No Nonsense 3 Part Scheme For Becoming Wealthy
Even though most people would readily admit that they wish to become wealthy, not many actually have a plan for creating wealth. You might dream of having enough money to pay all your bills and have enough saved to live well off of your investments but are you serious about becoming wealthy? Being rich doesn't have to be a dream and creating real wealth isn't impossible.
The dream of becoming wealthy involves creating wealth, saving and investing. All three of these aspects of controlling your money needs to be present in your life. If one of them is out of balance or not working then your entire plan won't work. If there's no money then there's no savings. With no savings there's no way to invest. Creating that wealth and capitol needs to be your first step and your primary goal. Staying focused and remembering this can be difficult but keep this in mind and things will begin to change.
First, what do you have that can create the kind of wealth that you dream of? What specialized knowledge or interest do you have that can help solve people's problems or make life easier for society? Creating true wealth is primarily done by finding a problem that exists and coming up with a simple solution for that problem. When you can't find a simple solution then this is when a more complex solution becomes necessary.
There's a good chance that you are making someone else very wealthy right now by working a full time job. You are exchanging your time for money and someone else is leveraging your knowledge or expertise to make more than they are paying you. If you enjoy what you do for a living right now then your goal should be to put that specialized knowledge to work for yourself. There is also a good chance that you have other interests that you enjoy more. Maybe you love fly fishing and you're good at catching trout or tying flies. You could become a fishing guide or write a book about trout fishing or sell your own brand of flies to upscale fishermen like yourself. Or perhaps you love the serenity of gardening and making things grow in your garden using organic methods. You could write a book on organic gardening or start your own organic farm. Now is the time to decide what direction you wish to go in. What makes you happy and what would you like to do with your life? What topic would you enjoy becoming an expert on? Begin to educate yourself as if you were going to become a world renown authority on this subject.
Time and managing time is always a problem. Once you get moving down the path to wealth, you will find that there simply aren't enough hours in the day to get everything done that you wish to get done. Freeing up some of that time by hiring someone to take care of the more mundane tasks that you dread is an investment in your future. If you could be accomplishing a task that will make you money and you can hire someone to cut your grass or clean your house for less money then you are turning a profit. Unskilled labor is very inexpensive and while you can't outsource your laundry overseas, you can find someone locally who would be happy to make a few extra dollars a week for helping you.
If you are someone that likes to control every situation or if you become stressed out that someone isn't going to take care of these chores as well as you might, you have two choices. You can either work on letting it go and just be glad that the job is done or you can find someone else to do the job more to your liking. Of course, if it's just a control issue, realize that it's important that you give up this control. You're only hurting yourself and your future wealth by being too much of a perfectionist. If you simply can't afford to outsource all the things that you need to right now, make this your first goal. Create that wealth so you can focus on creating more wealth.
Another important aspect of wealth creation that you need to keep in mind is diversification of your income. While you might have only one main interest or project that you want to work on at one time, diversifying your income by being a part of two or three different project can minimize your risk as you build wealth. This can easily be accomplished by being a part of a group or team of friends or investors with different interests or projects.
For instance, let's say that you are great at the stock market. Meanwhile, you have a friend that loves writing computer code. Your friend also has a brother who is a carpenter. Together, the three of you could have three separate businesses or opportunities going on at the same time. All three could be connected and you could all help each other, share expenses and share the profits thus diversifying your wealth, income and limiting the risk to all three of you. You might even have an idea right now of a couple of people that you would like to partner up with. Let your mind run and think of the possibilities.
Creating wealth and being clever with your time while mitigating your exposure to risk is a simple way to become rich rather quickly. If you are able to focus on what you are skilled at while offering value to others, you will become successful. Make good use of your time and partner up with other like minded individuals for different projects. You will find that once you manage your time and resources, you will have more money making opportunities than there are hours in the day.
The dream of becoming wealthy involves creating wealth, saving and investing. All three of these aspects of controlling your money needs to be present in your life. If one of them is out of balance or not working then your entire plan won't work. If there's no money then there's no savings. With no savings there's no way to invest. Creating that wealth and capitol needs to be your first step and your primary goal. Staying focused and remembering this can be difficult but keep this in mind and things will begin to change.
First, what do you have that can create the kind of wealth that you dream of? What specialized knowledge or interest do you have that can help solve people's problems or make life easier for society? Creating true wealth is primarily done by finding a problem that exists and coming up with a simple solution for that problem. When you can't find a simple solution then this is when a more complex solution becomes necessary.
There's a good chance that you are making someone else very wealthy right now by working a full time job. You are exchanging your time for money and someone else is leveraging your knowledge or expertise to make more than they are paying you. If you enjoy what you do for a living right now then your goal should be to put that specialized knowledge to work for yourself. There is also a good chance that you have other interests that you enjoy more. Maybe you love fly fishing and you're good at catching trout or tying flies. You could become a fishing guide or write a book about trout fishing or sell your own brand of flies to upscale fishermen like yourself. Or perhaps you love the serenity of gardening and making things grow in your garden using organic methods. You could write a book on organic gardening or start your own organic farm. Now is the time to decide what direction you wish to go in. What makes you happy and what would you like to do with your life? What topic would you enjoy becoming an expert on? Begin to educate yourself as if you were going to become a world renown authority on this subject.
Time and managing time is always a problem. Once you get moving down the path to wealth, you will find that there simply aren't enough hours in the day to get everything done that you wish to get done. Freeing up some of that time by hiring someone to take care of the more mundane tasks that you dread is an investment in your future. If you could be accomplishing a task that will make you money and you can hire someone to cut your grass or clean your house for less money then you are turning a profit. Unskilled labor is very inexpensive and while you can't outsource your laundry overseas, you can find someone locally who would be happy to make a few extra dollars a week for helping you.
If you are someone that likes to control every situation or if you become stressed out that someone isn't going to take care of these chores as well as you might, you have two choices. You can either work on letting it go and just be glad that the job is done or you can find someone else to do the job more to your liking. Of course, if it's just a control issue, realize that it's important that you give up this control. You're only hurting yourself and your future wealth by being too much of a perfectionist. If you simply can't afford to outsource all the things that you need to right now, make this your first goal. Create that wealth so you can focus on creating more wealth.
Another important aspect of wealth creation that you need to keep in mind is diversification of your income. While you might have only one main interest or project that you want to work on at one time, diversifying your income by being a part of two or three different project can minimize your risk as you build wealth. This can easily be accomplished by being a part of a group or team of friends or investors with different interests or projects.
For instance, let's say that you are great at the stock market. Meanwhile, you have a friend that loves writing computer code. Your friend also has a brother who is a carpenter. Together, the three of you could have three separate businesses or opportunities going on at the same time. All three could be connected and you could all help each other, share expenses and share the profits thus diversifying your wealth, income and limiting the risk to all three of you. You might even have an idea right now of a couple of people that you would like to partner up with. Let your mind run and think of the possibilities.
Creating wealth and being clever with your time while mitigating your exposure to risk is a simple way to become rich rather quickly. If you are able to focus on what you are skilled at while offering value to others, you will become successful. Make good use of your time and partner up with other like minded individuals for different projects. You will find that once you manage your time and resources, you will have more money making opportunities than there are hours in the day.
About the Author:
Go to http://regal-assets.positive-and-optimistic.org/ to uncover the truth about wise investing and building wealth. Uncover the truth about where the wealthiest investors are putting their money.
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