Surely everybody has felt this way at some stage? So what IS the answer? Whilst there might not be a 'definitive' answer to this question - there are definitely better and worse places to begin your quest towards financial freedom.
Robert Kiyosaki (the author of Rich Dad, Poor Dad) talks about the three main vehicles that the rich use to create wealth. They are as follows
Stock Market
The stock market allows you to 'buy in' to a company and in turn receive a 'share' of the company's profits or losses. Professional Investors generally use the stock market to create cash flow.
Real Estate
Buying Real Estate can be less scary for the novice investor as you are buying a 'physical thing'. The ability to 'leverage' your money is one of the best features of Property Investing. Professional Investors generally use Real Estate for long term capital gain
Business
Business can include everything from owning your own business to being employed by someone else. If you think about it having a job is just like running a business but rather than selling a product you are selling 'your time'. Wealthy people use their 'business' to help fund their Stock Market & Real Estate investments.
I would like to add a fourth category
Mindset/Education
Whilst you don't physically 'make money' from this category, there is no way that you can create any amount of wealth without having a strong mindset and knowledge base.
So where should you start?
The first and most important thing you need to do is ask yourself "why do I want to be rich'? Everyone 'thinks' they want to be rich but not many people take the time to explore what they would actually do if money wasn't an obstacle. Remember being Wealthy isn't just about having lots of money. There are plenty of people who earn millions of dollars a year but don't have any spare time to see their family or who aren't actually happy with their life. To be truly wealthy I believe you need to have abundance and choice in four main areas
1. Financial - have enough money to do everything you dream of
2. Time - be able to spend your time how YOU want
3. Family/Love - have great relationships and a group of people you care about
4. Achievement/Contribution - be proud of who you are and what you have done
So when you ask yourself 'why do I want to be rich' make sure your answer includes all of these areas in some way.
The next thing I would do is 'Surround yourself with people who have what you want'.
Or in other words educate yourself. There is plenty of great Wealth Creation information out there and the best part is that a great deal of it is Free. A little Warning - once you begin learning new investment strategies and Wealth Creation ideas you will no doubt begin to feel liberated and excited. DON'T let yourself be scared or put off by uniformed people who know less about the subject than you. Jamie McIntyre talks about the 'law of opposites'. In short he is saying "If you want to succeed, you need to figure out what most Australians are doing and do the exact opposite". Remember, 'Surround yourself with people who have what you want' NOT 'people who have what you already have'.
The next step is to decide what your first strategy is going to be. Will you use the Share Market, Real Estate or your Business? Always remember to start small, don't try to 'bite off more than you can chew' and definitely don't get too far ahead of yourself. If you try and go too fast you can end up having a bad experience and it might turn you off Investing for life. Once you find a strategy that works then repeat it and start looking for a different strategy to learn. As Robert Kiyosaki says the Stock market, Real Estate and Business will create the best results when they are employed in unison BUT you need to walk before you can run. One strategy at a time is definitely the best option.
The final step and by far the hardest and most horrible part of this whole process is to reward yourself! Celebrating your successes will encourage you to continue your good work and always remember there is much more to being wealthy than having lots of money. So what are you waiting for? Take action now, quite simply just 'Do Something'. Remember "A journey of a thousand miles must begin with a single step" - Lao Tsu
Robert Kiyosaki (the author of Rich Dad, Poor Dad) talks about the three main vehicles that the rich use to create wealth. They are as follows
Stock Market
The stock market allows you to 'buy in' to a company and in turn receive a 'share' of the company's profits or losses. Professional Investors generally use the stock market to create cash flow.
Real Estate
Buying Real Estate can be less scary for the novice investor as you are buying a 'physical thing'. The ability to 'leverage' your money is one of the best features of Property Investing. Professional Investors generally use Real Estate for long term capital gain
Business
Business can include everything from owning your own business to being employed by someone else. If you think about it having a job is just like running a business but rather than selling a product you are selling 'your time'. Wealthy people use their 'business' to help fund their Stock Market & Real Estate investments.
I would like to add a fourth category
Mindset/Education
Whilst you don't physically 'make money' from this category, there is no way that you can create any amount of wealth without having a strong mindset and knowledge base.
So where should you start?
The first and most important thing you need to do is ask yourself "why do I want to be rich'? Everyone 'thinks' they want to be rich but not many people take the time to explore what they would actually do if money wasn't an obstacle. Remember being Wealthy isn't just about having lots of money. There are plenty of people who earn millions of dollars a year but don't have any spare time to see their family or who aren't actually happy with their life. To be truly wealthy I believe you need to have abundance and choice in four main areas
1. Financial - have enough money to do everything you dream of
2. Time - be able to spend your time how YOU want
3. Family/Love - have great relationships and a group of people you care about
4. Achievement/Contribution - be proud of who you are and what you have done
So when you ask yourself 'why do I want to be rich' make sure your answer includes all of these areas in some way.
The next thing I would do is 'Surround yourself with people who have what you want'.
Or in other words educate yourself. There is plenty of great Wealth Creation information out there and the best part is that a great deal of it is Free. A little Warning - once you begin learning new investment strategies and Wealth Creation ideas you will no doubt begin to feel liberated and excited. DON'T let yourself be scared or put off by uniformed people who know less about the subject than you. Jamie McIntyre talks about the 'law of opposites'. In short he is saying "If you want to succeed, you need to figure out what most Australians are doing and do the exact opposite". Remember, 'Surround yourself with people who have what you want' NOT 'people who have what you already have'.
The next step is to decide what your first strategy is going to be. Will you use the Share Market, Real Estate or your Business? Always remember to start small, don't try to 'bite off more than you can chew' and definitely don't get too far ahead of yourself. If you try and go too fast you can end up having a bad experience and it might turn you off Investing for life. Once you find a strategy that works then repeat it and start looking for a different strategy to learn. As Robert Kiyosaki says the Stock market, Real Estate and Business will create the best results when they are employed in unison BUT you need to walk before you can run. One strategy at a time is definitely the best option.
The final step and by far the hardest and most horrible part of this whole process is to reward yourself! Celebrating your successes will encourage you to continue your good work and always remember there is much more to being wealthy than having lots of money. So what are you waiting for? Take action now, quite simply just 'Do Something'. Remember "A journey of a thousand miles must begin with a single step" - Lao Tsu
For access to a Free Investment DVD and an amazing Free Wealth Creation pack valued at over $100 simple go to http://www.SharesPropertyMoney.com or learn more about Investing & Wealth Creation at my blog http://www.BanjoSmyth.com
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