What’s wealth building? According to Hands On Banking
“Having money” and “building wealth” are really two different things. Having an income is great … … Wealth is things like savings, property, and investments. It’s resources you can use to create and take advantage of opportunities in life.” But I think Fortune Builders says it best “Wealth building is the process of generating long-term income through multiple sources. This refers to more than job-based income and instead includes savings, investments and any income-generating assets. The wealth building definition relies on proper financial planning and insight into one’s future financial goals. Many individuals will turn to wealth building as a way to secure a strong financial future.”
How To Building Wealth?
Building wealth is as simple as putting your money into a fund that pays you every month, no matter if you work or not. American Homeowner Preservation, is a fund that you can start investing in right now and begin building a residual income as soon as next month. You do not need to be an accredited investor or have a lot of money. You can start with $100 and earn $1 residual every month thereafter. Cardone Capital is another place to invest, with this fund you will need a minimum of $10k. The benefits of investing in Cardone Capital is you will receive a residual check every month. Plus get all the tax benefits that real estate investors use to cut there tax bill.
Investing in real estate is challenging! It is not as easy as all the Gurus would have you believe. But it is one the best investments an individual can make. This is the number one way to build wealth in the modern world. If you buy a piece or real estate correctly, you will be paid monthly through rents, taxes deductions, and equity to use to acquirer more property. The part that the Gurus don’t tell you about is the days of calling owner after owner with no prospective owner willing to sell. The amount of research and driving you will have to do to make it happen for yourself. Here is a question for you why bust your ass for 10k? When it take the same amount of work to earn 10 million? What do I mean? If you are going to use this as one of your wealth building vehicles! Then you should swing for the fence! Instead of buying single family homes. Buy multifamily with at least 4 doors or more. The more doors the more residual income that flows into your bank account!
Since 2009 most people will avoid putting there money in the stock market, like having Bernie Madoff as your financial advisor! At that time a lot of people lost their retirement, savings, and half if not all of their wealth. Education is the key to any type of wealth building. That includes the stock market. Tradesmart University is a great online education to learn how to play in the stock market. You will learn how to analyze charts, use options to your advantage and to know when you should go from playing with virtual money, to real money. An investing strategy that I have come up with. But not tested yet, is to follow Warren Buffett’s investment portfolio. Go through his portfolio and find the stocks that pay dividends. Then start watching there charts and studying the chart patterns. Invest in these stocks with virtual money. Until you know them backwards and forwards words. Tradestation is a trading platform that will allow you to do that for free. Success leaves clues! Use Warrans Talents for picking stocks to your wealth building advantage.
Starting a business is as simple as blogging to build your audience. Blogging about something you love to do or as your shared journal for the world to read, is a great way to bring in the money over a period of time. Like anything else this is going to take time and work. So how do you make money blogging? Affiliate accounts is one way. The best affiliate accounts to have are Ebay or Amazon. These 2 are free to sign up, with these affiliate accounts you can blog about anything and find products associated with your content. Use this article as you templated for your success. Once you have a few articles written, you need to share them with the world. Post your articles on Facebook, Twitter, Instagram, Snapchat, and Quora. Quora is a forum where people ask questions that you can possibly answer with your blog posts.
When Can You Begin Building Wealth?
Start as soon as possible! Building wealth is a marathon of consistent investing in oneself and putting money to work to produce more income. It is up to you to do this. Nobody will do it for you! If you leave it up to society, government, financial advisors, and bad habits, you will get what you have always gotten! Pick your road to wealth or two, and get started now! How do you eat an elephant? One bite at a time!