Anyone can create wealth, it’s just that some do it better than others, because they follow some simple rules.
While there are stories of people being innovative or being lucky, this is not the norm of people who build wealth.
It’s easy to create wealth, but you need to follow three simple tips and if you do chances are you will.
So, here are your 3 essential tips for wealth creation.
1. Do it yourself
No one else is going to do it for you. Forget people who sell you books and ideas on MLM, gambling, finance or any other scheme where you pay a dew hundred dollars for unlimited wealth.
People want an easy way and end up disappointed buy these schemes and you will end up creating wealth for the person who sold you the scheme and not create wealth for yourself.
Wealth creation is all about having some capital and putting it to good use i.e make it grow.
Whatever scheme you choose for wealth creation, think for yourself and make your own mind up and don’t blindly follow others.
2. You Need To Work Smart NOT Hard
Lots of people work hard but this hard work does not result in wealth creation and there is correlation between the two.
The fact is, if you want to make money you need to work smart NOT hard and there is a big difference.
Working smart means simply being able to spot an opportunity and act on your own judgement, in an area that offers you good risk reward.
3. Understand Speed & Compound Growth
Most people are in to much of hurry to create wealth and want to do it over night and quickly.
The result is, they take to much risk and lose all their money and wonder about what might have been.
What you need to understand is wealth creation does take a bit of time and you need to balance risk – reward.
The important point is to make your money work for you and that means taking advantage of compound growth.
Which investment would you rather have?
One that made 200% annually and you had a 50% chance of losing all your money, or one that made 50% with a 5% chance you would lose all your money?
I would pick the latter and that’s what all savvy investors do.
Keep in mind if you made 50% for 12 years on just $30,000 you would be a comfortable millionaire.
As you create wealth it grows exponentially, as compound growth kicks in accelerating your gains.
This is the way to make money balancing the risk – reward and watching your money grow.
What is a good simple way to create wealth?
Most of the world’s wealthiest families have made money buying land – Before you think this does not sound like a way to create wealth, read on:
Land is cheap, land is easy to buy and sell and if you buy in the right location, you can make 50 – 100% annually, with low risk!
We have all heard of the people who got rich in land investment in California or Florida turning small sums into millions today, there are different new destinations where savvy investors are creating wealth quickly.
Most are overseas and the advantage of buying land here is its cheaper, growth rates are more and the risk is less than in many industrialized countries.
Land is a great wealth building tool and offers some of the highest growth rates to risk of any investment.
For wealth creation there is no better tool for the average guy to make some big profits. It’s easy and not expensive to get in on the action, explore the facts and decide for yourself.
Source by Sacha Tarkovsky