) and time (T). Probably the most important thing to notice is the formula is based on multiplication. In other words, wealth doesn't simply add up over time, it multiplies.

It is important to understand that wealth building is based on multiplication. Not only that, magic starts to happen when your multiplied wealth starts to multiply, a process known as "compounding." Compounding (or compound interest) is an amazing concept and a crucial piece of the wealth building process. It is rumored that Albert Einstein said, "Compound interest is the eighth wonder of the world." Whether or not Einstein actually said that or not (a debate on the author of the quote continues) I'm sure the brilliant physicist understood that the fuel that runs the engine of wealth is multiplication.

Only Three Ingredients in the Recipe for Wealth

Now let's take a look at the three main elements of the formula. You can find a mountain of material on each component, which is probably why many people find wealth building so intimidating. I'll try to keep things high level and simple, so as not to lose the forest through the trees:

  • Savings and Your Current Wealth: To get on the path to riches, you need to start somewhere. Many people start by saving a small amount of money. Your current wealth (CW) is the accumulation of past savings and investing. Saving is an important part of building wealth and probably the easiest concept to understand. Most of us were introduced to the idea of ​​saving as a child. (I'm sure many of you remember having a piggy bank jammed with birthday money, spare change, maybe a button or two.) Again, everything has already been written on the different ways to save. The bottom line is to regularly set aside some money and add it to your existing pile of savings or investments. Now, although saving is a necessary part of wealth building, very few people have made a fortune by squirreling away a part of their pay check every year. To build significant wealth, you need to mix in the other two ingredients: return and time.
  • Return: Your return is the money you earn on your long term savings or investments. As far as the formula goes, return (R) is undoubtedly the most unstable element. That's because return always has risk unpleasantly glued to it. There is an almost an infinite amount of investment ideas out there, with outcomes that range from slow and steady to crash and burn. Conservative investments are typically more stable, but returns are lower. Aggressive investments offer the chance of higher returns, but you have to stomach the rough ride and face the possibility of losing all your money. The key to a successful investment strategy is to choose the one that has the best return for the amount of volatility you are willing and able to take.
  • Time Horizon: The last main element of the formula is time (T). The goal here is pretty straight forward: Start saving and investing as early and consistently as possible. The earlier you start investing, the more heavy lifting the Golden Rule will do on your behalf. In other words, compounding will work more in your favor the earlier you start.

Now we are ready to see how the different parts mesh together to demonstrate the trade-offs inherent in wealth building. For example, it is possible to be conservative (low R) and build wealth; you just need to save more (increase CW) or start saving earlier (increase T). If you start saving and investing later on in life (lower T), you have to save more (increase CW) or rely more on returns (increase R). Practically every investment strategy out there today is the result of someone adjusting the levers of the Golden Rule machine.

So there you have it. The most powerful concepts in finance boiled down to one formula with three main ingredients. Again, the power of the Golden Rule is its ability to cut out the noise and have you focus on the key components of wealth building.

In practice, the formula explains the success story behind every wealthy client I have worked with over the years. The Golden Rule is the common thread among all successful investors. In future posts I will show you some examples of the formula in action. I'm sure you'll be amazed by how simply the Golden Rule works, just like I still am.

Wealth Building

Wealth Building 204 – Mutual Funds

Previously we discussed stocks, bonds, and cash as investment vehicles. I mentioned that, unless you have specialized knowledge in the financial industry and want to spend significant time conducting research on individual stocks and bonds, mutual funds are probably your best way to invest.

Mutual funds give you professional money management and allow for diversification even if you only have a little bit of money to start investing with. Most people who have company sponsored retirement plans like 401Ks, 403bs, etc. are invested in mutual funds and are somewhat familiar with them, but some may not be so I will discuss the different types of funds available.

In very simply terms, a mutual fund is simply a pool of money that is invested in a portfolio of securities (aka stocks, bonds, cash, or other investments). The mutual fund has a portfolio manager (or sometimes several) who are investment professionals and they make decisions on which securities will be purchased by the fund based on the particular fund’s objectives.

There are literally thousands of mutual funds out there to choose from and sometimes it can be a little overwhelming when trying to determine which ones to choose. I will spend quite a bit of time in following segments discussing that, but generally funds are categorized and there are many categories and even sub categories. For example a stock fund may specialize in large cap growth stocks or it may specialize in high yield bonds, etc. We will get into these categories deeper in later segments. Some even get as specific as investing only in certain segments of industry.

One key thing to think about when looking at mutual funds is fees. There are two basic types of fees involved in a mutual fund from a consumer standpoint. The first is commonly called a “load”. This is a sales charge from which the person or company who sold you the fund is paid a commission and the rest usually goes to marketing, etc… When that sales charge is assessed is usually determined by which class of shares you purchase.

There are several types of shares, but the most common are A, B, and C class shares. The sales charge on A shares is known as a “front end” load, meaning that you pay the sales charge up front. It’s usually a percentage of your purchase that can sometimes be as high as 5%. Charges for B class shares are known as “back end” loads. If you pull the shares out within a specified period of time you get hit with a deferred sales charge which is often prorated depending on how long you leave them in. Some companies offer C class shares which have an annual fee based on a small percentage (e.g. 1%) of the assets.

There are also “No Load” funds which do not charge these sales charges per se, but that doesn’t mean that you get a free lunch. With these you will pay management fees in some form or another.

The fees that a mutual fund can charge are regulated by the Securities and Exchange Commission and are covered in the fund’s prospectus, usually somewhere in the first few pages. You can hit the SEC’s website to get the most current information on these fees.

A quick word about the prospectus — it is required by law that your broker or the company you buy the funds from provides you with a prospectus when purchasing any mutual fund. In addition to outlining fees and sales charges, the prospectus is a wealth of information regarding the fund’s objectives, their investment guidelines, performance information, etc. It’s often very dry reading, but I highly recommend that you review it before making a purchase. If you are using a financial planner or a broker part of the services they should provide is to go over some of the more important parts of what’s in the prospectus. If they are not willing to do that in a way that you can understand I’d recommend that you look for another broker!

Wealth Building

7 Simple Steps to Financial Freedom and Wealth Building – Step 4

STEP 4: The Business Setup – Choosing the Right Partner

With advancement in technology, the options trading business can be easily setup with a few clicks of the mouse. Welcome to the online world of trading.

Equity trading is a serious business because it involves a lot of money – your money. It can build wealth and can also destroy wealth. Either you make money from the market, which belongs to someone else, or you lose your money to the market, which will benefits another trader. So please take it seriously because most traders and investors do not. So if you are serious, would you trust your business dealings to just about anybody? I hope not!

A business that does not have reliable partners typically will not succeed for the long term unless a new reliable partner is quickly identified. In the options trading business, brokers are our partners. As such, we would have to identify and be very selective in appointing the brokerage house to help us run this business.

With so many brokerage firms out there, it can be quite a tough and confusing for many of us. In fact, choosing the wrong broker can be expensive.

So we have prepared an easy way to shortlist these brokers. A good “business partner” should have:

Attractive commission rates – understand if it is fixed or if it depends on the number of trades. Low commission does not mean it is good.

High availability on their website – since almost all transactions are executed online. Understand contingency as well when website is down.

Fast Execution – a good opportunity may be gone if not executed fast.

After Hours Trading – if you like trading longer hours.

Sweep Facility – a good broker would automatically take your available cash to have it placed in a money market to generate interest.

No hidden fees – many brokers have all sorts of endless hidden charges. Do not take this nonsense.

Powerful trading Tools – like streaming real time quotes, screeners, stock charts, etc.

Wireless trading facility – most of the time for day traders

Ability to execute complex options trades – many brokers provide options trading but this is not good enough!

A good stock broker may not be a good options broker because options trading are relatively new. Although stock brokerage firms offer options trading, they are still behind in many of the services offered by brokerage firms that specializes in options trading. Once you understand options trading, which has more than 20 different trading strategies, stock trading looks like child’s play.

When selecting a brokerage firm, select the best to prevent any heartbreak later on. We have worked with several options brokers and, in our opinion, and are the best around. These two options trading firms meet the requirements above while many have failed to impress. Before proceeding to the next step, start working with the right partner. It only takes a short while to open a new account. This is an important decision.

Stay tuned for STEP 5 – Arm Yourself With Options Trading Knowledge

Copyright 2005 William Tan

Wealth Building

The Wealth Creation Guide

Wealth creation and wealth building are the latest trends today. Everybody has a deep desire to leave work and let their money multiply by itself. There is a need to let the passive income (money gained from outside your job) double itself and actively participate in the wealth creation process.

A passive income is an easy-to-spend tool that works for you, whenever you are in need of hard cash. It may be a rental, collected from your property, dividend earned from your stocks, interest from your investments, etc. Therefore the chief way to create and maximize wealth is to learn the tricks of creating a passive income through a portfolio.

As a motivational tool, you can use the following steps.

oBe determined

oFocus yourself

oDon’t overspend

oAn optimistic outlook helps

oGo ahead.

Steps to create wealth?

1. Chart out your worth

Make a detailed work out of your actual assets and liabilities. Once you are clear about your assets look for options where you can put your wealth. Financial instruments like real estate, stocks, shares, bonds, savings interest accounts, mutual funds etc. are the best investments that you can think of once you have calculated your asset value. You can also approach a wealth manager to detail you about various investment options open.

2. Start Building your portfolio early

You can start looking for options to save money from an early age. Remember that building a portfolio early can make you a rich person later. The earlier you start the sooner you gain financial independence. Taking timely advantage of dividend and interest yields can be a smart way to generate big bucks.

3. Set goals

Once you get serious about wealth creation you can start to think of the money you’ll need to buy a home. You can work out options about paying off your bills in time. You can also think of several short term as well as long term goals. Long term goals can also include generating money for retirement.

4. Discuss with experts

Look for the strategies that the experts have been adopting to generate money. Find out their investment criteria and the hot options available to invest in. If possible ask for the portfolio ingredients of experts and try to know where they are investing and why. This will smarten your portfolio too.

5. Make use of pension schemes

When your employer puts aside some money for pension and other long term needs try investing the amount in such a manner that it will multiply fast and you will feel better about it. You will be a rich man before retirement.

Check your portfolio time to time

As a smart investor you can have a re-look at your portfolio and shun the non performing assets for better bargains. There are a heap of certified financial planners available to you too. You can thus, take out the weeds in your investments and plant fresh saplings with a promise.

Wealth Building

Wealth Creation, Becoming Rich and the Purpose of Life: Stop What You're Doing and Consider This

This sounds like a peculiar title for an article. What has Wealth Creation got to do with the purpose of life you might ask? I'm gonna argue that it has a lot to do with it. Wealth Creation at its core signifies the creation of something of extended value. It's amazing how much mediocrity we put up with. We don't really want to live humdrum lives. We put up with the humdrum just so we can enjoy exciting, meaningful and adventurous episodes in our life.

I like the broader, far-reaching concept of wealth creation much more so than narrow, limited notion of just making money. There is nothing noble in being superior or wealthier than someone else. But there is great nobility and purpose in being superior to your former self.

Simple, seemingly trivial acts like falling in love, dancing, listening to music and so on, I believe, have shared motives with earning more money, building a career, creating wealth ie the pursuit and expression of more life. The purpose of life is essentially to create and experience more life – to enable the true expression of life. Wealth creation in its fullest, broadest meaning fosters this expression.

The Purpose of Life

The meaning of life is that which you give it; but the purpose of life, it could be argued, is something altogether more certain. Your own individual purpose may take time to figure out as you journey through life but in general terms I think it's fair to say, your purpose is, to transform yourself from who and how you are now, to your next highest ideal of who and how you want to be.

Every parent wants to give their child more and better than they themselves had. This is a natural biological and sociological imperative. Every individual wants to give and have more life than they currently have. The attainment of riches and wealth is simply part of this expression.

Whilst transformation isn't exclusively the domain of wealth creation … if you are creating more life, creating more value than you will automatically become wealthier. So, in a sense, wealth is a measure of the increased value you create during your life, the depth and fullness of expression in your life and the fostering / creation of more life.

A Broader Definition of Wealth

Whilst wealth is most often associated with money and the accumulation of assets; I see wealth (and its opposite, destitution) as pervasive in everything in life; in people 's mindsets, in the way people behave, in the forces and laws of nature, and in every human interaction. For the purpose of this article, we are largely focused on the definition of wealth creation as associated with money and assets. However, it is worth bearing in mind that wealth is not merely about the accumulation of money and assets but also perhaps a reflection of something deeper, some inner drive and pursuit far nobler than we might think.

So, we don't have to limit the definition of wealth creation to pure economics. For the purposes of this article, we can say that wealth comes in many different forms. Life is not just about what you have or achieve; it's also firmly about who and what you become. Perhaps even more importantly who and what other people become as a result of your being.

In a sense, wealth creation is a measure of the length and distance you've come in life in all aspects …. personal growth and development, spiritual growth and development etc. Wealth doesn't just reside in your bank account; it's in your spirit, your mindset, your behavior and your actions.

The True Purpose of Getting Rich

The reasons for getting rich and wealth creation are much more than the simple attainment of money and wealth. Getting rich enables us to increase life and live more. I believe that one's desire for wealth and riches is rarely, if ever, specifically about the money, but rather it is a measurable way of expressing our desire for a fuller, better, more meaningful life ie the increasing of life.

Personally, I have no interest in money as a means of possession. My wealth creation pursuits are driven by a need to discover more life. Assuming, that your basic Maslow hierarchy of needs are satisfied (food, shelter, sex, love etc) … then the pursuit of money is matched by a pursuit of self-actualization. Continuous advancement and increase in life is what all men and women are seeking. People are attracted to those who can give them more of the means of life and this attraction will result in the creation of wealth and you becoming rich.

Concerning yourself with the attraction of money and wealth as a means to the experiencing and contribution to the extension of life is far more worthy pursuit than the love of money as a possession. What you want for you, you must want for everybody.

Creation Not Competition

It's called Wealth Creation and not Wealth Competition. We must create rather than compete for what is already created. If you look around you, you will notice that the most successful businesses in the world create value that is hard to compete with. People have a need to be creative and spiritual, rather than destructive and unspiritual. People are therefore attracted to creation. If your business is creative rather than merely competitive it stands a greater chance of success. The people who make the most money in the world are state changers; they create changed states, new experience, increased experience of life. They essentially give and promote more life. They create more value in life. Wealth creation in its fullest meaning not only creates wealth but also contributes to creation of more life.

That part of us that's always trying to articulate itself and connect back up with and join with some greater expression of life is a deeply spiritual force of nature that simply must express itself. To deny it, would be denying yourself of who you really are.

Financial Freedom – An Alternative Perspective

We often associate the expression "financial freedom" with some notion of limitless wealth and money. However, an alternative perspective on financial freedom is whereby your fullest expression of life is not limited by your financial circumstances. I would argue that, if your present financial circumstances somehow prevent you from allowing the fullest expression of yourself, then you will be driven by the pursuit of financial freedom and the creation of wealth to enable this. You obtain absolute financial freedom when you are certain that you can do virtually whatever you want, whenever you want, with whomever you want, in a way that empowers both you and everyone else.

In Summary

Whether you're herding goats in the Himalayas, working in a sweet shop on some street corner or trading stocks on Wall Street there's no getting away from the subject. Wealth creation is everywhere. People may have different ways of describing it (eg paying the bills, saving for a rainy day, building wealth, building a future, getting rich, making money, making ends meet, building a nest egg etc), however, essentially they are different ways of describing the same thing in accordance with your current circumstances. Why not give some thought to why you do what it is you do, what is the connection between your daily money-making pursuits and your deeper life purpose? Wealth creation is at the heart of the very purpose of life …. the true purpose of life is to create yourself as you want to be. The true purpose of wealth creation is to enable this for yourself … and for everyone else!

Wealth Building

Financial Freedom and Building True Wealth

Financial responsibilities and decisions can be overwhelming due to ever-changing tax laws and investment options, escalating costs of education and basic living needs such as health care, instability of the Social Security system, and the demise of corporate pensions. Few of us have the time or inclination to handle all aspects of our finances alone. Financial freedom is far more than balancing your checkbook or picking the right investments. It’s when your self worth and your net worth are one, so that you can take action to live a life of true wealth. Financial illiteracy keeps many people stuck in a rut when it comes to managing their money. Bad money habits and mindsets do the same too.

True wealth is the ability to attract money, multiply and grow your money, and lastly to enjoy and have meaning for your money. What security is being wealthy when you live in fear of losing it? True wealth is to share and it is within time, purpose and intent. When more then one are gathered for good intent and purpose, greatness multiplies. True wealth is more about what you can freely give than about what you get. The old saying goes like this, “The More You Give the More You Receive”. This holds true in everything in life.

Personal finance isn’t always simple or easy, at least in the short run. It requires that you take a hard look at yourself and your relationship with money. Plus, take 100% responsibility for your financial future, and then take the actions that will help you reach your financial goals. Personal knowledge is embedded in individual experiences and involves intangible factors, such as personal beliefs, perspective, and their value system.

Discover the online resources that are available in order to find and build a wealthy online business. This will help you leverage your financial freedom and prosper through life. If you find the right opportunity, you can go through an almost immediate life transformation, and never look back.

If you are looking for Financial Freedom, visit Brian’s Big Ticket To Wealth website.

Wealth Building

Wealth Creation: 10 Steps To Financial Freedom

From my research and study in the topic of building wealth, I have distilled all formulas and guidelines into 10 important principles. If you follow these simple principles and always think outside the box, you will be on the right path to achieve financial success and wealth that will last you a lifetime.

  1. CREATE & VISUALIZE YOUR GOALS: They will always lead to wealth creation. Set a particular goal and visualize it every day. In setting your goals, you should always be sure they are categorical, quantifiable, realizable, pragmatic and time bound.
  2. DO YOUR HOMEWORK: Never jump into any business venture, irrespective of how attractive it may look. This could set you up for failure and disappointment. The more interesting the business opportunity, the closer you ought to be in examining their claims on returns on investments.(ROI) As a budding entrepreneur it’s important to test each business opportunity before you invest a significant amount of time and/or money.
  3. IDENTIFY A PROBLEM & FIND A SOLUTION: This is the key to creating sales and cash flow for your business. Be determined enough to stick with it and don’t quit. Everyone is consistently attempting to find solutions to their problems. If you can offer them a quality product and an excellent value, then the world is your oyster. People are willing to open their wallets to those who can offer an easier and better life to them. One thing you must remember is that there are always problems waiting to be solved.
  4. THINK BIG & KICK ASS: The one thing that starts from the top and grows down is the grave. Otherwise, everything else in life starts small and grows up. When you grow up, you stay up, but when you jump up, you come down. Naturally, common-sense tells you that when you jump up, the force of gravity simply pulls you down. There’s such a lot to be learned at the start of your business. It will be small, but you will be dreaming big! So as you have a giant vision to grow, your business will grow too! Remember the proverb… “To Think Is To Create”Keep your vision, create a mission statement and share them with everyone you hire. With this you will all have a common goal to work toward each and every day.
  5. USE EARNED CAPITAL TO GROW YOUR BUSINESS: As you grow your business, remember to always use capital from your profits. Growing a business on borrowed capital is a very big risk indeed. You must be prepared to dance to the music when it starts to play. If you position the growth of your business, without acquiring debt, it will allow you to work harder and ensure you make the cash and merit the growth.
  6. CHOOSE THE RIGHT PEOPLE TO WORK WITH: You need to be careful in picking the people you’re going to work with in the business. If you truly want to grow your company, it is vitally important to choose people that are suited to the tasks that you assign to them. For example, you wouldn’t hire a heavy machine operator to run your sales department, right? A great deal of time and money could be lost by attempting to put a square peg in a round hole.
  7. USE FISCAL LEVERAGING: When your business starts to grow, it will be reflective of your business income. The entire essential nature of beginning a business is to develop a consistent, foreseeable source of cash flow above cost and expenses. The bank will lend your business money based on the amount of cash flow it produces each month or year. So make sure that you keep the cash flowing even during slow economic periods. This may take some “thinking outside the box”, but that is what being an entrepreneur is all about.
  8. THINK OUTSIDE THE BOX:There will always be competition in any market you choose to enter. It is important to brand your business so you stand out from the others. When branding your business be sure to always be thinking outside the box. Come up with ideas that haven’t been used before and you will surely get noticed.
  9. DON’T STOP LEARNING: Read, Read, Read… Always be learning about your product or niche, your target market, and how the economy may effect your business. It is important to always be attempting to stay one step ahead of your competition. Continuous learning will allow you the flexibility to make changes in the business when necessary to stay on the top of your game.
  10. LEARN FROM A MENTOR: It is much easier to achieve financial success by following in the footsteps of someone that has already been in your shoes and has reached the pinnacle that you envision for yourself. Find a mentor that you feel a connection with and has reached the level of success that you are striving for. Then listen to their every word. They will teach you the steps necessary to reach your financial goals and dreams. Remember that everyone that has reached financial success as an entrepreneur has followed in the footsteps of another.
Wealth Building

Leverage Yourself and Build Wealth Easily

“How to get rich”: there are few more written upon topics in the history of history than how to get rich. Is Real Estate Investing the Number One Way to leverage yourself and build wealth easily? If you’re an entrepreneur who is constantly striving to get to that next level in your life, your business, and your finances, you’ll likely agree with me when I say that we entrepreneurial personality types have an insatiable appetite for consuming material on how to get rich, and how to leverage yourself to build wealth easily. As a real estate entrepreneur who writes often on investing, I’m not going to focus on how to get rich in real estate investing with this article. In fact, I’m exploring if there could be something even better for building wealth easily. An even more powerful way to leverage yourself!? Let’s see!

Build Wealth Easily?

But despite our best efforts and intentions and goals, that doesn’t mean each of us is able to figure out the why, where, who, when, and most frequently the what of how to get rich. Not all of us can drive every vehicle capable of shuttling them to success equally or as quickly as they might another vehicle. That’s why I wrote this article. Real estate investing is my passion. Real estate investing can build and keep wealth like nothing else. But I won’t claim it’s the best vehicle to build wealth easily. In fact, I’m not sure it is!

This article will help some of you see the types of actions and scenarios likely to take someone reading about how to get rich and propel them into a future full of success and sharing with others how to get rich– just by taking each of these vehicles for a mental test drive.

I believe one of the fundamentals of how to get rich is becoming a master of leverage, learning to leverage yourself by learning and applying systems of duplication and delegation and automation. By using creativity and the creation of value to multiply your results with the systems, efforts and resources of other people and organizations, you can be sure that every minute and every dollar you spend in pursuit of your goals learning how to get rich will come back at you in droves.

In real estate investing, I’m familiar with a lot of these methods to leverage yourself, as you can see from visiting the website — but what about these other plans for how to get rich?

That brings me to the top 13 ways in my opinion to get rich in today’s world– without having to be someone special, have special knowledge or look like a million bucks– as I see them, with an emphasis on how much LEVERAGE you have.

How to Get Rich Top 13 Answers

13. Steal the money

Whatever your religious beliefs, or whether you are consciously aware that there is a God or not, stealing money from others is not a great strategy on how to get rich. Humans are hard-wired with a conscience that in most cases knows right from wrong. Few people can live a full and happy life knowing that their fortune was built on robbery, theft, deception, trickery, or lying. It may appear the “easy route” but in the end karma always wins.

12. Winning the lottery

We do not value that which we did not work to earn. Sure it’s nice to fantasize about what we would do with a hundred million dollars, or fifty, or twenty, or ten. Some people say they play the lottery as an “investment vehicle”. The only more ridiculous statistics than the odds stacked against you winning are the statistics of what happens in the financial futures of the average lottery winner: 4 in 5 are BROKE or in debt within 10 years. How? When you have a paycheck to paycheck mentality (as much of the world does) lottery winnings are just a much bigger paycheck. For most people, as one’s income increases so too do the expenses–but faster. Lottery winners who did not have some financial success already are doomed to lose it all.

11. Being born rich

Napoleon Hill once said, in paraphrase, “there is nothing more dangerous than unearned

riches”. What did he mean by that? It’s a simple factor of human nature that the more we are given the less we appreciate. Or know the value of. Or how to get it on our own. There’s a reason predators bring meat to their young early on but later set them loose to learn how to feed themselves. The worst possible position to be in, should you lose all your wealth, is that of never having had to learn how to get rich in the first place. The only reason this is better than winning the lottery is because if you are determined to make it happen, you’ve already been exposed to wealth– so you’re not mentally limited as to how much you think you can earn. That’s a huge limitation for many people looking to build wealth easily, not having “seen” wealth.

10. The professional/corporate grind

Being a regular 9 to 5 employee with a guaranteed salary, benefits, 401k and stock options, and job security is not a negative– unless you want more than trading your time for dollars, that is! Admittedly, for some people, there’s something to be said for the safety of a secure, well-paying job that makes us feel normal. You can get rich just by living below your means and investing the difference– even teachers who made no more than $30,000 a year have died leaving multi-million dollar estates. This is great if you are patient, disciplined and can wait 30 years– but it’s not MY idea of how to get rich. Nor is ANY job or career exactly so “safe” anymore in today’s world of downsizing, layoffs, outsourcing, off-shoring, corporate mismanagement, and eroding benefits. Worse, you’re not using leverage here– no matter how hard you work, you can leverage yourself to a great degree as an employee! You’re a cog in someone else’s machine as an employee.

9. Unlimited income direct sales

Sales is one of the highest-paying professions in the world. It can also be the lowest-paying

profession in the world. Being a commissioned salesperson with no earnings cap on commissions

can bring in a lot of money if you’re good. IF you’re good and you bust your hump. And if your product is solid. And if the economy is strong. And if your company stays in business. And on and on. Too much is not in your hands! The main issue though is that the skills that will avail you of a successful career in professional sales can be used much more efficiently when you leverage yourself by using other vehicles to channel your talents.

8. Franchise Owner

2 + 2 = 4 no matter whether you can do math or not. Franchises are set up to be businesses run based on a system already proven profitable. Whether they are as “turnkey” as their promoters claim is debatable, but there is certainly money in the franchise game to be made. It’s no wonder economists have labeled the franchise boom of the 20th century as the McDonaldization of business when the average McDonald’s restaurant franchise grosses $1.9 Million per year for its franchisee owner. Still, the financial barrier to entry can be as high as a normal business and in many cases even higher.

Leverage Yourself

7. Network Marketing

This one could closer to the top of the list if the opportunities available were worthy to be at the top–most aren’t. If you find the right opportunity, however, and work it with a vengeance on a consistent basis you can gain leverage yourself substantially by using other people’s time. Unfortunately, most people never find the right company at the right time and make the right choice to take action. Then, when they fail, as 9 in 10 do within a year, they give up never having gotten past the dream of buying into someone’s plan to teach them how to get rich–and into the reality. However, for the person in sales who can sell and recruit, network marketing is a better answer in many cases than just conventional selling– for the simple fact that you’re building your own business and residual income streams that will continue whether you continue to work or not.

6. Information Product Sales

Internet marketers of today are capitalizing in ever-increasing numbers on human nature tendencies direct marketers have known for many, many long years. There are some “problems” we have as people that there is NO LIMIT to the amount of money we will throw at the problem trying to find the perfect “solution”. The best markets to sell information products to are: (1) Business Owners Seeking Solutions (2) Better Appearance Seekers (3) Business Opportunity Seekers (3) Diet & Fitness Seekers (4) Dating Advice Seekers and 5) Avid Leisure Hobbyists. The best part about information product sales is the low overhead cost to produce the products you deliver, and the high profit margins you can earn.

5. Business Owner

Business ownership has many more benefits than can be touched on in a short paragraph but suffice it to say that if you’re not in business for yourself you should be. There is little more fulfilling than being your own boss, and working to build something that might outlast you. The cash flow, the tax benefits, the respect in the community, the outlet for creativity– all of these things make owning a small business (or growing a large one) a large part of the average human dream. As a business owner, you can incorporate many of these other vehicles in your plan for building wealth easily.

4. Celebrity

Clearly, celebrity sells. There are many mega-millionaires on this planet with no other talent than somehow managing to capture the interest of an audience worldwide (or even regionally) longer than their allotted “15 minutes of fame”. Publicity equals better than advertising and advertising done skillfully equals revenue. Celebrities are money machines who can make money in most of the rest of these categories but there are three reasons this is not nearer the top of the list. Despite the number of “what did they do’s?” out there , there are many more celebrities who are famous for a reason– they worked very hard to become the best (or best promoted) at what they do– be it sports, entertainment, speaking, etc. Secondly, there is a very high barrier to entry to this kind of life, one most people just do not have the look, skills, contacts, nerve, or charisma to break into. Lastly, there’s a huge cost to celebrity that would take it out of the top choices of a “best ways on how to get rich” list: your privacy is nonexistent in today’s world of celebrity.

3. Intellectual Property

With income streams from licensing to franchising to royalties to patents, copyrights, and trademarks– creating intellectual property is a serious method of building wealth easily. Musicians, authors, inventors, creative artists, franchisors, entrepreneurs, and high-level marketers are all making tons of money, residually, for many years from work they completed just once. This is a very high leverage activity! Books, music, ebooks, graphic and multimedia designs, software, copywriting, inventions, franchisable sales systems, the list goes on and on. Is this a vehicle you can put into action tomorrow? Not usually! But as you make your way in the world of wealth do not forget to use intellectual property to leverage yourself!

How to Get Rich: Real Estate Investing the Best?

2. The Real Estate Business

It’s widely accepted that 90% of all the world’s millionaires either made or keep their wealth in real estate. Water is wet. The sky is blue. Over time, real estate goes up. These are simple facts. Contrary to the “get rich quick” infomercials you’ve seen, though, figuring out how to get rich in real estate investing isn’t easy. But it is simple, once you understand the processes involved and actively and consistently pursue the business. Real estate investing is one of the highest forms of leverage we have as entrepreneurs, with savvy investors utilizing not only other people’s money, but also other people’s time and even other people’s credit. The real estate business is full of wealth-building opportunities: foreclosures, rentals, lease options, commercial properties, short sales, tax liens, being an agent or loan officer, investing in notes and mortgages…the list goes on and on! Of these, investing in notes and mortgages is pretty high on the easy scale, getting the benefits of real estate without some of the management headaches.

I obviously believe in real estate investing, but I’m not so sure there isn’t an even better, easier, higher leverage vehicle out there for creative entrepreneurs like you and me!

1. Joint Ventures (A.K.A. Strategic Alliances)

Joint Ventures is the best way to build wealth easily. Scratching your head? Well, soon you’ll see that doing successful joint ventures to make massive cash with minimum efforts and minimum risk is just common sense. Too bad common sense ain’t common! If you can master putting together joint ventures, you can be assured that if you build wealth and lose it all– you can quickly earn it back. When you master joint ventures, everything you need to get started again building wealth easily is now in your thought processes. It’s become as simple as common sense. This is because with successful joint ventures you don’t need products or services or inventory. You don’t need an office, factory, employees, customers, or anything else traditional businesses need. You just need ideas. Of course, if you have any of these things, it only makes it easier because you bring something even more to the table than your brilliant ideas. The basic formula of how to get rich with joint ventures is answering these questions: “Who do I know?”, “What do they have?”, and “What do they need?” Then you play deal maker. That’s it! Zero risk, high profit potential. The ultimate in way to leverage yourself to build wealth easily.

Wealth Building

Wealth Creation Tool

We all like to enjoy all the good things in life, but only a few have the means and capabilities of enjoying all the good things life offers. To enjoy life to its fullest one must be wealthy, and to be wealthy you must learn the act of wealth creation. Study the life of all successful men in history, you will find that they have a lot of things in common. They have a burning desire to make things happen all the time, they do not accept no for answer in all that they pursue. Whatever they conceive in their mind, they try to actualize, they only look at the brighter side of life and forget the negative effects.

Wealth creation is an act that must be learnt and mastered in order to reap its benefits. For one to create wealth, ones mind must be focused and targeted to a particular way or means of acquiring wealth. Wealth is not what one wishes and it comes to him. For you to be wealthy, you must plan and work for it. You must discipline yourself, environment, habits and the way and manner you carry yourself.

Have you ever asked yourself why most people that inherited wealth end up being poor? the reason is not far fetched. These group of people never learnt the act of wealth creation, they do not understand how money works, they are not accustomed to the behavioral pattern of money. They think it is their right to be blessed with wealth, they forget that it is only when money produces money that wealth is sustained.

If you have the opportunity of being born into a wealthy family, look at yourself as if you are poor and change your attitude towards money, distance yourself from your family for awhile and learn how money works. If you are able to understand how money works before inheriting wealth, you will be able to sustain the wealth you have inherited.

Now to the question, which tool do you use in wealth creation? There are so many ways in which wealth can be created, it all depends on the person trying to create wealth. The basic thing to do is to work for money, I believe in working for money now and later make money my slave, those who have mastered the act of wealth creation command money like Officers commanding their respective troops.

It is only through investing your money that wealth can be created, money can be invested in mutual funds, real estates, bonds, stocks to mention but a few. It is left for you as an investor to determine how you want create wealth.

The internet to me is a leveler, it is now a matter of choice to either remain wealthy or poverty stricken. You are at liberty to do a lot of research about how to invest your money. You can as well through the internet earn a living. A lot of people have broken even through the power of the internet.